This module allows you to analyze existing cross correlation between Paysign and NQTH. You can compare the effects of market volatilities on Paysign 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 Paysign with a short position of NQTH. See also your portfolio center. Please also check ongoing floating volatility patterns of Paysign and NQTH.
|Horizon||30 Days Login to change|
Predicted Return Density
Paysign vs. NQTH
Given the investment horizon of 30 days, Paysign is expected to generate 7.31 times more return on investment than NQTH. However, Paysign is 7.31 times more volatile than NQTH. It trades about 0.1 of its potential returns per unit of risk. NQTH is currently generating about -0.18 per unit of risk. If you would invest 1,235 in Paysign on July 27, 2019 and sell it today you would earn a total of 237.00 from holding Paysign or generate 19.19% return on investment over 30 days.
Pair Corralation between Paysign and NQTH
|Time Period||2 Months [change]|
Diversification Opportunities for Paysign and NQTH
Overlapping area represents the amount of risk that can be diversified away by holding Paysign and NQTH in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on NQTH and Paysign 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 Paysign 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 Paysign i.e. Paysign and NQTH go up and down completely randomly.
See also your portfolio center. Please also try Price Ceiling Movement module to calculate and plot price ceiling movement for different equity instruments.