Novus Acquisition Correlations

NDEV Stock

USD 0.01 0 14.29%

The correlation of Novus 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Novus Acquisition Correlation With Market

Good diversification

The correlation between Novus Acquisition and and DJI is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Novus Acquisition and and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Novus Acquisition could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Novus Acquisition when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Novus Acquisition - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Novus Acquisition and to buy it.

Moving together with Novus Pink Sheet

0.61	KNTK	Kinetik Holdings	Pair Corr
0.67	GOOD	Gladstone Commercial	Pair Corr

Moving against Novus Pink Sheet

0.47	MRLWF	Marlowe Plc	Pair Corr
0.4	BRK-B	Berkshire Hathaway	Pair Corr
0.39	ALIZY	Allianz SE ADR	Pair Corr
0.38	ALIZF	Allianz SE	Pair Corr
0.36	ZURVY	Zurich Insurance	Pair Corr
0.31	ZFSVF	Zurich Insurance	Pair Corr
0.66	JNJ	Johnson Johnson Sell-off Trend	Pair Corr
0.56	NAUT	Nautilus Biotechnology	Pair Corr
0.43	VELO	Velo3D, Tech Boost	Pair Corr
0.39	TGI	Triumph Group	Pair Corr
0.37	FTI	TechnipFMC PLC Sell-off Trend	Pair Corr
0.53	DGWR	Critic Clothing	Pair Corr
0.45	LMND	Lemonade	Pair Corr
0.42	XCUR	Exicure	Pair Corr
0.39	VWAGY	Volkswagen AG 110	Pair Corr
0.33	GDYN	Grid Dynamics Holdings	Pair Corr
0.32	PFE	Pfizer Inc	Pair Corr

Related Correlations Analysis

	AGSS	IBKKF	LGCP	MVCO	NGRC	LZGI	AVVH	ADIA	QCAAF	LFLS
AGSS		0.0	0.41	-0.48	0.02	0.27	0.02	-0.46	0.2	-0.53	AGSS
IBKKF	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	IBKKF
LGCP	0.41	0.0		-0.82	0.44	-0.16	-0.05	-0.58	0.53	-0.61	LGCP
MVCO	-0.48	0.0	-0.82		-0.19	-0.09	0.08	0.73	-0.44	0.64	MVCO
NGRC	0.02	0.0	0.44	-0.19		-0.21	0.0	-0.02	0.23	-0.32	NGRC
LZGI	0.27	0.0	-0.16	-0.09	-0.21		-0.03	-0.44	0.04	-0.29	LZGI
AVVH	0.02	0.0	-0.05	0.08	0.0	-0.03		0.09	-0.33	0.08	AVVH
ADIA	-0.46	0.0	-0.58	0.73	-0.02	-0.44	0.09		-0.51	0.79	ADIA
QCAAF	0.2	0.0	0.53	-0.44	0.23	0.04	-0.33	-0.51		-0.62	QCAAF
LFLS	-0.53	0.0	-0.61	0.64	-0.32	-0.29	0.08	0.79	-0.62		LFLS
	AGSS	IBKKF	LGCP	MVCO	NGRC	LZGI	AVVH	ADIA	QCAAF	LFLS

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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

LFLS	+ 0.79	ADIA
ADIA	+ 0.73	MVCO
LFLS	+ 0.64	MVCO
QCAAF	+ 0.53	LGCP
NGRC	+ 0.44	LGCP
LGCP	+ 0.41	AGSS

High negative correlations

MVCO	- 0.82	LGCP
LFLS	- 0.62	QCAAF
LFLS	- 0.61	LGCP
ADIA	- 0.58	LGCP
LFLS	- 0.53	AGSS
QCAAF	- 0.51	ADIA

Risk-Adjusted Indicators

There is a big difference between Novus Pink Sheet performing well and Novus 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 Novus 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
AGSS	11.53	0.42	0.03	0.16	13.39	(23.13)	38.89	(28.00)	92.13
IBKKF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
LGCP	3.73	(1.86)	0.00	2.15	0.00	0.00	0.00	0.00	86.49
MVCO	9.18	1.48	0.12	1.15	8.45	(14.77)	15.38	(12.50)	81.25
NGRC	8.38	0.79	0.03	0.49	10.80	(28.59)	33.33	(25.58)	130.48
LZGI	5.97	1.26	0.00	0.47	0.00	0.00	0.00	0.00	150.00
AVVH	10.62	1.56	0.09	(0.39)	10.88	(15.34)	25.64	(20.41)	74.24
ADIA	12.01	1.12	0.10	0.18	12.13	(19.98)	35.71	(28.57)	84.74
QCAAF	0.19	(0.06)	0.00	(0.64)	0.00	0.00	0.00	0.00	6.56
LFLS	1.19	0.54	0.00	0.80	0.00	0.00	0.00	0.00	40.00

Be your own money manager

Our tools can tell you how much better you can do entering a position in Novus Acquisition without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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