Correlation Between Neptune Insurance and Clear Secure
Can any of the company-specific risk be diversified away by investing in both Neptune Insurance and Clear Secure 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 Clear Secure 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 Clear Secure, you can compare the effects of market volatilities on Neptune Insurance and Clear Secure 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 Clear Secure. Check out your portfolio center. Please also check ongoing floating volatility patterns of Neptune Insurance and Clear Secure.
Diversification Opportunities for Neptune Insurance and Clear Secure
-0.63 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Neptune and Clear is -0.63. Overlapping area represents the amount of risk that can be diversified away by holding Neptune Insurance Holdings and Clear Secure in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Clear Secure 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 Clear Secure. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Clear Secure has no effect on the direction of Neptune Insurance i.e., Neptune Insurance and Clear Secure go up and down completely randomly.
Pair Corralation between Neptune Insurance and Clear Secure
Allowing for the 90-day total investment horizon Neptune Insurance Holdings is expected to under-perform the Clear Secure. In addition to that, Neptune Insurance is 1.46 times more volatile than Clear Secure. It trades about -0.02 of its total potential returns per unit of risk. Clear Secure is currently generating about 0.0 per unit of volatility. If you would invest 3,571 in Clear Secure on September 2, 2025 and sell it today you would lose (118.00) from holding Clear Secure or give up 3.3% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 66.15% |
| Values | Daily Returns |
Neptune Insurance Holdings vs. Clear Secure
Performance |
| Timeline |
| Neptune Insurance |
| Clear Secure |
Neptune Insurance and Clear Secure Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Neptune Insurance and Clear Secure
The main advantage of trading using opposite Neptune Insurance and Clear Secure positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Neptune Insurance position performs unexpectedly, Clear Secure 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 Clear Secure will offset losses from the drop in Clear Secure's long position.| Neptune Insurance vs. Mitsubishi Materials | Neptune Insurance vs. BE Semiconductor Industries | Neptune Insurance vs. LATAM Airlines Group | Neptune Insurance vs. Yulong Eco Materials |
| Clear Secure vs. Marti Technologies | Clear Secure vs. Academy Sports Outdoors | Clear Secure vs. Columbia Sportswear | Clear Secure vs. Schweiter Technologies AG |
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 Pair Correlation module to compare performance and examine fundamental relationship between any two equity instruments.
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