Nova Vision Correlations

Summary

NOVVUDelisted Stock

USD 41.00 0.00 0.00%

The current 90-days correlation between Nova Vision Acquisition and Brunswick is -0.12 (i.e., Good diversification). The correlation of Nova Vision 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 correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Check out Correlation Analysis to better understand how to build diversified portfolios. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in real.

Moving together with Nova Stock

0.73	DSAQ	Direct Selling Acqui	Pair Corr
0.69	DYCQ	DT Cloud Acquisition	Pair Corr
0.63	NPABU	New Providence Acqui	Pair Corr
0.69	WAVS	Western Acquisition	Pair Corr
0.77	ESHA	ESH Acquisition Corp	Pair Corr
0.81	EVGR	Evergreen Corp	Pair Corr
0.64	DISTR	Distoken Acquisition	Pair Corr

Moving against Nova Stock

0.81	BRACU	Broad Capital Acquisition	Pair Corr
0.53	PFTAU	Portage Fintech Acqu	Pair Corr
0.43	BRACR	Broad Capital Acquisition	Pair Corr
0.38	TETEW	Technology Telecommunicatio	Pair Corr
0.34	EMCGU	Embrace Change Acqui	Pair Corr
0.62	IMAQR	International Media	Pair Corr
0.57	BRKHU	BurTech Acquisition Corp	Pair Corr
0.51	DISTW	Distoken Acquisition	Pair Corr
0.4	BRKHW	BurTech Acquisition Corp	Pair Corr

Related Correlations Analysis

	BC	ADNT	MGA	JBLU	STEP	ALK	CARS	GROW
BC		0.15	0.47	0.38	0.5	0.41	0.01	-0.17	BC
ADNT	0.15		-0.36	0.12	-0.5	-0.67	-0.39	0.51	ADNT
MGA	0.47	-0.36		0.17	0.79	0.73	0.62	-0.42	MGA
JBLU	0.38	0.12	0.17		0.42	0.38	-0.42	-0.54	JBLU
STEP	0.5	-0.5	0.79	0.42		0.91	0.33	-0.66	STEP
ALK	0.41	-0.67	0.73	0.38	0.91		0.35	-0.67	ALK
CARS	0.01	-0.39	0.62	-0.42	0.33	0.35		0.13	CARS
GROW	-0.17	0.51	-0.42	-0.54	-0.66	-0.67	0.13		GROW
	BC	ADNT	MGA	JBLU	STEP	ALK	CARS	GROW

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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

ALK	+ 0.91	STEP
STEP	+ 0.79	MGA
ALK	+ 0.73	MGA
CARS	+ 0.62	MGA
GROW	+ 0.51	ADNT
STEP	+ 0.5	BC

High negative correlations

GROW	- 0.67	ALK
ALK	- 0.67	ADNT
GROW	- 0.66	STEP
GROW	- 0.54	JBLU
STEP	- 0.5	ADNT
CARS	- 0.42	JBLU

Risk-Adjusted Indicators

There is a big difference between Nova Stock performing well and Nova Vision 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 Nova Vision'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
BC	1.57	(0.18)	(0.05)	0.02	1.93	(1.67)	3.84	(2.97)	11.27
ADNT	1.90	(0.39)	0.00	(0.14)	0.00	0.00	4.08	(4.22)	10.66
MGA	1.62	(0.02)	0.01	0.11	2.26	(1.52)	3.06	(3.95)	11.56
JBLU	3.03	0.17	0.06	0.22	4.15	(3.24)	7.53	(6.73)	31.32
STEP	1.47	0.12	0.12	0.20	1.58	(1.67)	2.82	(2.12)	16.32
ALK	1.55	0.46	0.31	0.55	0.95	(1.87)	4.71	(2.09)	9.94
CARS	1.57	0.02	0.04	0.15	1.63	(1.88)	4.66	(2.75)	9.11
GROW	0.90	(0.14)	0.00	(0.13)	0.00	0.00	2.03	(1.63)	6.57

Nova Vision Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Nova Vision stock to make a market-neutral strategy. Peer analysis of Nova Vision could also be used in its relative valuation, which is a method of valuing Nova Vision by comparing valuation metrics with similar companies.

Brunswick Adient PLC Magna International JetBlue Airways Corp Stepstone Group Alaska Air Group Cars Inc US Global Investors American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne CVS Health Corp

Risk & Return

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Still Interested in Nova Vision Acquisition?

Investing in delisted delisted stocks can be risky, as the stock is no longer traded on a public exchange and can therefore be difficult to sell. Delisting typically occurs when a company has failed to meet exchange requirements or has been acquired. Before investing, it's important to thoroughly research the company, including its financial health and prospects for the future, as well as the reasons for its delisting. Additionally, it may be difficult to find accurate and up-to-date information on the company and its stock.

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