Correlation Between Central Asia and National Atomic
Can any of the company-specific risk be diversified away by investing in both Central Asia and National Atomic 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 Central Asia and National Atomic into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Central Asia Metals and National Atomic Co, you can compare the effects of market volatilities on Central Asia and National Atomic 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 Central Asia with a short position of National Atomic. Check out your portfolio center. Please also check ongoing floating volatility patterns of Central Asia and National Atomic.
Diversification Opportunities for Central Asia and National Atomic
0.08 | Correlation Coefficient |
Significant diversification
The 3 months correlation between Central and National is 0.08. Overlapping area represents the amount of risk that can be diversified away by holding Central Asia Metals and National Atomic Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on National Atomic and Central Asia 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 Central Asia Metals are associated (or correlated) with National Atomic. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of National Atomic has no effect on the direction of Central Asia i.e., Central Asia and National Atomic go up and down completely randomly.
Pair Corralation between Central Asia and National Atomic
Assuming the 90 days trading horizon Central Asia Metals is expected to under-perform the National Atomic. But the stock apears to be less risky and, when comparing its historical volatility, Central Asia Metals is 1.28 times less risky than National Atomic. The stock trades about -0.01 of its potential returns per unit of risk. The National Atomic Co is currently generating about 0.12 of returns per unit of risk over similar time horizon. If you would invest 4,585 in National Atomic Co on September 3, 2025 and sell it today you would earn a total of 1,015 from holding National Atomic Co or generate 22.14% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Central Asia Metals vs. National Atomic Co
Performance |
| Timeline |
| Central Asia Metals |
| National Atomic |
Central Asia and National Atomic Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Central Asia and National Atomic
The main advantage of trading using opposite Central Asia and National Atomic positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Central Asia position performs unexpectedly, National Atomic 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 National Atomic will offset losses from the drop in National Atomic's long position.| Central Asia vs. Intermediate Capital Group | Central Asia vs. Gamma Communications PLC | Central Asia vs. MediaZest plc | Central Asia vs. UNIQA Insurance Group |
| National Atomic vs. JPMorgan Japanese Investment | National Atomic vs. Mineral Financial Investments | National Atomic vs. Taylor Maritime Investments | National Atomic vs. Tyson Foods Cl |
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 Commodity Directory module to find actively traded commodities issued by global exchanges.
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