Correlation Between Mannatech Incorporated and INTNED
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By analyzing existing cross correlation between Mannatech Incorporated and INTNED 575, you can compare the effects of market volatilities on Mannatech Incorporated and INTNED 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 Mannatech Incorporated with a short position of INTNED. Check out your portfolio center. Please also check ongoing floating volatility patterns of Mannatech Incorporated and INTNED.
Diversification Opportunities for Mannatech Incorporated and INTNED
-0.32 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Mannatech and INTNED is -0.32. Overlapping area represents the amount of risk that can be diversified away by holding Mannatech Incorporated and INTNED 575 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on INTNED 575 and Mannatech Incorporated 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 Mannatech Incorporated are associated (or correlated) with INTNED. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of INTNED 575 has no effect on the direction of Mannatech Incorporated i.e., Mannatech Incorporated and INTNED go up and down completely randomly.
Pair Corralation between Mannatech Incorporated and INTNED
Given the investment horizon of 90 days Mannatech Incorporated is expected to generate 4.98 times more return on investment than INTNED. However, Mannatech Incorporated is 4.98 times more volatile than INTNED 575. It trades about 0.11 of its potential returns per unit of risk. INTNED 575 is currently generating about -0.31 per unit of risk. If you would invest 782.00 in Mannatech Incorporated on September 2, 2024 and sell it today you would earn a total of 68.00 from holding Mannatech Incorporated or generate 8.7% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 50.0% |
| Values | Daily Returns |
Mannatech Incorporated vs. INTNED 575
Performance |
| Timeline |
| Mannatech Incorporated |
| INTNED 575 |
Mannatech Incorporated and INTNED Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Mannatech Incorporated and INTNED
The main advantage of trading using opposite Mannatech Incorporated and INTNED positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Mannatech Incorporated position performs unexpectedly, INTNED 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 INTNED will offset losses from the drop in INTNED's long position.| Mannatech Incorporated vs. Seneca Foods Corp | Mannatech Incorporated vs. Central Garden Pet | Mannatech Incorporated vs. Central Garden Pet | Mannatech Incorporated vs. Lifeway Foods |
| INTNED vs. SEI Investments | INTNED vs. Cedar Realty Trust | INTNED vs. Morgan Stanley | INTNED vs. Alvarium Tiedemann Holdings |
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 Performance Analysis module to check effects of mean-variance optimization against your current asset allocation.
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