Correlation Between Manning Napier and MAST GLOBAL

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

Diversification Opportunities for Manning Napier and MAST GLOBAL

0.0
  Correlation Coefficient

Pay attention - limited upside

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

Pair Corralation between Manning Napier and MAST GLOBAL

If you would invest (100.00) in MAST GLOBAL BATTERY on December 29, 2023 and sell it today you would earn a total of  100.00  from holding MAST GLOBAL BATTERY or generate -100.0% return on investment over 90 days.
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy0.0%
ValuesDaily Returns

Manning Napier  vs.  MAST GLOBAL BATTERY

 Performance 
       Timeline  
Manning Napier 

Risk-Adjusted Performance

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Very Weak
Over the last 90 days Manning Napier has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of very healthy basic indicators, Manning Napier is not utilizing all of its potentials. The current stock price disarray, may contribute to short-term losses for the investors.
MAST GLOBAL BATTERY 

Risk-Adjusted Performance

0 of 100

 
Low
 
High
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 current stock price fuss, may contribute to near-short-term losses for the sophisticated investors.

Manning Napier and MAST GLOBAL Volatility Contrast

   Predicted Return Density   
       Returns  

Pair Trading with Manning Napier and MAST GLOBAL

The main advantage of trading using opposite Manning Napier and MAST GLOBAL positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Manning Napier position performs unexpectedly, MAST GLOBAL 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 MAST GLOBAL will offset losses from the drop in MAST GLOBAL's long position.
The idea behind Manning Napier and MAST GLOBAL BATTERY 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.
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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 Price Exposure Probability module to analyze equity upside and downside potential for a given time horizon across multiple markets.

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