Correlation Between Marathon Digital and Fatfish Group
Can any of the company-specific risk be diversified away by investing in both Marathon Digital and Fatfish Group 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 Marathon Digital and Fatfish Group into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Marathon Digital Holdings and Fatfish Group Limited, you can compare the effects of market volatilities on Marathon Digital and Fatfish Group 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 Marathon Digital with a short position of Fatfish Group. Check out your portfolio center. Please also check ongoing floating volatility patterns of Marathon Digital and Fatfish Group.
Diversification Opportunities for Marathon Digital and Fatfish Group
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Marathon and Fatfish is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Marathon Digital Holdings and Fatfish Group Limited in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Fatfish Group Limited and Marathon Digital 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 Marathon Digital Holdings are associated (or correlated) with Fatfish Group. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Fatfish Group Limited has no effect on the direction of Marathon Digital i.e., Marathon Digital and Fatfish Group go up and down completely randomly.
Pair Corralation between Marathon Digital and Fatfish Group
If you would invest 1,550 in Marathon Digital Holdings on September 3, 2024 and sell it today you would earn a total of 1,192 from holding Marathon Digital Holdings or generate 76.9% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 95.24% |
| Values | Daily Returns |
Marathon Digital Holdings vs. Fatfish Group Limited
Performance |
| Timeline |
| Marathon Digital Holdings |
| Fatfish Group Limited |
Marathon Digital and Fatfish Group Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Marathon Digital and Fatfish Group
The main advantage of trading using opposite Marathon Digital and Fatfish Group positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Marathon Digital position performs unexpectedly, Fatfish Group 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 Fatfish Group will offset losses from the drop in Fatfish Group's long position.| Marathon Digital vs. Hut 8 Corp | Marathon Digital vs. CleanSpark | Marathon Digital vs. Bit Digital | Marathon Digital vs. Bitfarms |
| Fatfish Group vs. Morgan Stanley | Fatfish Group vs. Goldman Sachs Group | Fatfish Group vs. Riot Blockchain | Fatfish Group vs. Marathon Digital 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 Bollinger Bands module to use Bollinger Bands indicator to analyze target price for a given investing horizon.
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