Nu Ride Correlations
| NRDE Stock | 1.30 0.02 1.52% |
The current 90-days correlation between Nu Ride and First Hydrogen Corp is -0.15 (i.e., Good diversification). The correlation of Nu Ride 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.
Nu Ride Correlation With Market
Good diversification
The correlation between Nu Ride and DJI is -0.02 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nu Ride and DJI in the same portfolio, assuming nothing else is changed.
NRDE |
The ability to find closely correlated positions to Nu Ride could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Nu Ride 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 Nu Ride - 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 Nu Ride to buy it.
Moving together with NRDE OTC Stock
Moving against NRDE OTC Stock
| 0.92 | GOOG | Alphabet Class C Sell-off Trend | PairCorr |
| 0.92 | REGN | Regeneron Pharmaceuticals | PairCorr |
| 0.87 | CX | Cemex SAB de Sell-off Trend | PairCorr |
| 0.86 | AAPL | Apple Inc | PairCorr |
| 0.81 | KYOCF | Kyocera | PairCorr |
| 0.79 | BMYMP | Bristol Myers Squibb | PairCorr |
| 0.74 | CHACR | Crane Harbor Acquisition | PairCorr |
| 0.47 | AVGO | Broadcom Aggressive Push | PairCorr |
| 0.45 | ADC | Agree Realty | PairCorr |
| 0.45 | CRRFY | Carrefour SA PK | PairCorr |
| 0.4 | AMZN | Amazon Inc Aggressive Push | PairCorr |
| 0.38 | EFTR | Effector Therapeutics | PairCorr |
| 0.34 | ALVLF | Big Ridge Gold | PairCorr |
| 0.34 | BLMC | Biloxi Marsh Lands | PairCorr |
| 0.93 | RLMD | Relmada Therapeutics | PairCorr |
| 0.91 | APGE | Apogee Therapeutics, | PairCorr |
| 0.86 | AKAM | Akamai Technologies | PairCorr |
| 0.86 | GM | General Motors | PairCorr |
| 0.8 | SHIP | Seanergy Maritime | PairCorr |
| 0.79 | DNLMY | Dunelm Group PLC | PairCorr |
| 0.77 | EGP | EastGroup Properties | PairCorr |
| 0.76 | HL | Hecla Mining | PairCorr |
| 0.71 | BAC | Bank of America | PairCorr |
| 0.69 | STAG | STAG Industrial | PairCorr |
| 0.68 | IDN | Intellicheck Mobilisa | PairCorr |
Related Correlations Analysis
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between NRDE OTC Stock performing well and Nu Ride OTC Stock 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 Nu Ride'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| FHYDF | 2.91 | (0.43) | 0.00 | (1.75) | 0.00 | 3.45 | 20.69 | |||
| ESPGY | 20.69 | 8.13 | 0.30 | (0.30) | 15.25 | 10.00 | 590.19 | |||
| GBXXY | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| BSHI | 0.24 | (0.02) | 0.00 | (0.08) | 0.00 | 0.00 | 14.24 | |||
| GMELF | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| PKSGY | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| PRKA | 0.53 | (0.21) | 0.00 | (2.82) | 0.00 | 0.26 | 13.31 | |||
| IFABF | 2.64 | 0.65 | 0.08 | (1.53) | 2.93 | 10.38 | 22.04 | |||
| KICK | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| JPOTF | 3.56 | (0.38) | 0.00 | (0.25) | 0.00 | 7.11 | 31.56 |
Nu Ride 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 Nu Ride otc stock to make a market-neutral strategy. Peer analysis of Nu Ride could also be used in its relative valuation, which is a method of valuing Nu Ride by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |