Correlation Between Mawson Infrastructure and Clean Energy
Can any of the company-specific risk be diversified away by investing in both Mawson Infrastructure and Clean Energy 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 Mawson Infrastructure and Clean Energy into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Mawson Infrastructure Group and Clean Energy Pathway, you can compare the effects of market volatilities on Mawson Infrastructure and Clean Energy 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 Mawson Infrastructure with a short position of Clean Energy. Check out your portfolio center. Please also check ongoing floating volatility patterns of Mawson Infrastructure and Clean Energy.
Diversification Opportunities for Mawson Infrastructure and Clean Energy
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Mawson and Clean is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Mawson Infrastructure Group and Clean Energy Pathway in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Clean Energy Pathway and Mawson Infrastructure 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 Mawson Infrastructure Group are associated (or correlated) with Clean Energy. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Clean Energy Pathway has no effect on the direction of Mawson Infrastructure i.e., Mawson Infrastructure and Clean Energy go up and down completely randomly.
Pair Corralation between Mawson Infrastructure and Clean Energy
If you would invest 145.00 in Mawson Infrastructure Group on November 2, 2024 and sell it today you would lose (70.00) from holding Mawson Infrastructure Group or give up 48.28% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 1.67% |
| Values | Daily Returns |
Mawson Infrastructure Group vs. Clean Energy Pathway
Performance |
| Timeline |
| Mawson Infrastructure |
| Clean Energy Pathway |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Mawson Infrastructure and Clean Energy Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Mawson Infrastructure and Clean Energy
The main advantage of trading using opposite Mawson Infrastructure and Clean Energy positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Mawson Infrastructure position performs unexpectedly, Clean Energy 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 Clean Energy will offset losses from the drop in Clean Energy's long position.| Mawson Infrastructure vs. Terawulf | Mawson Infrastructure vs. Iris Energy | Mawson Infrastructure vs. Stronghold Digital Mining | Mawson Infrastructure vs. Argo Blockchain PLC |
| Clean Energy vs. AT S Austria | Clean Energy vs. Alps Electric Co | Clean Energy vs. American Aires | Clean Energy vs. LGL Group |
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 Global Correlations module to find global opportunities by holding instruments from different markets.
Other Complementary Tools
| Equity Search Search for actively traded equities including funds and ETFs from over 30 global markets | |
| Volatility Analysis Get historical volatility and risk analysis based on latest market data | |
| Cryptocurrency Center Build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency | |
| Equity Forecasting Use basic forecasting models to generate price predictions and determine price momentum | |
| Price Ceiling Movement Calculate and plot Price Ceiling Movement for different equity instruments |