Correlation Between Xiaobai Maimai and Mastercard
Can any of the company-specific risk be diversified away by investing in both Xiaobai Maimai and Mastercard 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 Xiaobai Maimai and Mastercard into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Xiaobai Maimai and Mastercard, you can compare the effects of market volatilities on Xiaobai Maimai and Mastercard 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 Xiaobai Maimai with a short position of Mastercard. Check out your portfolio center. Please also check ongoing floating volatility patterns of Xiaobai Maimai and Mastercard.
Diversification Opportunities for Xiaobai Maimai and Mastercard
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Xiaobai and Mastercard is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Xiaobai Maimai and Mastercard in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Mastercard and Xiaobai Maimai 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 Xiaobai Maimai are associated (or correlated) with Mastercard. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Mastercard has no effect on the direction of Xiaobai Maimai i.e., Xiaobai Maimai and Mastercard go up and down completely randomly.
Pair Corralation between Xiaobai Maimai and Mastercard
If you would invest 43,809 in Mastercard on January 24, 2024 and sell it today you would earn a total of 1,866 from holding Mastercard or generate 4.26% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Xiaobai Maimai vs. Mastercard
Performance |
| Timeline |
| Xiaobai Maimai |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| Mastercard |
Xiaobai Maimai and Mastercard Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Xiaobai Maimai and Mastercard
The main advantage of trading using opposite Xiaobai Maimai and Mastercard positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Xiaobai Maimai position performs unexpectedly, Mastercard 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 Mastercard will offset losses from the drop in Mastercard's long position.| Xiaobai Maimai vs. Datadog | Xiaobai Maimai vs. ServiceNow | Xiaobai Maimai vs. Playa Hotels Resorts | Xiaobai Maimai vs. Bill Com Holdings |
| Mastercard vs. American Express | Mastercard vs. Capital One Financial | Mastercard vs. Upstart HoldingsInc | Mastercard vs. Ally Financial |
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 Pair Correlation module to compare performance and examine fundamental relationship between any two equity instruments.
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