Correlation Between AST SpaceMobile and Nickel Creek
Can any of the company-specific risk be diversified away by investing in both AST SpaceMobile and Nickel Creek at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining AST SpaceMobile and Nickel Creek into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between AST SpaceMobile and Nickel Creek Platinum, you can compare the effects of market volatilities on AST SpaceMobile and Nickel Creek and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in AST SpaceMobile with a short position of Nickel Creek. Check out your portfolio center. Please also check ongoing floating volatility patterns of AST SpaceMobile and Nickel Creek.
Diversification Opportunities for AST SpaceMobile and Nickel Creek
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between AST and Nickel is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding AST SpaceMobile and Nickel Creek Platinum in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Nickel Creek Platinum and AST SpaceMobile is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on AST SpaceMobile are associated (or correlated) with Nickel Creek. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Nickel Creek Platinum has no effect on the direction of AST SpaceMobile i.e., AST SpaceMobile and Nickel Creek go up and down completely randomly.
Pair Corralation between AST SpaceMobile and Nickel Creek
If you would invest (100.00) in AST SpaceMobile on November 28, 2024 and sell it today you would earn a total of 100.00 from holding AST SpaceMobile or generate -100.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
AST SpaceMobile vs. Nickel Creek Platinum
Performance |
| Timeline |
| AST SpaceMobile |
Risk-Adjusted Performance
Very Weak
Weak | Strong |
| Nickel Creek Platinum |
AST SpaceMobile and Nickel Creek Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with AST SpaceMobile and Nickel Creek
The main advantage of trading using opposite AST SpaceMobile and Nickel Creek positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if AST SpaceMobile position performs unexpectedly, Nickel Creek can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Nickel Creek will offset losses from the drop in Nickel Creek's long position.| AST SpaceMobile vs. Origin Materials Warrant | AST SpaceMobile vs. Ast Spacemobile | AST SpaceMobile vs. Paysafe Ltd Wt | AST SpaceMobile vs. EVgo Equity Warrants |
| Nickel Creek vs. Ridgestone Mining | Nickel Creek vs. Focus Graphite | Nickel Creek vs. Jervois Mining | Nickel Creek vs. Altius Minerals |
Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Price Transformation module to use Price Transformation models to analyze the depth of different equity instruments across global markets.
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