Correlation Between Altisource Portfolio and MMA Capital
Can any of the company-specific risk be diversified away by investing in both Altisource Portfolio and MMA Capital 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 Altisource Portfolio and MMA Capital into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Altisource Portfolio Solutions and MMA Capital Holdings, you can compare the effects of market volatilities on Altisource Portfolio and MMA Capital 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 Altisource Portfolio with a short position of MMA Capital. Check out your portfolio center. Please also check ongoing floating volatility patterns of Altisource Portfolio and MMA Capital.
Diversification Opportunities for Altisource Portfolio and MMA Capital
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Altisource and MMA is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Altisource Portfolio Solutions and MMA Capital Holdings in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on MMA Capital Holdings and Altisource Portfolio 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 Altisource Portfolio Solutions are associated (or correlated) with MMA Capital. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of MMA Capital Holdings has no effect on the direction of Altisource Portfolio i.e., Altisource Portfolio and MMA Capital go up and down completely randomly.
Pair Corralation between Altisource Portfolio and MMA Capital
If you would invest (100.00) in MMA Capital Holdings on December 30, 2023 and sell it today you would earn a total of 100.00 from holding MMA Capital Holdings or generate -100.0% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Flat |
Strength | Insignificant |
Accuracy | 0.0% |
Values | Daily Returns |
Altisource Portfolio Solutions vs. MMA Capital Holdings
Performance |
Timeline |
Altisource Portfolio |
MMA Capital Holdings |
Risk-Adjusted Performance
0 of 100
Low | High |
Very Weak
Altisource Portfolio and MMA Capital Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Altisource Portfolio and MMA Capital
The main advantage of trading using opposite Altisource Portfolio and MMA Capital positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Altisource Portfolio position performs unexpectedly, MMA Capital 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 MMA Capital will offset losses from the drop in MMA Capital's long position.Altisource Portfolio vs. DigitalBridge Group | Altisource Portfolio vs. DigitalBridge Group | Altisource Portfolio vs. DigitalBridge Group | Altisource Portfolio vs. New Concept Energy |
MMA Capital vs. PennantPark Floating Rate | MMA Capital vs. Copa Holdings SA | MMA Capital vs. Iris Acquisition Corp | MMA Capital vs. Nomura Holdings ADR |
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 Equity Search module to search for actively traded equities including funds and ETFs from over 30 global markets.
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