New Providence Correlations

NPACU Stock

10.30 0.02 0.19%

The current 90-days correlation between New Providence Acqui and YHN Acquisition I is 0.05 (i.e., Significant diversification). The correlation of New Providence 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.

New Providence Correlation With Market

Significant diversification

The correlation between New Providence Acquisition and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding New Providence Acquisition and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with New Stock

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in New Providence Acquisition. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

Moving together with New Stock

0.76	DTSQ	DT Cloud Star	Pair Corr
0.76	BACQR	Bleichroeder Acquisition	Pair Corr
0.62	WLAC	Willow Lane Acquisition	Pair Corr
0.8	GDSTW	Goldenstone Acquisition	Pair Corr
0.7	FERA	Fifth Era Acquisition	Pair Corr
0.61	FGMC	FG Merger II	Pair Corr
0.66	FACTU	FACT II Acquisition	Pair Corr
0.63	EQV	EQV Ventures Acquisition	Pair Corr
0.62	FVN	Future Vision II	Pair Corr

Moving against New Stock

0.42

FSHPR

Flag Ship Acquisition

Pair Corr

Related Correlations Analysis

	YHNAR	YHNAU	NOEMR	NOEMU	NOEMW	VCIC	DRDB
YHNAR		0.12	-0.38	0.52	0.0	0.23	-0.03	YHNAR
YHNAU	0.12		0.07	0.68	0.16	0.86	0.83	YHNAU
NOEMR	-0.38	0.07		-0.28	0.0	0.12	0.28	NOEMR
NOEMU	0.52	0.68	-0.28		0.18	0.71	0.43	NOEMU
NOEMW	0.0	0.16	0.0	0.18		0.29	0.19	NOEMW
VCIC	0.23	0.86	0.12	0.71	0.29		0.82	VCIC
DRDB	-0.03	0.83	0.28	0.43	0.19	0.82		DRDB
	YHNAR	YHNAU	NOEMR	NOEMU	NOEMW	VCIC	DRDB

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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

VCIC	+ 0.86	YHNAU
DRDB	+ 0.83	YHNAU
DRDB	+ 0.82	VCIC
VCIC	+ 0.71	NOEMU
NOEMU	+ 0.68	YHNAU
NOEMU	+ 0.52	YHNAR

High negative correlations

NOEMR	- 0.38	YHNAR
NOEMU	- 0.28	NOEMR
DRDB	- 0.03	YHNAR
NOEMW	- 0.0	NOEMR
NOEMW	- 0.0	YHNAR

Risk-Adjusted Indicators

There is a big difference between New Stock performing well and New Providence 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 New Providence'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
YHNAR	8.04	(0.27)	0.01	0.07	9.89	(15.06)	21.43	(20.00)	54.30
YHNAU	0.06	0.02	0.00	(2.29)	0.00	0.00	0.00	0.00	0.97
NOEMR	9.89	1.08	0.07	0.43	10.99	(19.68)	31.58	(20.00)	106.67
NOEMU	0.17	0.05	0.00	(0.87)	0.00	0.00	0.85	(0.19)	2.36
NOEMW	7.72	1.19	0.08	1.01	8.24	(17.26)	21.95	(18.00)	83.64
VCIC	0.10	0.03	(0.48)	(0.68)	0.00	(0.22)	0.29	(0.19)	1.56
DRDB	0.14	0.03	(0.56)	1.46	0.00	(0.20)	0.39	(0.29)	0.88

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