Aurora Technology Correlations

Summary

ATAKUDelisted Stock

USD 10.60 0.00 0.00%

The current 90-days correlation between Aurora Technology and Mesa Air Group is 0.1 (i.e., Average diversification). The correlation of Aurora Technology is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Aurora Technology Correlation With Market

Good diversification

The correlation between Aurora Technology Acquisition and DJI is -0.08 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Aurora Technology Acquisition and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in industry.

Moving together with Aurora Stock

0.69	NDEKY	Nitto Denko Corp	Pair Corr
0.7	MNPR	Monopar Therapeutics	Pair Corr
0.8	MMM	3M Company	Pair Corr

Moving against Aurora Stock

0.71	MCD	McDonalds Earnings Call This Week	Pair Corr
0.63	DD	Dupont De Nemours Earnings Call This Week	Pair Corr
0.56	AA	Alcoa Corp	Pair Corr
0.54	PG	Procter Gamble	Pair Corr
0.43	TRV	The Travelers Companies	Pair Corr
0.41	DAIUF	Daifuku Earnings Call This Week	Pair Corr
0.4	JNJ	Johnson Johnson	Pair Corr
0.36	KO	Coca Cola Earnings Call This Week	Pair Corr
0.32	YAMHF	Yamaha Motor	Pair Corr
0.32	MRK	Merck Company Earnings Call This Week	Pair Corr
0.31	NFPDF	Nissin Foods Holdings	Pair Corr

Related Correlations Analysis

	MESA	SNCY	KNTK	ARIS	CNP	GZITF	DKL	FLYX
MESA		0.63	0.61	0.53	0.67	0.37	0.88	0.81	MESA
SNCY	0.63		0.72	0.66	0.43	0.64	0.73	0.58	SNCY
KNTK	0.61	0.72		0.9	0.72	0.67	0.84	0.56	KNTK
ARIS	0.53	0.66	0.9		0.8	0.83	0.7	0.33	ARIS
CNP	0.67	0.43	0.72	0.8		0.57	0.69	0.45	CNP
GZITF	0.37	0.64	0.67	0.83	0.57		0.46	0.16	GZITF
DKL	0.88	0.73	0.84	0.7	0.69	0.46		0.81	DKL
FLYX	0.81	0.58	0.56	0.33	0.45	0.16	0.81		FLYX
	MESA	SNCY	KNTK	ARIS	CNP	GZITF	DKL	FLYX

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Risk-Adjusted Indicators

There is a big difference between Aurora Stock performing well and Aurora Technology Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Aurora Technology's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
MESA	2.95	0.61	0.14	21.00	3.00	(3.87)	9.80	(5.30)	23.87
SNCY	2.30	0.50	0.15	(1.49)	2.19	(2.62)	6.65	(3.53)	16.71
KNTK	1.78	0.38	0.14	1.33	1.97	(1.94)	3.72	(3.32)	15.02
ARIS	2.77	0.77	0.29	0.39	2.32	(3.11)	6.46	(5.01)	35.90
CNP	1.02	0.13	0.03	(73.97)	1.04	(1.09)	2.46	(1.86)	5.43
GZITF	0.84	0.37	0.00	0.78	0.00	0.00	0.00	0.00	26.67
DKL	0.79	0.21	0.16	1.34	0.58	(0.92)	1.86	(1.24)	4.78
FLYX	2.93	0.70	0.15	(0.61)	2.83	(3.52)	6.85	(5.71)	22.28

Aurora Technology Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Aurora Technology stock to make a market-neutral strategy. Peer analysis of Aurora Technology could also be used in its relative valuation, which is a method of valuing Aurora Technology by comparing valuation metrics with similar companies.

Mesa Air Group Sun Country Airlines Kinetik Holdings Aris Water Solutions CenterPoint Energy Yuexiu Transport Infrastructure Delek Logistics Partners flyExclusive, American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne CVS Health Corp

Risk & Return

Correlation

Still Interested in Aurora Technology Acquisition?

Investing in delisted delisted stocks can be risky, as the stock is no longer traded on a public exchange and can therefore be difficult to sell. Delisting typically occurs when a company has failed to meet exchange requirements or has been acquired. Before investing, it's important to thoroughly research the company, including its financial health and prospects for the future, as well as the reasons for its delisting. Additionally, it may be difficult to find accurate and up-to-date information on the company and its stock.

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