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Correlation Between C MER and NOVA MEASURING

Analyzing existing cross correlation between C MER INDUSTRIES and NOVA MEASURING INS. You can compare the effects of market volatilities on C MER and NOVA MEASURING 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 C MER with a short position of NOVA MEASURING. Check out your portfolio center. Please also check ongoing floating volatility patterns of C MER and NOVA MEASURING.

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Diversification Opportunities for C MER and NOVA MEASURING

C MER INDUSTRIES diversification synergy
0.0
<div class='circular--portrait-small' style='background:#FF9E01;color: white;font-size:2.0em;padding-top:3px;;'>C</div>
<div class='circular--portrait-small' style='background:#FF9E01;color: white;font-size:1.1em;padding-top: 12px;;'>NOV</div>

Pay attention - limited upside

The 3 months correlation between CMER and NOVA is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding C MER INDUSTRIES and NOVA MEASURING INS in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on NOVA MEASURING INS and C MER is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on C MER INDUSTRIES are associated (or correlated) with NOVA MEASURING. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of NOVA MEASURING INS has no effect on the direction of C MER i.e. C MER and NOVA MEASURING go up and down completely randomly.

Pair Corralation between C MER and NOVA MEASURING

If you would invest  1,238,000  in NOVA MEASURING INS on January 22, 2020 and sell it today you would earn a total of  88,000  from holding NOVA MEASURING INS or generate 7.11% return on investment over 30 days.
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy2.63%
ValuesDaily Returns

C MER INDUSTRIES  vs.  NOVA MEASURING INS

 Performance (%) 
    
  Timeline 
C MER INDUSTRIES 
00

Risk-Adjusted Performance

Over the last 30 days C MER INDUSTRIES has generated negative risk-adjusted returns adding no value to investors with long positions. Despite somewhat strong basic indicators, C MER is not utilizing all of its potentials. The current stock price disturbance, may contribute to short term losses for the investors.
NOVA MEASURING INS 
66

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in NOVA MEASURING INS are ranked lower than 6 (%) of all global equities and portfolios over the last 30 days. Despite somewhat weak basic indicators, NOVA MEASURING sustained solid returns over the last few months and may actually be approaching a breakup point.

C MER and NOVA MEASURING Volatility Contrast

 Predicted Return Density 
    
  Returns 
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