Correlation Between Matson Money and Elfun Government
Can any of the company-specific risk be diversified away by investing in both Matson Money and Elfun Government 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 Matson Money and Elfun Government into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Matson Money Equity and Elfun Government Money, you can compare the effects of market volatilities on Matson Money and Elfun Government 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 Matson Money with a short position of Elfun Government. Check out your portfolio center. Please also check ongoing floating volatility patterns of Matson Money and Elfun Government.
Diversification Opportunities for Matson Money and Elfun Government
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Matson and Elfun is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Matson Money Equity and Elfun Government Money in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Elfun Government Money and Matson Money 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 Matson Money Equity are associated (or correlated) with Elfun Government. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Elfun Government Money has no effect on the direction of Matson Money i.e., Matson Money and Elfun Government go up and down completely randomly.
Pair Corralation between Matson Money and Elfun Government
If you would invest 3,143 in Matson Money Equity on June 12, 2025 and sell it today you would earn a total of 268.00 from holding Matson Money Equity or generate 8.53% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 96.88% |
| Values | Daily Returns |
Matson Money Equity vs. Elfun Government Money
Performance |
| Timeline |
| Matson Money Equity |
| Elfun Government Money |
Matson Money and Elfun Government Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Matson Money and Elfun Government
The main advantage of trading using opposite Matson Money and Elfun Government positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Matson Money position performs unexpectedly, Elfun Government 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 Elfun Government will offset losses from the drop in Elfun Government's long position.| Matson Money vs. John Hancock Financial | Matson Money vs. Angel Oak Financial | Matson Money vs. Mesirow Financial Small | Matson Money vs. Gabelli Global Financial |
| Elfun Government vs. Ab Bond Inflation | Elfun Government vs. Transamerica Intermediate Muni | Elfun Government vs. Praxis Impact Bond | Elfun Government vs. Blrc Sgy Mnp |
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 Financial Widgets module to easily integrated Macroaxis content with over 30 different plug-and-play financial widgets.
Other Complementary Tools
| Global Markets Map Get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes | |
| Stocks Directory Find actively traded stocks across global markets | |
| Idea Breakdown Analyze constituents of all Macroaxis ideas. Macroaxis investment ideas are predefined, sector-focused investing themes | |
| Headlines Timeline Stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity | |
| USA ETFs Find actively traded Exchange Traded Funds (ETF) in USA |