Correlation Between Rush Street and MAS Financial
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By analyzing existing cross correlation between Rush Street Interactive and MAS Financial Services, you can compare the effects of market volatilities on Rush Street and MAS Financial 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 Rush Street with a short position of MAS Financial. Check out your portfolio center. Please also check ongoing floating volatility patterns of Rush Street and MAS Financial.
Diversification Opportunities for Rush Street and MAS Financial
0.12 | Correlation Coefficient |
Average diversification
The 3 months correlation between Rush and MAS is 0.12. Overlapping area represents the amount of risk that can be diversified away by holding Rush Street Interactive and MAS Financial Services in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on MAS Financial Services and Rush Street 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 Rush Street Interactive are associated (or correlated) with MAS Financial. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of MAS Financial Services has no effect on the direction of Rush Street i.e., Rush Street and MAS Financial go up and down completely randomly.
Pair Corralation between Rush Street and MAS Financial
Considering the 90-day investment horizon Rush Street Interactive is expected to generate 1.86 times more return on investment than MAS Financial. However, Rush Street is 1.86 times more volatile than MAS Financial Services. It trades about 0.36 of its potential returns per unit of risk. MAS Financial Services is currently generating about -0.01 per unit of risk. If you would invest 1,040 in Rush Street Interactive on August 28, 2024 and sell it today you would earn a total of 340.00 from holding Rush Street Interactive or generate 32.69% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 95.45% |
| Values | Daily Returns |
Rush Street Interactive vs. MAS Financial Services
Performance |
| Timeline |
| Rush Street Interactive |
| MAS Financial Services |
Rush Street and MAS Financial Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Rush Street and MAS Financial
The main advantage of trading using opposite Rush Street and MAS Financial positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Rush Street position performs unexpectedly, MAS Financial 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 MAS Financial will offset losses from the drop in MAS Financial's long position.| Rush Street vs. Genius Sports | Rush Street vs. Gan | Rush Street vs. Ballys Corp | Rush Street vs. Hims Hers Health |
| MAS Financial vs. Reliance Industries Limited | MAS Financial vs. Life Insurance | MAS Financial vs. Indian Oil | MAS Financial vs. Oil Natural Gas |
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 Positions Ratings module to determine portfolio positions ratings based on digital equity recommendations. Macroaxis instant position ratings are based on combination of fundamental analysis and risk-adjusted market performance.
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