Correlation Between 00108WAF7 and NOMURA
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By analyzing existing cross correlation between AEP TEX INC and NOMURA HOLDINGS INC, you can compare the effects of market volatilities on 00108WAF7 and NOMURA 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 00108WAF7 with a short position of NOMURA. Check out your portfolio center. Please also check ongoing floating volatility patterns of 00108WAF7 and NOMURA.
Diversification Opportunities for 00108WAF7 and NOMURA
Good diversification
The 3 months correlation between 00108WAF7 and NOMURA is -0.12. Overlapping area represents the amount of risk that can be diversified away by holding AEP TEX INC and NOMURA HOLDINGS INC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on NOMURA HOLDINGS INC and 00108WAF7 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 AEP TEX INC are associated (or correlated) with NOMURA. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of NOMURA HOLDINGS INC has no effect on the direction of 00108WAF7 i.e., 00108WAF7 and NOMURA go up and down completely randomly.
Pair Corralation between 00108WAF7 and NOMURA
Assuming the 90 days trading horizon AEP TEX INC is expected to generate 2.68 times more return on investment than NOMURA. However, 00108WAF7 is 2.68 times more volatile than NOMURA HOLDINGS INC. It trades about 0.14 of its potential returns per unit of risk. NOMURA HOLDINGS INC is currently generating about 0.05 per unit of risk. If you would invest 7,469 in AEP TEX INC on August 31, 2024 and sell it today you would lose (380.00) from holding AEP TEX INC or give up 5.09% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 82.03% |
| Values | Daily Returns |
AEP TEX INC vs. NOMURA HOLDINGS INC
Performance |
| Timeline |
| AEP TEX INC |
| NOMURA HOLDINGS INC |
00108WAF7 and NOMURA Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with 00108WAF7 and NOMURA
The main advantage of trading using opposite 00108WAF7 and NOMURA positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if 00108WAF7 position performs unexpectedly, NOMURA 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 NOMURA will offset losses from the drop in NOMURA's long position.| 00108WAF7 vs. Asure Software | 00108WAF7 vs. Casio Computer Co | 00108WAF7 vs. Haverty Furniture Companies | 00108WAF7 vs. SL Green Realty |
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 Sync Your Broker module to sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors..
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