Correlation Between New Amer and Atlanticus Holdings
Can any of the company-specific risk be diversified away by investing in both New Amer and Atlanticus Holdings 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 New Amer and Atlanticus Holdings into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between New Amer Energy and Atlanticus Holdings Corp, you can compare the effects of market volatilities on New Amer and Atlanticus Holdings 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 New Amer with a short position of Atlanticus Holdings. Check out your portfolio center. Please also check ongoing floating volatility patterns of New Amer and Atlanticus Holdings.
Diversification Opportunities for New Amer and Atlanticus Holdings
-0.17 | Correlation Coefficient |
Good diversification
The 3 months correlation between New and Atlanticus is -0.17. Overlapping area represents the amount of risk that can be diversified away by holding New Amer Energy and Atlanticus Holdings Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Atlanticus Holdings Corp and New Amer 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 New Amer Energy are associated (or correlated) with Atlanticus Holdings. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Atlanticus Holdings Corp has no effect on the direction of New Amer i.e., New Amer and Atlanticus Holdings go up and down completely randomly.
Pair Corralation between New Amer and Atlanticus Holdings
If you would invest 2,281 in Atlanticus Holdings Corp on August 30, 2024 and sell it today you would earn a total of 127.00 from holding Atlanticus Holdings Corp or generate 5.57% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 4.35% |
| Values | Daily Returns |
New Amer Energy vs. Atlanticus Holdings Corp
Performance |
| Timeline |
| New Amer Energy |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| Atlanticus Holdings Corp |
New Amer and Atlanticus Holdings Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with New Amer and Atlanticus Holdings
The main advantage of trading using opposite New Amer and Atlanticus Holdings positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if New Amer position performs unexpectedly, Atlanticus Holdings 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 Atlanticus Holdings will offset losses from the drop in Atlanticus Holdings' long position.| New Amer vs. Cosmos Group Holdings | New Amer vs. CYIOS | New Amer vs. Mill City Ventures | New Amer vs. Finance of America |
| Atlanticus Holdings vs. Capital One Financial | Atlanticus Holdings vs. Capital One Financial | Atlanticus Holdings vs. Citizens Financial Group | Atlanticus Holdings vs. Wells Fargo |
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 Commodity Directory module to find actively traded commodities issued by global exchanges.
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