Correlation Between MAST GLOBAL and Carlyle

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

Diversification Opportunities for MAST GLOBAL and Carlyle

0.0
  Correlation Coefficient

Pay attention - limited upside

The 3 months correlation between MAST and Carlyle is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding MAST GLOBAL BATTERY and Carlyle Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Carlyle Group and MAST GLOBAL 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 MAST GLOBAL BATTERY are associated (or correlated) with Carlyle. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Carlyle Group has no effect on the direction of MAST GLOBAL i.e., MAST GLOBAL and Carlyle go up and down completely randomly.

Pair Corralation between MAST GLOBAL and Carlyle

If you would invest  4,503  in Carlyle Group on December 30, 2023 and sell it today you would earn a total of  188.00  from holding Carlyle Group or generate 4.17% return on investment over 90 days.
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy0.0%
ValuesDaily Returns

MAST GLOBAL BATTERY  vs.  Carlyle Group

 Performance 
       Timeline  
MAST GLOBAL BATTERY 

Risk-Adjusted Performance

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Very Weak
Over the last 90 days MAST GLOBAL BATTERY has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of fairly stable basic indicators, MAST GLOBAL is not utilizing all of its potentials. The latest stock price fuss, may contribute to near-short-term losses for the sophisticated investors.
Carlyle Group 

Risk-Adjusted Performance

12 of 100

 
Low
 
High
OK
Compared to the overall equity markets, risk-adjusted returns on investments in Carlyle Group are ranked lower than 12 (%) of all global equities and portfolios over the last 90 days. Despite nearly conflicting technical and fundamental indicators, Carlyle reported solid returns over the last few months and may actually be approaching a breakup point.

MAST GLOBAL and Carlyle Volatility Contrast

   Predicted Return Density   
       Returns  

Pair Trading with MAST GLOBAL and Carlyle

The main advantage of trading using opposite MAST GLOBAL and Carlyle positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if MAST GLOBAL position performs unexpectedly, Carlyle 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 Carlyle will offset losses from the drop in Carlyle's long position.
The idea behind MAST GLOBAL BATTERY and Carlyle Group 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.
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 Idea Optimizer module to use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio .

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