Correlation Between Douglas Emmett and Nok Airlines
Can any of the company-specific risk be diversified away by investing in both Douglas Emmett and Nok Airlines 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 Douglas Emmett and Nok Airlines into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Douglas Emmett and Nok Airlines Public, you can compare the effects of market volatilities on Douglas Emmett and Nok Airlines 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 Douglas Emmett with a short position of Nok Airlines. Check out your portfolio center. Please also check ongoing floating volatility patterns of Douglas Emmett and Nok Airlines.
Diversification Opportunities for Douglas Emmett and Nok Airlines
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Douglas and Nok is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Douglas Emmett and Nok Airlines Public in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Nok Airlines Public and Douglas Emmett 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 Douglas Emmett are associated (or correlated) with Nok Airlines. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Nok Airlines Public has no effect on the direction of Douglas Emmett i.e., Douglas Emmett and Nok Airlines go up and down completely randomly.
Pair Corralation between Douglas Emmett and Nok Airlines
If you would invest 1,430 in Douglas Emmett on May 27, 2025 and sell it today you would earn a total of 123.00 from holding Douglas Emmett or generate 8.6% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 98.44% |
| Values | Daily Returns |
Douglas Emmett vs. Nok Airlines Public
Performance |
| Timeline |
| Douglas Emmett |
| Nok Airlines Public |
Douglas Emmett and Nok Airlines Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Douglas Emmett and Nok Airlines
The main advantage of trading using opposite Douglas Emmett and Nok Airlines positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Douglas Emmett position performs unexpectedly, Nok Airlines 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 Nok Airlines will offset losses from the drop in Nok Airlines' long position.| Douglas Emmett vs. Hudson Pacific Properties | Douglas Emmett vs. Kilroy Realty Corp | Douglas Emmett vs. COPT Defense Properties | Douglas Emmett vs. Highwoods Properties |
| Nok Airlines vs. Cebu Air | Nok Airlines vs. Finnair Oyj | Nok Airlines vs. easyJet plc | Nok Airlines vs. Norse Atlantic ASA |
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 Fundamentals Comparison module to compare fundamentals across multiple equities to find investing opportunities.
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