Correlation Between National Research and ICoreConnect Common

Can any of the company-specific risk be diversified away by investing in both National Research and ICoreConnect Common at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining National Research and ICoreConnect Common into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between National Research Corp and iCoreConnect Common stock, you can compare the effects of market volatilities on National Research and ICoreConnect Common 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 National Research with a short position of ICoreConnect Common. Check out your portfolio center. Please also check ongoing floating volatility patterns of National Research and ICoreConnect Common.

Diversification Opportunities for National Research and ICoreConnect Common

0.48

Correlation Coefficient

National Research  ICoreConnect Common

Very weak diversification

The 3 months correlation between National and ICoreConnect is 0.48. Overlapping area represents the amount of risk that can be diversified away by holding National Research Corp and iCoreConnect Common stock in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on iCoreConnect Common stock and National Research 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 National Research Corp are associated (or correlated) with ICoreConnect Common. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of iCoreConnect Common stock has no effect on the direction of National Research i.e., National Research and ICoreConnect Common go up and down completely randomly.

Pair Corralation between National Research and ICoreConnect Common

Considering the 90-day investment horizon National Research Corp is expected to generate 0.15 times more return on investment than ICoreConnect Common. However, National Research Corp is 6.88 times less risky than ICoreConnect Common. It trades about 0.01 of its potential returns per unit of risk. iCoreConnect Common stock is currently generating about -0.22 per unit of risk. If you would invest  1,269  in National Research Corp on May 5, 2025 and sell it today you would lose (11.00) from holding National Research Corp or give up 0.87% of portfolio value over 90 days.

Time Period	3 Months [change]
Direction	Moves Together
Strength	Weak
Accuracy	36.51%
Values	Daily Returns

National Research Corp  vs.  iCoreConnect Common stock

National Research Corp

Risk-Adjusted Performance

Very Weak

Over the last 90 days National Research Corp has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of rather sound basic indicators, National Research is not utilizing all of its potentials. The recent stock price tumult, may contribute to shorter-term losses for the shareholders.

iCoreConnect Common stock

Risk-Adjusted Performance

Very Weak

Over the last 90 days iCoreConnect Common stock has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of conflicting performance in the last few months, the Stock's fundamental indicators remain comparatively stable which may send shares a bit higher in September 2025. The newest uproar may also be a sign of mid-term up-swing for the firm private investors.

Pair Trading with National Research and ICoreConnect Common

The main advantage of trading using opposite National Research and ICoreConnect Common positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if National Research position performs unexpectedly, ICoreConnect Common can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in ICoreConnect Common will offset losses from the drop in ICoreConnect Common's long position.

The idea behind National Research Corp and iCoreConnect Common stock pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.

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Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Stock Tickers module to use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites.