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Benchmark  United States  NYSE  10,958   28.252 Index Moved Down -0.26%  


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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   
 
Change Benchmark  Embed  Timeline 
Considering 30-days investment horizon, Ashland Inc is expected to under-perform the NuStar. But the stock apears to be less risky and, when comparing its historical volatility, Ashland Inc is 2.29 times less risky than NuStar. The stock trades about -0.13 of its potential returns per unit of risk. The NuStar Energy LP is currently generating about 0.22 of returns per unit of risk over similar time horizon. If you would invest  6,058  in NuStar Energy LP on June 22, 2014 and sell it today you would earn a total of  413.00  from holding NuStar Energy LP or generate 6.82% return on investment over 30 days.

Diversification

Modest 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

Correlation Coefficient

0.2
Parameters
Time Period1 Month [change]
DirectionPositive NS Moved Up vs ASH
StrengthVery Weak
Accuracy100.0%
ValuesDaily Returns
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Historical Performance Chart

Comparative Volatility

Predicted Return Density
 
Embed  
Returns:   
ASH   NS   

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

The Dow Chemical Company vs. Ashland Inc
Praxair Inc vs. Ashland Inc
Airgas Inc vs. Ashland Inc
  

NuStar Energy LP

  
Compared with the overall equity markets, risk-adjusted returns on investments in NuStar Energy LP are ranked lower than 11 (%) of all global equities and portfolios over the last 30 days.

Pair trading matchups for NuStar

Williams Companies Inc vs. NuStar Energy LP
Enbridge Inc vs. NuStar Energy LP
Kinder Morgan Energy Partners LP vs. NuStar Energy LP
Magellan Midstream Partners LP vs. NuStar Energy LP


 
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