Correlation Between NAT ABSOLUTE and Future Park
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By analyzing existing cross correlation between NAT ABSOLUTE TECHNOLOGIES and Future Park Leasehold, you can compare the effects of market volatilities on NAT ABSOLUTE and Future Park 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 NAT ABSOLUTE with a short position of Future Park. Check out your portfolio center. Please also check ongoing floating volatility patterns of NAT ABSOLUTE and Future Park.
Diversification Opportunities for NAT ABSOLUTE and Future Park
-0.28 | Correlation Coefficient |
Very good diversification
The 3 months correlation between NAT and Future is -0.28. Overlapping area represents the amount of risk that can be diversified away by holding NAT ABSOLUTE TECHNOLOGIES and Future Park Leasehold in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Future Park Leasehold and NAT ABSOLUTE 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 NAT ABSOLUTE TECHNOLOGIES are associated (or correlated) with Future Park. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Future Park Leasehold has no effect on the direction of NAT ABSOLUTE i.e., NAT ABSOLUTE and Future Park go up and down completely randomly.
Pair Corralation between NAT ABSOLUTE and Future Park
Assuming the 90 days trading horizon NAT ABSOLUTE TECHNOLOGIES is expected to generate 0.05 times more return on investment than Future Park. However, NAT ABSOLUTE TECHNOLOGIES is 21.36 times less risky than Future Park. It trades about -0.36 of its potential returns per unit of risk. Future Park Leasehold is currently generating about -0.22 per unit of risk. If you would invest 480.00 in NAT ABSOLUTE TECHNOLOGIES on September 4, 2024 and sell it today you would lose (38.00) from holding NAT ABSOLUTE TECHNOLOGIES or give up 7.92% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 95.45% |
| Values | Daily Returns |
NAT ABSOLUTE TECHNOLOGIES vs. Future Park Leasehold
Performance |
| Timeline |
| NAT ABSOLUTE TECHNOLOGIES |
| Future Park Leasehold |
NAT ABSOLUTE and Future Park Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with NAT ABSOLUTE and Future Park
The main advantage of trading using opposite NAT ABSOLUTE and Future Park positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if NAT ABSOLUTE position performs unexpectedly, Future Park 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 Future Park will offset losses from the drop in Future Park's long position.| NAT ABSOLUTE vs. Delta Electronics Public | NAT ABSOLUTE vs. Delta Electronics Public | NAT ABSOLUTE vs. Airports of Thailand | NAT ABSOLUTE vs. Airports of Thailand |
| Future Park vs. Fine Metal Technologies | Future Park vs. NAT ABSOLUTE TECHNOLOGIES | Future Park vs. Qualitech Public | Future Park vs. Techno Medical Public |
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 Financial Widgets module to easily integrated Macroaxis content with over 30 different plug-and-play financial widgets.
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