Correlation Between Newton Golf and American Rebel
Can any of the company-specific risk be diversified away by investing in both Newton Golf and American Rebel 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 Newton Golf and American Rebel into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Newton Golf and American Rebel Holdings, you can compare the effects of market volatilities on Newton Golf and American Rebel 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 Newton Golf with a short position of American Rebel. Check out your portfolio center. Please also check ongoing floating volatility patterns of Newton Golf and American Rebel.
Diversification Opportunities for Newton Golf and American Rebel
0.55 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Newton and American is 0.55. Overlapping area represents the amount of risk that can be diversified away by holding Newton Golf and American Rebel Holdings in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on American Rebel Holdings and Newton Golf 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 Newton Golf are associated (or correlated) with American Rebel. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of American Rebel Holdings has no effect on the direction of Newton Golf i.e., Newton Golf and American Rebel go up and down completely randomly.
Pair Corralation between Newton Golf and American Rebel
Given the investment horizon of 90 days Newton Golf is expected to generate 0.35 times more return on investment than American Rebel. However, Newton Golf is 2.86 times less risky than American Rebel. It trades about 0.0 of its potential returns per unit of risk. American Rebel Holdings is currently generating about -0.1 per unit of risk. If you would invest 193.00 in Newton Golf on September 13, 2025 and sell it today you would lose (27.00) from holding Newton Golf or give up 13.99% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Newton Golf vs. American Rebel Holdings
Performance |
| Timeline |
| Newton Golf |
| American Rebel Holdings |
Newton Golf and American Rebel Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Newton Golf and American Rebel
The main advantage of trading using opposite Newton Golf and American Rebel positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Newton Golf position performs unexpectedly, American Rebel 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 American Rebel will offset losses from the drop in American Rebel's long position.| Newton Golf vs. American Rebel Holdings | Newton Golf vs. Kaixin Auto Holdings | Newton Golf vs. ECD Automotive Design | Newton Golf vs. INNEOVA Holdings Limited |
| American Rebel vs. Charles Colvard | American Rebel vs. MKDWELL Tech Ordinary | American Rebel vs. Vision Marine Technologies | American Rebel vs. EZGO Technologies |
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 Bond Analysis module to evaluate and analyze corporate bonds as a potential investment for your portfolios..
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