Correlation Between Neptune Insurance and Advent Technologies
Can any of the company-specific risk be diversified away by investing in both Neptune Insurance and Advent Technologies 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 Neptune Insurance and Advent Technologies into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Neptune Insurance Holdings and Advent Technologies Holdings, you can compare the effects of market volatilities on Neptune Insurance and Advent Technologies 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 Neptune Insurance with a short position of Advent Technologies. Check out your portfolio center. Please also check ongoing floating volatility patterns of Neptune Insurance and Advent Technologies.
Diversification Opportunities for Neptune Insurance and Advent Technologies
0.27 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Neptune and Advent is 0.27. Overlapping area represents the amount of risk that can be diversified away by holding Neptune Insurance Holdings and Advent Technologies Holdings in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Advent Technologies and Neptune Insurance 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 Neptune Insurance Holdings are associated (or correlated) with Advent Technologies. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Advent Technologies has no effect on the direction of Neptune Insurance i.e., Neptune Insurance and Advent Technologies go up and down completely randomly.
Pair Corralation between Neptune Insurance and Advent Technologies
Allowing for the 90-day total investment horizon Neptune Insurance Holdings is expected to generate 0.34 times more return on investment than Advent Technologies. However, Neptune Insurance Holdings is 2.93 times less risky than Advent Technologies. It trades about 0.02 of its potential returns per unit of risk. Advent Technologies Holdings is currently generating about -0.16 per unit of risk. If you would invest 2,480 in Neptune Insurance Holdings on August 30, 2025 and sell it today you would earn a total of 19.00 from holding Neptune Insurance Holdings or generate 0.77% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 65.63% |
| Values | Daily Returns |
Neptune Insurance Holdings vs. Advent Technologies Holdings
Performance |
| Timeline |
| Neptune Insurance |
| Advent Technologies |
Neptune Insurance and Advent Technologies Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Neptune Insurance and Advent Technologies
The main advantage of trading using opposite Neptune Insurance and Advent Technologies positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Neptune Insurance position performs unexpectedly, Advent Technologies 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 Advent Technologies will offset losses from the drop in Advent Technologies' long position.| Neptune Insurance vs. Shenzhen Investment Holdings | Neptune Insurance vs. PennyMac Mortgage Investment | Neptune Insurance vs. SM Investments | Neptune Insurance vs. AG Mortgage Investment |
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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 Anywhere module to track or share privately all of your investments from the convenience of any device.
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