Correlation Between MGIC Investment and 58013MEU4
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By analyzing existing cross correlation between MGIC Investment Corp and MCDONALDS P MEDIUM, you can compare the effects of market volatilities on MGIC Investment and 58013MEU4 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 MGIC Investment with a short position of 58013MEU4. Check out your portfolio center. Please also check ongoing floating volatility patterns of MGIC Investment and 58013MEU4.
Diversification Opportunities for MGIC Investment and 58013MEU4
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between MGIC and 58013MEU4 is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding MGIC Investment Corp and MCDONALDS P MEDIUM in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on MCDONALDS P MEDIUM and MGIC Investment 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 MGIC Investment Corp are associated (or correlated) with 58013MEU4. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of MCDONALDS P MEDIUM has no effect on the direction of MGIC Investment i.e., MGIC Investment and 58013MEU4 go up and down completely randomly.
Pair Corralation between MGIC Investment and 58013MEU4
If you would invest 0.00 in MCDONALDS P MEDIUM on October 22, 2024 and sell it today you would earn a total of 0.00 from holding MCDONALDS P MEDIUM or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 2.5% |
| Values | Daily Returns |
MGIC Investment Corp vs. MCDONALDS P MEDIUM
Performance |
| Timeline |
| MGIC Investment Corp |
| MCDONALDS P MEDIUM |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
MGIC Investment and 58013MEU4 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with MGIC Investment and 58013MEU4
The main advantage of trading using opposite MGIC Investment and 58013MEU4 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if MGIC Investment position performs unexpectedly, 58013MEU4 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 58013MEU4 will offset losses from the drop in 58013MEU4's long position.| MGIC Investment vs. MBIA Inc | MGIC Investment vs. NMI Holdings | MGIC Investment vs. Essent Group | MGIC Investment vs. Assured Guaranty |
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 Aroon Oscillator module to analyze current equity momentum using Aroon Oscillator and other momentum ratios.
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