Correlation Between Sweetgreen and MOSAIC

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Can any of the company-specific risk be diversified away by investing in both Sweetgreen and MOSAIC 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 Sweetgreen and MOSAIC into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Sweetgreen and MOSAIC NEW 405, you can compare the effects of market volatilities on Sweetgreen and MOSAIC 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 Sweetgreen with a short position of MOSAIC. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sweetgreen and MOSAIC.

Diversification Opportunities for Sweetgreen and MOSAIC

-0.36
  Correlation Coefficient

Very good diversification

The 3 months correlation between Sweetgreen and MOSAIC is -0.36. Overlapping area represents the amount of risk that can be diversified away by holding Sweetgreen and MOSAIC NEW 405 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on MOSAIC NEW 405 and Sweetgreen 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 Sweetgreen are associated (or correlated) with MOSAIC. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of MOSAIC NEW 405 has no effect on the direction of Sweetgreen i.e., Sweetgreen and MOSAIC go up and down completely randomly.

Pair Corralation between Sweetgreen and MOSAIC

Allowing for the 90-day total investment horizon Sweetgreen is expected to under-perform the MOSAIC. In addition to that, Sweetgreen is 11.8 times more volatile than MOSAIC NEW 405. It trades about -0.21 of its total potential returns per unit of risk. MOSAIC NEW 405 is currently generating about -0.12 per unit of volatility. If you would invest  9,863  in MOSAIC NEW 405 on January 19, 2025 and sell it today you would lose (120.00) from holding MOSAIC NEW 405 or give up 1.22% of portfolio value over 90 days.
Time Period3 Months [change]
DirectionMoves Against 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Sweetgreen  vs.  MOSAIC NEW 405

 Performance 
       Timeline  
Sweetgreen 

Risk-Adjusted Performance

Very Weak

 
Weak
 
Strong
Over the last 90 days Sweetgreen has generated negative risk-adjusted returns adding no value to investors with long positions. Despite unsteady performance in the last few months, the Stock's technical and fundamental indicators remain nearly stable which may send shares a bit higher in May 2025. The current disturbance may also be a sign of long-run up-swing for the company stockholders.
MOSAIC NEW 405 

Risk-Adjusted Performance

Very Weak

 
Weak
 
Strong
Over the last 90 days MOSAIC NEW 405 has generated negative risk-adjusted returns adding no value to investors with long positions. Despite somewhat strong basic indicators, MOSAIC is not utilizing all of its potentials. The current stock price disturbance, may contribute to short-term losses for the investors.

Sweetgreen and MOSAIC Volatility Contrast

   Predicted Return Density   
       Returns  

Pair Trading with Sweetgreen and MOSAIC

The main advantage of trading using opposite Sweetgreen and MOSAIC positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sweetgreen position performs unexpectedly, MOSAIC 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 MOSAIC will offset losses from the drop in MOSAIC's long position.
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The idea behind Sweetgreen and MOSAIC NEW 405 pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.
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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 Idea Breakdown module to analyze constituents of all Macroaxis ideas. Macroaxis investment ideas are predefined, sector-focused investing themes.

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