Correlation Between Mondee Holdings and Thayer Ventures
Can any of the company-specific risk be diversified away by investing in both Mondee Holdings and Thayer Ventures 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 Mondee Holdings and Thayer Ventures into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Mondee Holdings and Thayer Ventures Acquisition, you can compare the effects of market volatilities on Mondee Holdings and Thayer Ventures 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 Mondee Holdings with a short position of Thayer Ventures. Check out your portfolio center. Please also check ongoing floating volatility patterns of Mondee Holdings and Thayer Ventures.
Diversification Opportunities for Mondee Holdings and Thayer Ventures
0.52 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Mondee and Thayer is 0.52. Overlapping area represents the amount of risk that can be diversified away by holding Mondee Holdings and Thayer Ventures Acquisition in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Thayer Ventures Acqu and Mondee Holdings 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 Mondee Holdings are associated (or correlated) with Thayer Ventures. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Thayer Ventures Acqu has no effect on the direction of Mondee Holdings i.e., Mondee Holdings and Thayer Ventures go up and down completely randomly.
Pair Corralation between Mondee Holdings and Thayer Ventures
Given the investment horizon of 90 days Mondee Holdings is expected to under-perform the Thayer Ventures. But the stock apears to be less risky and, when comparing its historical volatility, Mondee Holdings is 2.79 times less risky than Thayer Ventures. The stock trades about -0.19 of its potential returns per unit of risk. The Thayer Ventures Acquisition is currently generating about 0.1 of returns per unit of risk over similar time horizon. If you would invest 1.40 in Thayer Ventures Acquisition on August 30, 2024 and sell it today you would earn a total of 0.10 from holding Thayer Ventures Acquisition or generate 7.14% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Mondee Holdings vs. Thayer Ventures Acquisition
Performance |
| Timeline |
| Mondee Holdings |
| Thayer Ventures Acqu |
Mondee Holdings and Thayer Ventures Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Mondee Holdings and Thayer Ventures
The main advantage of trading using opposite Mondee Holdings and Thayer Ventures positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Mondee Holdings position performs unexpectedly, Thayer Ventures 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 Thayer Ventures will offset losses from the drop in Thayer Ventures' long position.| Mondee Holdings vs. Yatra Online | Mondee Holdings vs. Despegar Corp | Mondee Holdings vs. Lindblad Expeditions Holdings | Mondee Holdings vs. MakeMyTrip Limited |
| Thayer Ventures vs. Inspirato | Thayer Ventures vs. Anghami De | Thayer Ventures vs. Cepton Inc | Thayer Ventures vs. Cepton Inc |
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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