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Benchmark  United States  NYSE  10,584   15.514 Index Moved Down -0.15%  


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Correlation analysis between Ashland and NuStar

 
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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. Please also check ongoing floating volatility patterns of Ashland and NuStar.
 
 Ashland Inc.  vs   NuStar Energy L.P.
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Daily Returns (%)
ASH   NS   
 
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Considering 30-days investment horizon, Ashland Inc is expected to under-perform the NuStar. In addition to that, Ashland is 1.39 times more volatile than NuStar Energy LP. It trades about -0.02 of its total potential returns per unit of risk. NuStar Energy LP is currently generating about 0.26 per unit of volatility. If you would invest  5,454  in NuStar Energy LP on March 24, 2014 and sell it today you would earn a total of  184.00  from holding NuStar Energy LP or generate 3.37% return on investment over 30 days.

Diversification

Average 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

0.13
Parameters
Time Period1 Month [change]
DirectionPositive NS Moved Up vs ASH
StrengthInsignificant
Accuracy95.24%
ValuesDaily Returns
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Predicted Return Density
 
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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.
    

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NuStar Energy LP

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

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