Helix Acquisition Correlations

HLXB Stock

10.45 0.03 0.29%

The current 90-days correlation between Helix Acquisition Corp and Griffon is 0.01 (i.e., Significant diversification). The correlation of Helix Acquisition 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.

Helix Acquisition Correlation With Market

Good diversification

The correlation between Helix Acquisition Corp 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 Helix Acquisition Corp and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Helix Acquisition Corp. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in interest.

Moving against Helix Stock

0.49	RC	Ready Capital Corp	Pair Corr
0.42	RM	Regional Management Corp	Pair Corr
0.41	PT	Pintec Technology	Pair Corr
0.47	WU	Western Union	Pair Corr
0.47	EARN	Ellington Residential	Pair Corr
0.45	BRACU	Broad Capital Acquisition	Pair Corr
0.44	PFTAU	Portage Fintech Acqu	Pair Corr
0.32	XP	Xp Inc Downward Rally	Pair Corr

Related Correlations Analysis

	GFF	PH	NTGR	NR	SPHR	ATEX	PINS	RBC
GFF		0.75	0.63	0.31	-0.35	-0.2	-0.26	0.85	GFF
PH	0.75		0.89	-0.01	-0.32	-0.49	-0.04	0.8	PH
NTGR	0.63	0.89		-0.22	-0.43	-0.41	-0.09	0.62	NTGR
NR	0.31	-0.01	-0.22		0.21	0.12	-0.23	0.41	NR
SPHR	-0.35	-0.32	-0.43	0.21		-0.19	0.59	-0.34	SPHR
ATEX	-0.2	-0.49	-0.41	0.12	-0.19		-0.31	-0.13	ATEX
PINS	-0.26	-0.04	-0.09	-0.23	0.59	-0.31		-0.35	PINS
RBC	0.85	0.8	0.62	0.41	-0.34	-0.13	-0.35		RBC
	GFF	PH	NTGR	NR	SPHR	ATEX	PINS	RBC

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

NTGR	+ 0.89	PH
RBC	+ 0.85	GFF
RBC	+ 0.8	PH
PH	+ 0.75	GFF
NTGR	+ 0.63	GFF
RBC	+ 0.62	NTGR

High negative correlations

ATEX	- 0.49	PH
SPHR	- 0.43	NTGR
ATEX	- 0.41	NTGR
RBC	- 0.35	PINS
SPHR	- 0.35	GFF
RBC	- 0.34	SPHR

Risk-Adjusted Indicators

There is a big difference between Helix Stock performing well and Helix Acquisition 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 Helix Acquisition'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
GFF	1.74	0.20	0.14	0.24	1.74	(1.99)	3.14	(3.11)	22.84
PH	0.91	0.10	0.14	0.19	0.82	(1.10)	2.18	(1.25)	11.35
NTGR	2.27	0.56	0.29	0.60	1.52	(2.97)	5.28	(3.74)	34.60
NR	1.74	(0.25)	(0.05)	0.00	2.11	(1.86)	3.73	(3.89)	13.55
SPHR	2.10	(0.40)	0.00	(0.20)	0.00	0.00	5.06	(4.40)	14.27
ATEX	1.52	(0.15)	0.00	(0.36)	0.00	0.00	3.31	(3.79)	12.42
PINS	1.61	(0.12)	0.00	(0.01)	0.00	0.00	2.79	(3.30)	17.91
RBC	1.04	0.03	0.08	0.14	0.98	(1.16)	2.12	(1.98)	11.43

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC