Correlation Between Carlyle and Manning Napier
Can any of the company-specific risk be diversified away by investing in both Carlyle and Manning Napier 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 Carlyle and Manning Napier into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Carlyle Group and Manning Napier, you can compare the effects of market volatilities on Carlyle and Manning Napier 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 Carlyle with a short position of Manning Napier. Check out your portfolio center. Please also check ongoing floating volatility patterns of Carlyle and Manning Napier.
Diversification Opportunities for Carlyle and Manning Napier
-0.34 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Carlyle and Manning is -0.34. Overlapping area represents the amount of risk that can be diversified away by holding Carlyle Group and Manning Napier in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Manning Napier and Carlyle 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 Carlyle Group are associated (or correlated) with Manning Napier. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Manning Napier has no effect on the direction of Carlyle i.e., Carlyle and Manning Napier go up and down completely randomly.
Pair Corralation between Carlyle and Manning Napier
If you would invest 1,285 in Manning Napier on January 19, 2024 and sell it today you would earn a total of 0.00 from holding Manning Napier or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 4.55% |
| Values | Daily Returns |
Carlyle Group vs. Manning Napier
Performance |
| Timeline |
| Carlyle Group |
| Manning Napier |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Carlyle and Manning Napier Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Carlyle and Manning Napier
The main advantage of trading using opposite Carlyle and Manning Napier positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Carlyle position performs unexpectedly, Manning Napier 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 Manning Napier will offset losses from the drop in Manning Napier's long position.| Carlyle vs. Apollo Global Management | Carlyle vs. Blackstone Group | Carlyle vs. Brookfield Asset Management | Carlyle vs. Ares Management LP |
| Manning Napier vs. Dave Busters Entertainment | Manning Napier vs. Dine Brands Global | Manning Napier vs. Forsys Metals Corp | Manning Napier vs. Meli Hotels International |
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 My Watchlist Analysis module to analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like.
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