Correlation Between MAN INDUSTRIES and United Parcel

By analyzing existing cross correlation between MAN INDUSTRIES LTD and United Parcel Service, you can compare the effects of market volatilities on MAN INDUSTRIES and United Parcel 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 MAN INDUSTRIES with a short position of United Parcel. Check out your portfolio center. Please also check ongoing floating volatility patterns of MAN INDUSTRIES and United Parcel.

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Can any of the company-specific risk be diversified away by investing in both MAN INDUSTRIES and United Parcel 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 MAN INDUSTRIES and United Parcel into the same portfolio, which is an essential part of the fundamental portfolio management process.

Diversification Opportunities for MAN INDUSTRIES and United Parcel

0.0
  Correlation Coefficient
MAN INDUSTRIES LTD
United Parcel Service

Pay attention - limited upside

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

Pair Corralation between MAN INDUSTRIES and United Parcel

If you would invest  9,842  in United Parcel Service on June 9, 2020 and sell it today you would earn a total of  1,605  from holding United Parcel Service or generate 16.31% return on investment over 30 days.
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy0.0%
ValuesDaily Returns

MAN INDUSTRIES LTD  vs.  United Parcel Service Inc

 Performance (%) 
      Timeline 
MAN INDUSTRIES LTD 
00

MAN INDUSTRIES Risk-Adjusted Performance

Over the last 30 days MAN INDUSTRIES LTD has generated negative risk-adjusted returns adding no value to investors with long positions. In defiance of relatively invariable forward-looking signals, MAN INDUSTRIES is not utilizing all of its potentials. The current stock price agitation, may contribute to short term losses for the retail investors.
United Parcel Service 
88

United Parcel Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in United Parcel Service are ranked lower than 8 (%) of all global equities and portfolios over the last 30 days. In defiance of relatively conflicting forward-looking signals, United Parcel reported solid returns over the last few months and may actually be approaching a breakup point.

MAN INDUSTRIES and United Parcel Volatility Contrast

Check out your portfolio center. Please also try Volatility Analysis module to get historical volatility and risk analysis based on latest market data.


 
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