NiHAO Mineral Correlations
| NI Stock | 0.44 0.00 0.00% |
The current 90-days correlation between NiHAO Mineral Resources and Atok Big Wedge is -0.11 (i.e., Good diversification). The correlation of NiHAO Mineral 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.
NiHAO Mineral Correlation With Market
Significant diversification
The correlation between NiHAO Mineral Resources and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding NiHAO Mineral Resources and DJI in the same portfolio, assuming nothing else is changed.
NiHAO |
The ability to find closely correlated positions to NiHAO Mineral could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace NiHAO Mineral 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 NiHAO Mineral - 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 NiHAO Mineral Resources to buy it.
Moving together with NiHAO Stock
| 0.82 | NIKL | Nickel Asia Corp | PairCorr |
| 0.96 | APL | Apollo Global Capital | PairCorr |
| 0.71 | APX | Apex Mining | PairCorr |
| 0.62 | FNI | Global Ferronickel | PairCorr |
| 0.62 | MAB | Manila Mining Corp | PairCorr |
| 0.82 | SM | SM Investments Corp | PairCorr |
| 0.61 | AC | Ayala Corp | PairCorr |
| 0.92 | ALI | Ayala Land | PairCorr |
| 0.62 | BDO | BDO Unibank | PairCorr |
| 0.86 | TEL | PLDT Inc | PairCorr |
| 0.87 | AEV | Aboitiz Equity Ventures | PairCorr |
Moving against NiHAO Stock
Related Correlations Analysis
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Risk-Adjusted Indicators
There is a big difference between NiHAO Stock performing well and NiHAO Mineral 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 NiHAO Mineral'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.NiHAO Mineral 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 NiHAO Mineral stock to make a market-neutral strategy. Peer analysis of NiHAO Mineral could also be used in its relative valuation, which is a method of valuing NiHAO Mineral by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |