Correlation Between MASSIN and Sealed Air
Specify exactly 2 symbols:
By analyzing existing cross correlation between MASSIN 3067 01 APR 52 and Sealed Air, you can compare the effects of market volatilities on MASSIN and Sealed Air 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 MASSIN with a short position of Sealed Air. Check out your portfolio center. Please also check ongoing floating volatility patterns of MASSIN and Sealed Air.
Diversification Opportunities for MASSIN and Sealed Air
-0.04 | Correlation Coefficient |
Good diversification
The 3 months correlation between MASSIN and Sealed is -0.04. Overlapping area represents the amount of risk that can be diversified away by holding MASSIN 3067 01 APR 52 and Sealed Air in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Sealed Air and MASSIN 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 MASSIN 3067 01 APR 52 are associated (or correlated) with Sealed Air. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Sealed Air has no effect on the direction of MASSIN i.e., MASSIN and Sealed Air go up and down completely randomly.
Pair Corralation between MASSIN and Sealed Air
Assuming the 90 days trading horizon MASSIN 3067 01 APR 52 is expected to under-perform the Sealed Air. In addition to that, MASSIN is 2.63 times more volatile than Sealed Air. It trades about -0.01 of its total potential returns per unit of risk. Sealed Air is currently generating about 0.12 per unit of volatility. If you would invest 3,282 in Sealed Air on September 12, 2024 and sell it today you would earn a total of 402.00 from holding Sealed Air or generate 12.25% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 52.38% |
| Values | Daily Returns |
MASSIN 3067 01 APR 52 vs. Sealed Air
Performance |
| Timeline |
| MASSIN 3067 01 |
| Sealed Air |
MASSIN and Sealed Air Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with MASSIN and Sealed Air
The main advantage of trading using opposite MASSIN and Sealed Air positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if MASSIN position performs unexpectedly, Sealed Air 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 Sealed Air will offset losses from the drop in Sealed Air's long position.| MASSIN vs. Perseus Mining Limited | MASSIN vs. Highway Holdings Limited | MASSIN vs. Getty Copper | MASSIN vs. The Mosaic |
| Sealed Air vs. Avery Dennison Corp | Sealed Air vs. International Paper | Sealed Air vs. Sonoco Products | Sealed Air vs. Packaging Corp of |
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 Top Crypto Exchanges module to search and analyze digital assets across top global cryptocurrency exchanges.
Other Complementary Tools
| Analyst Advice Analyst recommendations and target price estimates broken down by several categories | |
| Portfolio Analyzer Portfolio analysis module that provides access to portfolio diagnostics and optimization engine | |
| Companies Directory Evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals | |
| USA ETFs Find actively traded Exchange Traded Funds (ETF) in USA | |
| Options Analysis Analyze and evaluate options and option chains as a potential hedge for your portfolios |