Correlation Between Mannatech Incorporated and JABHOL
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By analyzing existing cross correlation between Mannatech Incorporated and JABHOL 22 23 NOV 30, you can compare the effects of market volatilities on Mannatech Incorporated and JABHOL 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 JABHOL. Check out your portfolio center. Please also check ongoing floating volatility patterns of Mannatech Incorporated and JABHOL.
Diversification Opportunities for Mannatech Incorporated and JABHOL
0.26 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Mannatech and JABHOL is 0.26. Overlapping area represents the amount of risk that can be diversified away by holding Mannatech Incorporated and JABHOL 22 23 NOV 30 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on JABHOL 22 23 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 JABHOL. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of JABHOL 22 23 has no effect on the direction of Mannatech Incorporated i.e., Mannatech Incorporated and JABHOL go up and down completely randomly.
Pair Corralation between Mannatech Incorporated and JABHOL
Given the investment horizon of 90 days Mannatech Incorporated is expected to generate 12.92 times more return on investment than JABHOL. However, Mannatech Incorporated is 12.92 times more volatile than JABHOL 22 23 NOV 30. It trades about 0.11 of its potential returns per unit of risk. JABHOL 22 23 NOV 30 is currently generating about 0.49 per unit of risk. If you would invest 782.00 in Mannatech Incorporated on September 1, 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 Together |
| Strength | Very Weak |
| Accuracy | 25.0% |
| Values | Daily Returns |
Mannatech Incorporated vs. JABHOL 22 23 NOV 30
Performance |
| Timeline |
| Mannatech Incorporated |
| JABHOL 22 23 |
Mannatech Incorporated and JABHOL Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Mannatech Incorporated and JABHOL
The main advantage of trading using opposite Mannatech Incorporated and JABHOL positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Mannatech Incorporated position performs unexpectedly, JABHOL 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 JABHOL will offset losses from the drop in JABHOL's long position.| Mannatech Incorporated vs. Edgewell Personal Care | Mannatech Incorporated vs. Inter Parfums | Mannatech Incorporated vs. Nu Skin Enterprises | Mannatech Incorporated vs. Helen of Troy |
| JABHOL vs. Mannatech Incorporated | JABHOL vs. Acco Brands | JABHOL vs. RBC Bearings Incorporated | JABHOL vs. Acme United |
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 Price Ceiling Movement module to calculate and plot Price Ceiling Movement for different equity instruments.
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