Macroaxis: Personalized Investing

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Benchmark  United States  NYSE  10,875   9.9912 Index Moved Up 0.092%  


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Collecting data for ASH and NS ...

Correlation analysis between Ashland and NuStar  

    
Investment horizon:  
  30 Days    Login   to change
  
This module allows you to analyze existing cross correlation between Ashland Inc and NuStar Energy LP. You can compare the effects of market volatilities on Ashland and NuStar 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 Ashland with a short position of NuStar. Please also check ongoing floating volatility patterns of Ashland and NuStar.
 Ashland Inc.  vs   NuStar Energy L.P.
Daily Returns (%)
ASH   NS   
Benchmark  Embed   Timeline 
Considering 30-days investment horizon, Ashland Inc is expected to generate 0.8 times more return on investment than NuStar. However, Ashland Inc is 1.25 times less risky than NuStar. It trades about -0.01 of its potential returns per unit of risk. NuStar Energy LP is currently generating about -0.09 per unit of risk. If you would invest  12,801  in Ashland Inc on February 25, 2015 and sell it today you would lose (48.00) from holding Ashland Inc or give up 0.37% of portfolio value over 30 days.

Correlation Coefficient

-0.22

Parameters

Time Period1 Month [change]
DirectionNegative ASH Moved Down vs NS
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Very good diversification

Overlapping area represents amount of risk that can be diversified away by holding Ashland Inc. and NuStar Energy L.P. in the same portfolio assuming nothing else is changed

Historical Performance Chart

Comparative Volatility

Predicted Return Density  
Benchmark  Embed   Returns 

Ashland Inc

  
Over the last 30 days Ashland Inc has generated negative risk-adjusted returns adding no value to investors with long positions.

Pair trading matchups for Ashland

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NuStar Energy LP

  
Over the last 30 days NuStar Energy LP has generated negative risk-adjusted returns adding no value to investors with long positions.

Pair trading matchups for NuStar

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