Correlation Between Mattel and ASSURED
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By analyzing existing cross correlation between Mattel Inc and ASSURED GTY HLDGS, you can compare the effects of market volatilities on Mattel and ASSURED 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 Mattel with a short position of ASSURED. Check out your portfolio center. Please also check ongoing floating volatility patterns of Mattel and ASSURED.
Diversification Opportunities for Mattel and ASSURED
Good diversification
The 3 months correlation between Mattel and ASSURED is -0.08. Overlapping area represents the amount of risk that can be diversified away by holding Mattel Inc and ASSURED GTY HLDGS in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on ASSURED GTY HLDGS and Mattel 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 Mattel Inc are associated (or correlated) with ASSURED. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ASSURED GTY HLDGS has no effect on the direction of Mattel i.e., Mattel and ASSURED go up and down completely randomly.
Pair Corralation between Mattel and ASSURED
Considering the 90-day investment horizon Mattel Inc is expected to generate 2.03 times more return on investment than ASSURED. However, Mattel is 2.03 times more volatile than ASSURED GTY HLDGS. It trades about 0.0 of its potential returns per unit of risk. ASSURED GTY HLDGS is currently generating about -0.02 per unit of risk. If you would invest 1,927 in Mattel Inc on August 28, 2024 and sell it today you would lose (20.00) from holding Mattel Inc or give up 1.04% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 96.83% |
| Values | Daily Returns |
Mattel Inc vs. ASSURED GTY HLDGS
Performance |
| Timeline |
| Mattel Inc |
| ASSURED GTY HLDGS |
Mattel and ASSURED Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Mattel and ASSURED
The main advantage of trading using opposite Mattel and ASSURED positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Mattel position performs unexpectedly, ASSURED 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 ASSURED will offset losses from the drop in ASSURED's long position.| Mattel vs. Funko Inc | Mattel vs. JAKKS Pacific | Mattel vs. Madison Square Garden | Mattel vs. Life Time Group |
| ASSURED vs. Playtika Holding Corp | ASSURED vs. Jabil Circuit | ASSURED vs. Arrow Electronics | ASSURED vs. Nordic Semiconductor ASA |
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 ETF Categories module to list of ETF categories grouped based on various criteria, such as the investment strategy or type of investments.
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