Onyx Acquisition Correlations
| ONYXUDelisted Stock | USD 11.31 0.00 0.00% |
The current 90-days correlation between Onyx Acquisition and National CineMedia is 0.15 (i.e., Average diversification). The correlation of Onyx Acquisition 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.
Onyx Acquisition Correlation With Market
Significant diversification
The correlation between Onyx Acquisition Co and DJI is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Onyx Acquisition Co and DJI in the same portfolio, assuming nothing else is changed.
Onyx |
Moving against Onyx Stock
| 0.56 | EMCGU | Embrace Change Acqui | PairCorr |
| 0.48 | NOVVU | Nova Vision Acquisition | PairCorr |
| 0.44 | PFTAW | Portage Fintech Acqu | PairCorr |
| 0.43 | VMCA | Valuence Merger Corp | PairCorr |
| 0.38 | DYCQ | DT Cloud Acquisition | PairCorr |
| 0.32 | PWUPW | PowerUp Acquisition Corp | PairCorr |
| 0.49 | ANSCW | Agriculture Natural | PairCorr |
| 0.48 | BAYAR | Bayview Acquisition Corp | PairCorr |
| 0.44 | EVGR | Evergreen Corp | PairCorr |
| 0.42 | DISTR | Distoken Acquisition | PairCorr |
| 0.41 | ESHA | ESH Acquisition Corp | PairCorr |
| 0.4 | NPABU | New Providence Acqui | PairCorr |
| 0.39 | WAVSU | Western Acquisition | PairCorr |
| 0.38 | OCAXU | OCA Acquisition Corp | PairCorr |
Related Correlations Analysis
| 0.05 | -0.41 | 0.0 | 0.02 | 0.16 | 0.24 | NCMI | ||
| 0.05 | 0.52 | 0.0 | 0.17 | 0.35 | -0.14 | PINS | ||
| -0.41 | 0.52 | 0.0 | 0.3 | 0.11 | -0.53 | SPHR | ||
| 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | SPMMF | ||
| 0.02 | 0.17 | 0.3 | 0.0 | 0.16 | -0.54 | INBX | ||
| 0.16 | 0.35 | 0.11 | 0.0 | 0.16 | 0.01 | LPCN | ||
| 0.24 | -0.14 | -0.53 | 0.0 | -0.54 | 0.01 | RDCM | ||
| 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
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Risk-Adjusted Indicators
There is a big difference between Onyx Stock performing well and Onyx Acquisition 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 Onyx Acquisition'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| NCMI | 1.58 | 0.18 | 0.01 | (0.20) | 2.31 | 3.50 | 14.85 | |||
| PINS | 1.72 | 0.02 | 0.00 | 0.11 | 3.26 | 3.06 | 17.91 | |||
| SPHR | 2.14 | (0.22) | 0.00 | (0.09) | 0.00 | 3.79 | 14.27 | |||
| SPMMF | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| INBX | 2.16 | (0.11) | 0.00 | (0.01) | 0.00 | 4.92 | 16.07 | |||
| LPCN | 3.53 | 0.40 | 0.06 | 2.11 | 4.69 | 9.75 | 27.84 | |||
| RDCM | 2.51 | 0.31 | 0.07 | 0.56 | 3.62 | 5.40 | 21.11 |
Onyx Acquisition 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 Onyx Acquisition stock to make a market-neutral strategy. Peer analysis of Onyx Acquisition could also be used in its relative valuation, which is a method of valuing Onyx Acquisition by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
Onyx Acquisition Corporate Management
| Serena Rakhlin | General Counsel | Profile | |
| Michael Stern | Chairman CEO | Profile | |
| Matthew Vodola | Chief Officer | Profile | |
| Benjamin Lerner | President | Profile |
Still Interested in Onyx Acquisition Co?
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.