Correlation Between Nok Airlines and SOCGEN
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By analyzing existing cross correlation between Nok Airlines Public and SOCGEN 425 14 APR 25, you can compare the effects of market volatilities on Nok Airlines and SOCGEN 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 SOCGEN. Check out your portfolio center. Please also check ongoing floating volatility patterns of Nok Airlines and SOCGEN.
Diversification Opportunities for Nok Airlines and SOCGEN
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Nok and SOCGEN is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Nok Airlines Public and SOCGEN 425 14 APR 25 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SOCGEN 425 14 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 SOCGEN. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SOCGEN 425 14 has no effect on the direction of Nok Airlines i.e., Nok Airlines and SOCGEN go up and down completely randomly.
Pair Corralation between Nok Airlines and SOCGEN
If you would invest 0.00 in SOCGEN 425 14 APR 25 on September 4, 2024 and sell it today you would earn a total of 0.00 from holding SOCGEN 425 14 APR 25 or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.2% |
| Values | Daily Returns |
Nok Airlines Public vs. SOCGEN 425 14 APR 25
Performance |
| Timeline |
| Nok Airlines Public |
| SOCGEN 425 14 |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Nok Airlines and SOCGEN Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Nok Airlines and SOCGEN
The main advantage of trading using opposite Nok Airlines and SOCGEN positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Nok Airlines position performs unexpectedly, SOCGEN 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 SOCGEN will offset losses from the drop in SOCGEN'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 |
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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 Screener module to find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook..
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