Correlation Between High Liner and Mattr Corp
Can any of the company-specific risk be diversified away by investing in both High Liner and Mattr Corp 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 High Liner and Mattr Corp into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between High Liner Foods and Mattr Corp, you can compare the effects of market volatilities on High Liner and Mattr Corp 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 High Liner with a short position of Mattr Corp. Check out your portfolio center. Please also check ongoing floating volatility patterns of High Liner and Mattr Corp.
Diversification Opportunities for High Liner and Mattr Corp
0.81 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between High and Mattr is 0.81. Overlapping area represents the amount of risk that can be diversified away by holding High Liner Foods and Mattr Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Mattr Corp and High Liner 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 High Liner Foods are associated (or correlated) with Mattr Corp. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Mattr Corp has no effect on the direction of High Liner i.e., High Liner and Mattr Corp go up and down completely randomly.
Pair Corralation between High Liner and Mattr Corp
Assuming the 90 days trading horizon High Liner Foods is expected to generate 0.56 times more return on investment than Mattr Corp. However, High Liner Foods is 1.78 times less risky than Mattr Corp. It trades about 0.05 of its potential returns per unit of risk. Mattr Corp is currently generating about -0.03 per unit of risk. If you would invest 995.00 in High Liner Foods on September 3, 2025 and sell it today you would earn a total of 343.00 from holding High Liner Foods or generate 34.47% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
High Liner Foods vs. Mattr Corp
Performance |
| Timeline |
| High Liner Foods |
| Mattr Corp |
High Liner and Mattr Corp Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with High Liner and Mattr Corp
The main advantage of trading using opposite High Liner and Mattr Corp positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if High Liner position performs unexpectedly, Mattr Corp 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 Mattr Corp will offset losses from the drop in Mattr Corp's long position.| High Liner vs. Mogotes Metals | High Liner vs. Ramp Metals | High Liner vs. CVW CleanTech | High Liner vs. Uniserve Communications Corp |
| Mattr Corp vs. IGM Financial | Mattr Corp vs. E L Financial Corp | Mattr Corp vs. Caribbean Utilities | Mattr Corp vs. E L Financial 3 |
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 Performance Analysis module to check effects of mean-variance optimization against your current asset allocation.
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