Air New Correlations
| ANZLY Stock | USD 1.64 0.04 2.38% |
The correlation of Air New is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Air New moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Air New Zealand moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Significant diversification
The correlation between Air New Zealand and NYA is 0.06 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Air New Zealand and NYA in the same portfolio, assuming nothing else is changed.
Air |
The ability to find closely correlated positions to Air New could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Air New when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Air New - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Air New Zealand to buy it.
Moving together with Air Pink Sheet
| 0.74 | RYAAY | Ryanair Holdings PLC Financial Report 22nd of July 2024 | PairCorr |
Moving against Air Pink Sheet
| 0.75 | DAL | Delta Air Lines Financial Report 11th of July 2024 | PairCorr |
| 0.71 | JPHLF | Japan Post Holdings | PairCorr |
| 0.7 | KMI | Kinder Morgan Financial Report 17th of July 2024 | PairCorr |
Related Correlations Analysis
| 0.39 | 0.64 | -0.02 | 0.18 | 0.18 | EJTTF | ||
| 0.39 | 0.11 | 0.55 | 0.61 | 0.45 | NRSAF | ||
| 0.64 | 0.11 | -0.15 | -0.15 | -0.02 | ANZFF | ||
| -0.02 | 0.55 | -0.15 | 0.51 | 0.37 | AICAF | ||
| 0.18 | 0.61 | -0.15 | 0.51 | 0.25 | AFRAF | ||
| 0.18 | 0.45 | -0.02 | 0.37 | 0.25 | CHKIF | ||
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
Correlation Matchups
Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.High positive correlations
| High negative correlations
|
Risk-Adjusted Indicators
There is a big difference between Air Pink Sheet performing well and Air New Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Air New's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.| Mean Deviation | Jensen Alpha | Sortino Ratio | Treynor Ratio | Semi Deviation | Expected Shortfall | Potential Upside | Value @Risk | Maximum Drawdown | ||
|---|---|---|---|---|---|---|---|---|---|---|
| EJTTF | 0.60 | (0.15) | 0.00 | 0.54 | 0.00 | 0.00 | 20.48 | |||
| NRSAF | 1.89 | (0.33) | 0.00 | 0.35 | 0.00 | 3.75 | 25.94 | |||
| ANZFF | 1.86 | (0.16) | 0.00 | (0.18) | 0.00 | 5.71 | 20.25 | |||
| AICAF | 0.68 | (0.09) | 0.00 | (0.23) | 0.00 | 2.04 | 11.62 | |||
| AFRAF | 0.80 | (0.06) | 0.00 | (0.03) | 0.00 | 2.76 | 15.50 | |||
| CHKIF | 2.54 | 0.06 | 0.01 | 0.08 | 3.84 | 9.09 | 28.50 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Air New without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.Did you try this?
Run Equity Valuation Now
Equity ValuationCheck real value of public entities based on technical and fundamental data |
| All Next | Launch Module |
Air New Corporate Management
Elected by the shareholders, the Air New's board of directors comprises two types of representatives: Air New inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Air. The board's role is to monitor Air New's management team and ensure that shareholders' interests are well served. Air New's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Air New's outside directors are responsible for providing unbiased perspectives on the board's policies.
| Kim Cootes | Head Relations | Profile | |
| Jennifer Page | General Counsel and Company Secretary | Profile | |
| Leanne Geraghty | Chief Officer | Profile | |
| Gregory Foran | Chief Officer | Profile | |
| LLB BCom | Chief Officer | Profile | |
| Leila Peters | Gen Fin | Profile | |
| Nikki Dines | Chief Officer | Profile |
Already Invested in Air New Zealand?
The danger of trading Air New Zealand is mainly related to its market volatility and Company specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of Air New is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than Air New. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Air New Zealand is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Air New Zealand. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in bureau of economic analysis. You can also try the Portfolio Holdings module to check your current holdings and cash postion to detemine if your portfolio needs rebalancing.
Complementary Tools for Air Pink Sheet analysis
When running Air New's price analysis, check to measure Air New's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Air New is operating at the current time. Most of Air New's value examination focuses on studying past and present price action to predict the probability of Air New's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Air New's price. Additionally, you may evaluate how the addition of Air New to your portfolios can decrease your overall portfolio volatility.
| Portfolio Manager State of the art Portfolio Manager to monitor and improve performance of your invested capital | |
| Stocks Directory Find actively traded stocks across global markets | |
| Portfolio Dashboard Portfolio dashboard that provides centralized access to all your investments | |
| Transaction History View history of all your transactions and understand their impact on performance | |
| Correlation Analysis Reduce portfolio risk simply by holding instruments which are not perfectly correlated | |
| Performance Analysis Check effects of mean-variance optimization against your current asset allocation |