Correlation Between DataSolution and Maniker FG
Can any of the company-specific risk be diversified away by investing in both DataSolution and Maniker FG 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 DataSolution and Maniker FG into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between DataSolution and Maniker FG Co, you can compare the effects of market volatilities on DataSolution and Maniker FG 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 DataSolution with a short position of Maniker FG. Check out your portfolio center. Please also check ongoing floating volatility patterns of DataSolution and Maniker FG.
Diversification Opportunities for DataSolution and Maniker FG
-0.76 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between DataSolution and Maniker is -0.76. Overlapping area represents the amount of risk that can be diversified away by holding DataSolution and Maniker FG Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Maniker FG and DataSolution 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 DataSolution are associated (or correlated) with Maniker FG. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Maniker FG has no effect on the direction of DataSolution i.e., DataSolution and Maniker FG go up and down completely randomly.
Pair Corralation between DataSolution and Maniker FG
Assuming the 90 days trading horizon DataSolution is expected to generate 2.31 times more return on investment than Maniker FG. However, DataSolution is 2.31 times more volatile than Maniker FG Co. It trades about 0.07 of its potential returns per unit of risk. Maniker FG Co is currently generating about 0.1 per unit of risk. If you would invest 435,000 in DataSolution on January 27, 2025 and sell it today you would earn a total of 20,500 from holding DataSolution or generate 4.71% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
DataSolution vs. Maniker FG Co
Performance |
| Timeline |
| DataSolution |
| Maniker FG |
DataSolution and Maniker FG Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with DataSolution and Maniker FG
The main advantage of trading using opposite DataSolution and Maniker FG positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if DataSolution position performs unexpectedly, Maniker FG 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 Maniker FG will offset losses from the drop in Maniker FG's long position.| DataSolution vs. Samsung Electronics Co | DataSolution vs. Samsung Electronics Co | DataSolution vs. LG Energy Solution | DataSolution vs. SK Hynix |
| Maniker FG vs. Alton Sports CoLtd | Maniker FG vs. Kukdong Oil Chemicals | Maniker FG vs. Bohae Brewery | Maniker FG vs. Home Center Holdings |
Check out your portfolio center.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 Theme Ratings module to determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance.
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