Correlation Between Fair Isaac and Nextnav Acquisition
Can any of the company-specific risk be diversified away by investing in both Fair Isaac and Nextnav Acquisition 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 Fair Isaac and Nextnav Acquisition into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Fair Isaac and Nextnav Acquisition Corp, you can compare the effects of market volatilities on Fair Isaac and Nextnav Acquisition 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 Fair Isaac with a short position of Nextnav Acquisition. Check out your portfolio center. Please also check ongoing floating volatility patterns of Fair Isaac and Nextnav Acquisition.
Diversification Opportunities for Fair Isaac and Nextnav Acquisition
-0.63 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Fair and Nextnav is -0.63. Overlapping area represents the amount of risk that can be diversified away by holding Fair Isaac and Nextnav Acquisition Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Nextnav Acquisition Corp and Fair Isaac 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 Fair Isaac are associated (or correlated) with Nextnav Acquisition. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Nextnav Acquisition Corp has no effect on the direction of Fair Isaac i.e., Fair Isaac and Nextnav Acquisition go up and down completely randomly.
Pair Corralation between Fair Isaac and Nextnav Acquisition
Given the investment horizon of 90 days Fair Isaac is expected to generate 0.92 times more return on investment than Nextnav Acquisition. However, Fair Isaac is 1.08 times less risky than Nextnav Acquisition. It trades about 0.1 of its potential returns per unit of risk. Nextnav Acquisition Corp is currently generating about -0.08 per unit of risk. If you would invest 150,488 in Fair Isaac on September 2, 2025 and sell it today you would earn a total of 30,095 from holding Fair Isaac or generate 20.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Fair Isaac vs. Nextnav Acquisition Corp
Performance |
| Timeline |
| Fair Isaac |
| Nextnav Acquisition Corp |
Fair Isaac and Nextnav Acquisition Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Fair Isaac and Nextnav Acquisition
The main advantage of trading using opposite Fair Isaac and Nextnav Acquisition positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Fair Isaac position performs unexpectedly, Nextnav Acquisition 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 Nextnav Acquisition will offset losses from the drop in Nextnav Acquisition's long position.| Fair Isaac vs. Laureate Education | Fair Isaac vs. Huahui Education Group | Fair Isaac vs. GungHo Online Entertainment | Fair Isaac vs. Bright Scholar Education |
| Nextnav Acquisition vs. Plaza Retail REIT | Nextnav Acquisition vs. InRetail Per Corp | Nextnav Acquisition vs. Dream Industrial Real | Nextnav Acquisition vs. Hunter Creek Mining |
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 Efficient Frontier module to plot and analyze your portfolio and positions against risk-return landscape of the market..
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