Correlation Between Nok Airlines and 81685VAA1
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By analyzing existing cross correlation between Nok Airlines Public and SRE 325 15 JAN 32, you can compare the effects of market volatilities on Nok Airlines and 81685VAA1 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 Nok Airlines with a short position of 81685VAA1. Check out your portfolio center. Please also check ongoing floating volatility patterns of Nok Airlines and 81685VAA1.
Diversification Opportunities for Nok Airlines and 81685VAA1
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Nok and 81685VAA1 is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Nok Airlines Public and SRE 325 15 JAN 32 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SRE 325 15 and Nok Airlines 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 Nok Airlines Public are associated (or correlated) with 81685VAA1. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SRE 325 15 has no effect on the direction of Nok Airlines i.e., Nok Airlines and 81685VAA1 go up and down completely randomly.
Pair Corralation between Nok Airlines and 81685VAA1
If you would invest 7,853 in SRE 325 15 JAN 32 on September 14, 2024 and sell it today you would earn a total of 212.00 from holding SRE 325 15 JAN 32 or generate 2.7% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 44.78% |
| Values | Daily Returns |
Nok Airlines Public vs. SRE 325 15 JAN 32
Performance |
| Timeline |
| Nok Airlines Public |
| SRE 325 15 |
Nok Airlines and 81685VAA1 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Nok Airlines and 81685VAA1
The main advantage of trading using opposite Nok Airlines and 81685VAA1 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Nok Airlines position performs unexpectedly, 81685VAA1 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 81685VAA1 will offset losses from the drop in 81685VAA1's long position.| Nok Airlines vs. Finnair Oyj | Nok Airlines vs. easyJet plc | Nok Airlines vs. Norse Atlantic ASA | Nok Airlines vs. Air New Zealand |
| 81685VAA1 vs. JetBlue Airways Corp | 81685VAA1 vs. Sun Life Financial | 81685VAA1 vs. Nok Airlines Public | 81685VAA1 vs. MGIC Investment Corp |
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 Stock Tickers module to use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites.
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