Correlation Between Mannatech Incorporated and WALMART
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By analyzing existing cross correlation between Mannatech Incorporated and WALMART INC 755, you can compare the effects of market volatilities on Mannatech Incorporated and WALMART 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 WALMART. Check out your portfolio center. Please also check ongoing floating volatility patterns of Mannatech Incorporated and WALMART.
Diversification Opportunities for Mannatech Incorporated and WALMART
-0.16 | Correlation Coefficient |
Good diversification
The 3 months correlation between Mannatech and WALMART is -0.16. Overlapping area represents the amount of risk that can be diversified away by holding Mannatech Incorporated and WALMART INC 755 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on WALMART INC 755 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 WALMART. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of WALMART INC 755 has no effect on the direction of Mannatech Incorporated i.e., Mannatech Incorporated and WALMART go up and down completely randomly.
Pair Corralation between Mannatech Incorporated and WALMART
Given the investment horizon of 90 days Mannatech Incorporated is expected to generate 94.38 times more return on investment than WALMART. However, Mannatech Incorporated is 94.38 times more volatile than WALMART INC 755. It trades about 0.05 of its potential returns per unit of risk. WALMART INC 755 is currently generating about 0.0 per unit of risk. If you would invest 1,231 in Mannatech Incorporated on August 31, 2024 and sell it today you would lose (381.00) from holding Mannatech Incorporated or give up 30.95% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 94.28% |
| Values | Daily Returns |
Mannatech Incorporated vs. WALMART INC 755
Performance |
| Timeline |
| Mannatech Incorporated |
| WALMART INC 755 |
Mannatech Incorporated and WALMART Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Mannatech Incorporated and WALMART
The main advantage of trading using opposite Mannatech Incorporated and WALMART positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Mannatech Incorporated position performs unexpectedly, WALMART 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 WALMART will offset losses from the drop in WALMART'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 |
| WALMART vs. Mannatech Incorporated | WALMART vs. Weyco Group | WALMART vs. Steven Madden | WALMART vs. Inter Parfums |
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 Technical Analysis module to check basic technical indicators and analysis based on most latest market data.
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