NewHold Investment Correlations

NHIC Stock

USD 10.19 0.04 0.39%

The current 90-days correlation between NewHold Investment Corp and Drugs Made In is 0.1 (i.e., Average diversification). The correlation of NewHold Investment 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.

NewHold Investment Correlation With Market

Good diversification

The correlation between NewHold Investment Corp and DJI is -0.02 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding NewHold Investment Corp and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with NewHold Stock

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in NewHold Investment Corp. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

Moving together with NewHold Stock

0.61	DIST	Distoken Acquisition	Pair Corr
0.76	DMAA	Drugs Made In	Pair Corr
0.79	VACH	Voyager Acquisition Corp	Pair Corr
0.69	YHNAU	YHN Acquisition I	Pair Corr
0.63	NOEMU	CO2 Energy Transition	Pair Corr
0.74	VCIC	Vine Hill Capital	Pair Corr
0.66	DRDB	Roman DBDR Acquisition	Pair Corr
0.74	DTSQ	DT Cloud Star	Pair Corr
0.62	EMCGR	Embrace Change Acqui	Pair Corr
0.79	NPACU	New Providence Acqui	Pair Corr
0.84	EMCG	Embrace Change Acqui	Pair Corr
0.84	BACQR	Bleichroeder Acquisition	Pair Corr
0.77	BACQU	Bleichroeder Acquisition	Pair Corr
0.69	DISTR	Distoken Acquisition	Pair Corr
0.76	ANSCU	Agriculture Natural	Pair Corr
0.8	WLAC	Willow Lane Acquisition	Pair Corr
0.78	GDSTW	Goldenstone Acquisition	Pair Corr
0.91	FERA	Fifth Era Acquisition	Pair Corr
0.81	FGMC	FG Merger II	Pair Corr
0.7	BAYAR	Bayview Acquisition Corp	Pair Corr
0.74	BAYAU	Bayview Acquisition Corp	Pair Corr
0.78	AAM	AA Mission Acquisition	Pair Corr

Moving against NewHold Stock

0.54	ANSCW	Agriculture Natural	Pair Corr
0.34	GDSTU	Goldenstone Acquisition	Pair Corr

Related Correlations Analysis

	DIST	DMAA	VACH	DMYY	YHNAU	NOEMU	NOEMW	VCIC
DIST		0.74	0.72	-0.31	0.64	0.84	0.25	0.72	DIST
DMAA	0.74		0.96	0.24	0.88	0.82	0.31	0.93	DMAA
VACH	0.72	0.96		0.28	0.88	0.76	0.29	0.94	VACH
DMYY	-0.31	0.24	0.28		0.37	-0.15	-0.17	0.27	DMYY
YHNAU	0.64	0.88	0.88	0.37		0.7	0.13	0.85	YHNAU
NOEMU	0.84	0.82	0.76	-0.15	0.7		0.29	0.72	NOEMU
NOEMW	0.25	0.31	0.29	-0.17	0.13	0.29		0.31	NOEMW
VCIC	0.72	0.93	0.94	0.27	0.85	0.72	0.31		VCIC
	DIST	DMAA	VACH	DMYY	YHNAU	NOEMU	NOEMW	VCIC

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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

VACH	+ 0.96	DMAA
VCIC	+ 0.94	VACH
VCIC	+ 0.93	DMAA
YHNAU	+ 0.88	DMAA
YHNAU	+ 0.88	VACH
VCIC	+ 0.85	YHNAU

High negative correlations

DMYY	- 0.31	DIST
NOEMW	- 0.17	DMYY
NOEMU	- 0.15	DMYY

Risk-Adjusted Indicators

There is a big difference between NewHold Stock performing well and NewHold Investment 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 NewHold Investment'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
DIST	4.04	1.90	0.26	(2.42)	1.46	(13.67)	10.25	(3.41)	64.17
DMAA	0.09	0.03	(1.11)	(1.29)	0.00	(0.15)	0.20	(0.10)	0.69
VACH	0.08	0.02	(1.23)	(4.47)	0.00	(0.17)	0.19	(0.10)	0.68
DMYY	2.30	0.14	0.00	1.04	2.22	(2.88)	5.88	(3.67)	14.47
YHNAU	0.06	0.02	0.00	(1.86)	0.00	0.00	0.00	0.00	0.97
NOEMU	0.17	0.05	0.00	(0.77)	0.00	0.00	0.85	(0.19)	2.36
NOEMW	8.27	2.01	0.09	(0.51)	8.25	(19.67)	22.22	(18.00)	83.64
VCIC	0.10	0.03	(0.67)	(0.50)	0.00	(0.22)	0.29	(0.19)	1.56

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