Correlation Between Mitsubishi Electric and Intelsat
Can any of the company-specific risk be diversified away by investing in both Mitsubishi Electric and Intelsat 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 Mitsubishi Electric and Intelsat into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Mitsubishi Electric and Intelsat SA, you can compare the effects of market volatilities on Mitsubishi Electric and Intelsat 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 Mitsubishi Electric with a short position of Intelsat. Check out your portfolio center. Please also check ongoing floating volatility patterns of Mitsubishi Electric and Intelsat.
Diversification Opportunities for Mitsubishi Electric and Intelsat
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Mitsubishi and Intelsat is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Mitsubishi Electric and Intelsat SA in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Intelsat SA and Mitsubishi Electric 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 Mitsubishi Electric are associated (or correlated) with Intelsat. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Intelsat SA has no effect on the direction of Mitsubishi Electric i.e., Mitsubishi Electric and Intelsat go up and down completely randomly.
Pair Corralation between Mitsubishi Electric and Intelsat
If you would invest 1,469 in Mitsubishi Electric on January 17, 2024 and sell it today you would earn a total of 203.00 from holding Mitsubishi Electric or generate 13.82% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Mitsubishi Electric vs. Intelsat SA
Performance |
| Timeline |
| Mitsubishi Electric |
| Intelsat SA |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Mitsubishi Electric and Intelsat Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Mitsubishi Electric and Intelsat
The main advantage of trading using opposite Mitsubishi Electric and Intelsat positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Mitsubishi Electric position performs unexpectedly, Intelsat 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 Intelsat will offset losses from the drop in Intelsat's long position.| Mitsubishi Electric vs. FREYR Battery SA | Mitsubishi Electric vs. nVent Electric PLC | Mitsubishi Electric vs. Hubbell | Mitsubishi Electric vs. Advanced Energy Industries |
| Intelsat vs. Barrick Gold Corp | Intelsat vs. Arrow Financial | Intelsat vs. Minerals Technologies | Intelsat vs. GMS Inc |
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 ETFs module to find actively traded Exchange Traded Funds (ETF) from around the world.
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