Correlation Between Nebius Group and Telus Corp
Can any of the company-specific risk be diversified away by investing in both Nebius Group and Telus Corp 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 Nebius Group and Telus Corp into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Nebius Group NV and Telus Corp, you can compare the effects of market volatilities on Nebius Group and Telus Corp 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 Nebius Group with a short position of Telus Corp. Check out your portfolio center. Please also check ongoing floating volatility patterns of Nebius Group and Telus Corp.
Diversification Opportunities for Nebius Group and Telus Corp
-0.08 | Correlation Coefficient |
Good diversification
The 3 months correlation between Nebius and Telus is -0.08. Overlapping area represents the amount of risk that can be diversified away by holding Nebius Group NV and Telus Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Telus Corp and Nebius Group 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 Nebius Group NV are associated (or correlated) with Telus Corp. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Telus Corp has no effect on the direction of Nebius Group i.e., Nebius Group and Telus Corp go up and down completely randomly.
Pair Corralation between Nebius Group and Telus Corp
Given the investment horizon of 90 days Nebius Group NV is expected to generate 7.73 times more return on investment than Telus Corp. However, Nebius Group is 7.73 times more volatile than Telus Corp. It trades about 0.12 of its potential returns per unit of risk. Telus Corp is currently generating about -0.34 per unit of risk. If you would invest 6,565 in Nebius Group NV on September 3, 2025 and sell it today you would earn a total of 3,450 from holding Nebius Group NV or generate 52.55% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Nebius Group NV vs. Telus Corp
Performance |
| Timeline |
| Nebius Group NV |
| Telus Corp |
Nebius Group and Telus Corp Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Nebius Group and Telus Corp
The main advantage of trading using opposite Nebius Group and Telus Corp positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Nebius Group position performs unexpectedly, Telus Corp 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 Telus Corp will offset losses from the drop in Telus Corp's long position.| Nebius Group vs. United Utilities Group | Nebius Group vs. CVR Medical Corp | Nebius Group vs. Spirent Communications plc | Nebius Group vs. Kelvin Medical |
| Telus Corp vs. Broadcom | Telus Corp vs. Road King Infrastructure | Telus Corp vs. Healthy Coffee International | Telus Corp vs. Good Times Restaurants |
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 Technical Analysis module to check basic technical indicators and analysis based on most latest market data.
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