Correlation Between Rush Street and Marti Technologies
Can any of the company-specific risk be diversified away by investing in both Rush Street and Marti Technologies at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Rush Street and Marti Technologies into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Rush Street Interactive and Marti Technologies, you can compare the effects of market volatilities on Rush Street and Marti Technologies 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 Marti Technologies. Check out your portfolio center. Please also check ongoing floating volatility patterns of Rush Street and Marti Technologies.
Diversification Opportunities for Rush Street and Marti Technologies
-0.45 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Rush and Marti is -0.45. Overlapping area represents the amount of risk that can be diversified away by holding Rush Street Interactive and Marti Technologies in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Marti Technologies 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 Marti Technologies. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Marti Technologies has no effect on the direction of Rush Street i.e., Rush Street and Marti Technologies go up and down completely randomly.
Pair Corralation between Rush Street and Marti Technologies
Considering the 90-day investment horizon Rush Street Interactive is expected to generate 0.56 times more return on investment than Marti Technologies. However, Rush Street Interactive is 1.78 times less risky than Marti Technologies. It trades about 0.13 of its potential returns per unit of risk. Marti Technologies is currently generating about 0.05 per unit of risk. If you would invest 885.00 in Rush Street Interactive on August 28, 2024 and sell it today you would earn a total of 495.00 from holding Rush Street Interactive or generate 55.93% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Rush Street Interactive vs. Marti Technologies
Performance |
| Timeline |
| Rush Street Interactive |
| Marti Technologies |
Rush Street and Marti Technologies Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Rush Street and Marti Technologies
The main advantage of trading using opposite Rush Street and Marti Technologies positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Rush Street position performs unexpectedly, Marti Technologies 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 Marti Technologies will offset losses from the drop in Marti Technologies' long position.| Rush Street vs. Genius Sports | Rush Street vs. Gan | Rush Street vs. Ballys Corp | Rush Street vs. Hims Hers Health |
| Marti Technologies vs. Cabo Drilling Corp | Marti Technologies vs. Village Super Market | Marti Technologies vs. Seadrill Limited | Marti Technologies vs. Hf Foods Group |
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 USA ETFs module to find actively traded Exchange Traded Funds (ETF) in USA.
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