Correlation Analysis Between Dollar General and NQTH

This module allows you to analyze existing cross correlation between Dollar General Corporation and NQTH. You can compare the effects of market volatilities on Dollar General and NQTH and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Dollar General with a short position of NQTH. See also your portfolio center. Please also check ongoing floating volatility patterns of Dollar General and NQTH.
Horizon     30 Days    Login   to change
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Comparative Performance

 Predicted Return Density 

Dollar General Corp.  vs.  NQTH

 Performance (%) 

Pair Volatility

Allowing for the 30-days total investment horizon, Dollar General Corporation is expected to generate 1.34 times more return on investment than NQTH. However, Dollar General is 1.34 times more volatile than NQTH. It trades about 0.01 of its potential returns per unit of risk. NQTH is currently generating about -0.19 per unit of risk. If you would invest  13,714  in Dollar General Corporation on July 22, 2019 and sell it today you would earn a total of  7.00  from holding Dollar General Corporation or generate 0.05% return on investment over 30 days.

Pair Corralation between Dollar General and NQTH

Time Period2 Months [change]
ValuesDaily Returns

Diversification Opportunities for Dollar General and NQTH

Dollar General Corp. diversification synergy

Very weak diversification

Overlapping area represents the amount of risk that can be diversified away by holding Dollar General Corp. and NQTH in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on NQTH and Dollar General is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Dollar General Corporation are associated (or correlated) with NQTH. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of NQTH has no effect on the direction of Dollar General i.e. Dollar General and NQTH go up and down completely randomly.
See also your portfolio center. Please also try Focused Opportunities module to build portfolios using our predefined set of ideas and optimize them against your investing preferences.