Correlation Between Accelleron Industries and Chardan NexTech
Can any of the company-specific risk be diversified away by investing in both Accelleron Industries and Chardan NexTech 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 Accelleron Industries and Chardan NexTech into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Accelleron Industries AG and Chardan NexTech Acquisition, you can compare the effects of market volatilities on Accelleron Industries and Chardan NexTech 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 Accelleron Industries with a short position of Chardan NexTech. Check out your portfolio center. Please also check ongoing floating volatility patterns of Accelleron Industries and Chardan NexTech.
Diversification Opportunities for Accelleron Industries and Chardan NexTech
-0.71 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Accelleron and Chardan is -0.71. Overlapping area represents the amount of risk that can be diversified away by holding Accelleron Industries AG and Chardan NexTech Acquisition in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Chardan NexTech Acqu and Accelleron Industries 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 Accelleron Industries AG are associated (or correlated) with Chardan NexTech. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Chardan NexTech Acqu has no effect on the direction of Accelleron Industries i.e., Accelleron Industries and Chardan NexTech go up and down completely randomly.
Pair Corralation between Accelleron Industries and Chardan NexTech
Assuming the 90 days trading horizon Accelleron Industries AG is expected to under-perform the Chardan NexTech. But the stock apears to be less risky and, when comparing its historical volatility, Accelleron Industries AG is 17.82 times less risky than Chardan NexTech. The stock trades about -0.09 of its potential returns per unit of risk. The Chardan NexTech Acquisition is currently generating about 0.17 of returns per unit of risk over similar time horizon. If you would invest 2.67 in Chardan NexTech Acquisition on September 8, 2025 and sell it today you would earn a total of 7.33 from holding Chardan NexTech Acquisition or generate 274.53% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 98.48% |
| Values | Daily Returns |
Accelleron Industries AG vs. Chardan NexTech Acquisition
Performance |
| Timeline |
| Accelleron Industries |
| Chardan NexTech Acqu |
Accelleron Industries and Chardan NexTech Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Accelleron Industries and Chardan NexTech
The main advantage of trading using opposite Accelleron Industries and Chardan NexTech positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Accelleron Industries position performs unexpectedly, Chardan NexTech 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 Chardan NexTech will offset losses from the drop in Chardan NexTech's long position.| Accelleron Industries vs. Evolution Gaming Group | Accelleron Industries vs. Smithson Investment Trust | Accelleron Industries vs. Fortune Brands Home | Accelleron Industries vs. Taylor Maritime Investments |
| Chardan NexTech vs. NeoVolta Common Stock | Chardan NexTech vs. SKYX Platforms Corp | Chardan NexTech vs. Energy Services | Chardan NexTech vs. Surf Air Mobility |
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 Sectors module to list of equity sectors categorizing publicly traded companies based on their primary business activities.
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