Correlation Between National Retail and Entegris
Can any of the company-specific risk be diversified away by investing in both National Retail and Entegris 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 National Retail and Entegris into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between National Retail Properties and Entegris, you can compare the effects of market volatilities on National Retail and Entegris 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 National Retail with a short position of Entegris. Check out your portfolio center. Please also check ongoing floating volatility patterns of National Retail and Entegris.
Diversification Opportunities for National Retail and Entegris
0.29 | Correlation Coefficient |
Modest diversification
The 3 months correlation between National and Entegris is 0.29. Overlapping area represents the amount of risk that can be diversified away by holding National Retail Properties and Entegris in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Entegris and National Retail 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 National Retail Properties are associated (or correlated) with Entegris. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Entegris has no effect on the direction of National Retail i.e., National Retail and Entegris go up and down completely randomly.
Pair Corralation between National Retail and Entegris
Considering the 90-day investment horizon National Retail Properties is expected to under-perform the Entegris. But the stock apears to be less risky and, when comparing its historical volatility, National Retail Properties is 4.11 times less risky than Entegris. The stock trades about -0.07 of its potential returns per unit of risk. The Entegris is currently generating about 0.06 of returns per unit of risk over similar time horizon. If you would invest 8,113 in Entegris on September 9, 2025 and sell it today you would earn a total of 921.50 from holding Entegris or generate 11.36% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
National Retail Properties vs. Entegris
Performance |
| Timeline |
| National Retail Prop |
| Entegris |
National Retail and Entegris Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with National Retail and Entegris
The main advantage of trading using opposite National Retail and Entegris positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if National Retail position performs unexpectedly, Entegris 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 Entegris will offset losses from the drop in Entegris' long position.| National Retail vs. Peakstone Realty Trust | National Retail vs. Postal Realty Trust | National Retail vs. Site Centers Corp | National Retail vs. One Liberty Properties |
| Entegris vs. Rambus Inc | Entegris vs. Nova | Entegris vs. Skyworks Solutions | Entegris vs. Tower Semiconductor |
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 Portfolio Center module to all portfolio management and optimization tools to improve performance of your portfolios.
Other Complementary Tools
| Companies Directory Evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals | |
| Bonds Directory Find actively traded corporate debentures issued by US companies | |
| Money Managers Screen money managers from public funds and ETFs managed around the world | |
| Commodity Channel Use Commodity Channel Index to analyze current equity momentum | |
| Alpha Finder Use alpha and beta coefficients to find investment opportunities after accounting for the risk |