Correlation Between Nisun International and Atlanticus Holdings
Can any of the company-specific risk be diversified away by investing in both Nisun International 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 Nisun International and Atlanticus Holdings into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Nisun International Enterprise and Atlanticus Holdings Corp, you can compare the effects of market volatilities on Nisun International 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 Nisun International with a short position of Atlanticus Holdings. Check out your portfolio center. Please also check ongoing floating volatility patterns of Nisun International and Atlanticus Holdings.
Diversification Opportunities for Nisun International and Atlanticus Holdings
-0.67 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Nisun and Atlanticus is -0.67. Overlapping area represents the amount of risk that can be diversified away by holding Nisun International Enterprise 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 Nisun International 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 Nisun International Enterprise 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 Nisun International i.e., Nisun International and Atlanticus Holdings go up and down completely randomly.
Pair Corralation between Nisun International and Atlanticus Holdings
Given the investment horizon of 90 days Nisun International Enterprise is expected to under-perform the Atlanticus Holdings. In addition to that, Nisun International is 10.91 times more volatile than Atlanticus Holdings Corp. It trades about -0.11 of its total potential returns per unit of risk. Atlanticus Holdings Corp is currently generating about 0.1 per unit of volatility. If you would invest 2,248 in Atlanticus Holdings Corp on September 12, 2024 and sell it today you would earn a total of 102.00 from holding Atlanticus Holdings Corp or generate 4.54% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Nisun International Enterprise vs. Atlanticus Holdings Corp
Performance |
| Timeline |
| Nisun International |
| Atlanticus Holdings Corp |
Nisun International and Atlanticus Holdings Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Nisun International and Atlanticus Holdings
The main advantage of trading using opposite Nisun International and Atlanticus Holdings positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Nisun International 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.| Nisun International vs. Sentage Holdings | Nisun International vs. Yirendai | Nisun International vs. Lexinfintech Holdings | Nisun International vs. Lufax Holding |
| Atlanticus Holdings vs. Babcock Wilcox Enterprises | Atlanticus Holdings vs. XOMA Corporation | Atlanticus Holdings vs. Brighthouse Financial | Atlanticus Holdings vs. Presidio Property Trust |
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 Investing Opportunities module to build portfolios using our predefined set of ideas and optimize them against your investing preferences.
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