Correlation Between Marine Products and BERKSHIRE
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By analyzing existing cross correlation between Marine Products and BERKSHIRE HATHAWAY FIN, you can compare the effects of market volatilities on Marine Products and BERKSHIRE 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 Marine Products with a short position of BERKSHIRE. Check out your portfolio center. Please also check ongoing floating volatility patterns of Marine Products and BERKSHIRE.
Diversification Opportunities for Marine Products and BERKSHIRE
-0.32 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Marine and BERKSHIRE is -0.32. Overlapping area represents the amount of risk that can be diversified away by holding Marine Products and BERKSHIRE HATHAWAY FIN in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on BERKSHIRE HATHAWAY FIN and Marine Products 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 Marine Products are associated (or correlated) with BERKSHIRE. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BERKSHIRE HATHAWAY FIN has no effect on the direction of Marine Products i.e., Marine Products and BERKSHIRE go up and down completely randomly.
Pair Corralation between Marine Products and BERKSHIRE
Considering the 90-day investment horizon Marine Products is expected to generate 1.18 times more return on investment than BERKSHIRE. However, Marine Products is 1.18 times more volatile than BERKSHIRE HATHAWAY FIN. It trades about 0.22 of its potential returns per unit of risk. BERKSHIRE HATHAWAY FIN is currently generating about -0.03 per unit of risk. If you would invest 927.00 in Marine Products on August 26, 2024 and sell it today you would earn a total of 71.00 from holding Marine Products or generate 7.66% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 95.65% |
| Values | Daily Returns |
Marine Products vs. BERKSHIRE HATHAWAY FIN
Performance |
| Timeline |
| Marine Products |
| BERKSHIRE HATHAWAY FIN |
Marine Products and BERKSHIRE Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Marine Products and BERKSHIRE
The main advantage of trading using opposite Marine Products and BERKSHIRE positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Marine Products position performs unexpectedly, BERKSHIRE 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 BERKSHIRE will offset losses from the drop in BERKSHIRE's long position.| Marine Products vs. MCBC Holdings | Marine Products vs. Winnebago Industries | Marine Products vs. LCI Industries | Marine Products vs. Thor Industries |
| BERKSHIRE vs. Kaltura | BERKSHIRE vs. Getty Images Holdings | BERKSHIRE vs. Marine Products | BERKSHIRE vs. NetSol Technologies |
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 Portfolio Holdings module to check your current holdings and cash postion to detemine if your portfolio needs rebalancing.
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