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Benchmark  United States  NYSE  11,037   4.841 Index Moved Down -0.04%  


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Collecting data for ASH and NS ...

Correlation analysis between Ashland and NuStar 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 generate 0.55 times more return on investment than NuStar. However, Ashland Inc is 1.82 times less risky than NuStar. It trades about 0.25 of its potential returns per unit of risk. NuStar Energy LP is currently generating about -0.21 per unit of risk. If you would invest  10,582  in Ashland Inc on October 26, 2014 and sell it today you would earn a total of  715  from holding Ashland Inc or generate 6.76% return on investment over 30 days.

Correlation Coefficient

-0.24
Parameters
Time Period1 Month [change]
DirectionNegative ASH Moved Down vs NS
StrengthInsignificant
Accuracy95.45%
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
Investing ideals could easily outperform a given market if properly optimized
Get NuStar Energy LP research report. Reports are available in pdf format. Click NuStar Report to view
  
NuStar Report  
Get Ashland Inc research report. Reports are available in pdf format. Click Ashland Report to view
  
Ashland Report  

Historical Performance Chart

Comparative Volatility

Predicted Return Density
 
Change Benchmark  Embed   Returns 

Ashland Inc

  
Compared with the overall equity markets, risk-adjusted returns on investments in Ashland Inc are ranked lower than 14 (%) of all global equities and portfolios over the last 30 days.

Pair trading matchups for Ashland

Praxair Inc vs. Ashland Inc
Celanese Corporation vs. Ashland Inc
Airgas Inc vs. Ashland Inc
FMC Corp vs. Ashland Inc
  

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

Kinder Morgan Energy Partners LP vs. NuStar Energy LP
Energy Transfer Partners LP vs. NuStar Energy LP


 

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