Correlation Between Mattel and SOUTHERN
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By analyzing existing cross correlation between Mattel Inc and SOUTHERN PER CORP, you can compare the effects of market volatilities on Mattel and SOUTHERN 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 SOUTHERN. Check out your portfolio center. Please also check ongoing floating volatility patterns of Mattel and SOUTHERN.
Diversification Opportunities for Mattel and SOUTHERN
Significant diversification
The 3 months correlation between Mattel and SOUTHERN is 0.02. Overlapping area represents the amount of risk that can be diversified away by holding Mattel Inc and SOUTHERN PER CORP in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SOUTHERN PER P 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 SOUTHERN. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SOUTHERN PER P has no effect on the direction of Mattel i.e., Mattel and SOUTHERN go up and down completely randomly.
Pair Corralation between Mattel and SOUTHERN
Considering the 90-day investment horizon Mattel Inc is expected to generate 1.66 times more return on investment than SOUTHERN. However, Mattel is 1.66 times more volatile than SOUTHERN PER CORP. It trades about 0.02 of its potential returns per unit of risk. SOUTHERN PER CORP is currently generating about 0.0 per unit of risk. If you would invest 1,746 in Mattel Inc on September 3, 2024 and sell it today you would earn a total of 156.00 from holding Mattel Inc or generate 8.93% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 93.74% |
| Values | Daily Returns |
Mattel Inc vs. SOUTHERN PER CORP
Performance |
| Timeline |
| Mattel Inc |
| SOUTHERN PER P |
Mattel and SOUTHERN Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Mattel and SOUTHERN
The main advantage of trading using opposite Mattel and SOUTHERN positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Mattel position performs unexpectedly, SOUTHERN 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 SOUTHERN will offset losses from the drop in SOUTHERN's long position.| Mattel vs. Funko Inc | Mattel vs. Madison Square Garden | Mattel vs. Life Time Group | Mattel vs. Six Flags Entertainment |
| SOUTHERN vs. Griffon | SOUTHERN vs. Marine Products | SOUTHERN vs. Mattel Inc | SOUTHERN vs. Dream Finders Homes |
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 Content Syndication module to quickly integrate customizable finance content to your own investment portal.
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