Asia Stocks Eye Gains After Wall Street Tech Boost Markets Wrap
-- Stocks in Asia are set to edge higher after a rally in some of the worlds largest technology companies lifted US benchmarks. Most Read from BloombergHo Chi Minh City Opens First Metro Line After Years of DelayThe Architects Who Built MiamiReviving a Little-Known Modernist Landmark in BuffaloNew Yorks Congestion Pricing Plan Still Faces Legal HurdlesNew York Citys Historic Preservation Movement Is Having a Midlife CrisisFutures pointed to small gains in Tokyo, Hong Kong and Sydn
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Novelis Potential Pair-trading
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 Novelis stock to make a market-neutral strategy. Peer analysis of Novelis could also be used in its relative valuation, which is a method of valuing Novelis by comparing valuation metrics with similar companies.
Peers
Novelis Related Equities
| CELH | Celsius Holdings | 5.88 | ||||
| SHOT | Safety Shot | 4.05 | ||||
| LUV | Southwest Airlines | 0.72 | ||||
| FLYX | FlyExclusive, | 0.32 | ||||
| ICAGY | International Consolidated | 0.27 | ||||
| ALK | Alaska Air | 0.50 |
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. You can also try the Portfolio Comparator module to compare the composition, asset allocations and performance of any two portfolios in your account.
Other Consideration for investing in Novelis Stock
If you are still planning to invest in Novelis check if it may still be traded through OTC markets such as Pink Sheets or OTC Bulletin Board. You may also purchase it directly from the company, but this is not always possible and may require contacting the company directly. Please note that delisted stocks are often considered to be more risky investments, as they are no longer subject to the same regulatory and reporting requirements as listed stocks. Therefore, it is essential to carefully research the Novelis' history and understand the potential risks before investing.
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