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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 is expected to generate 1.8 times less return on investment than NuStar. In addition to that, Ashland is 1.09 times more volatile than NuStar Energy LP. It trades about 0.05 of its total potential returns per unit of risk. NuStar Energy LP is currently generating about 0.09 per unit of volatility. If you would invest  6,427  in NuStar Energy LP on July 22, 2014 and sell it today you would earn a total of  121.00  from holding NuStar Energy LP or generate 1.88% return on investment over 30 days.

Correlation Coefficient

0.28
Parameters
Time Period1 Month [change]
DirectionPositive NS Moved Up vs ASH
StrengthVery Weak
Accuracy95.65%
ValuesDaily Returns

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
Investing ideals could easily outperform a given market if properly optimized
  
NuStar Report  
  
Ashland Report  

Historical Performance Chart

Comparative Volatility

Predicted Return Density
 
Embed  
Returns:   
ASH   NS   

Ashland Inc

  
Compared with the overall equity markets, risk-adjusted returns on investments in Ashland Inc are ranked lower than 2 (%) of all global equities and portfolios over the last 30 days.

Pair trading matchups for Ashland

The Dow Chemical Company vs. Ashland Inc
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Airgas Inc vs. Ashland Inc
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Huntsman Corporation 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 5 (%) of all global equities and portfolios over the last 30 days.

Pair trading matchups for NuStar

Enbridge Inc vs. NuStar Energy LP
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Energy Transfer Equity LP vs. NuStar Energy LP
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Magellan Midstream Partners LP vs. NuStar Energy LP
Energy Transfer Partners LP vs. NuStar Energy LP
Cheniere Energy Inc vs. NuStar Energy LP


 
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