Correlation Between Manhattan Associates and ZoomInfo Technologies
Can any of the company-specific risk be diversified away by investing in both Manhattan Associates and ZoomInfo Technologies 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 Manhattan Associates and ZoomInfo Technologies into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Manhattan Associates and ZoomInfo Technologies, you can compare the effects of market volatilities on Manhattan Associates and ZoomInfo Technologies 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 Manhattan Associates with a short position of ZoomInfo Technologies. Check out your portfolio center. Please also check ongoing floating volatility patterns of Manhattan Associates and ZoomInfo Technologies.
Diversification Opportunities for Manhattan Associates and ZoomInfo Technologies
0.55 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Manhattan and ZoomInfo is 0.55. Overlapping area represents the amount of risk that can be diversified away by holding Manhattan Associates and ZoomInfo Technologies in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on ZoomInfo Technologies and Manhattan Associates 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 Manhattan Associates are associated (or correlated) with ZoomInfo Technologies. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ZoomInfo Technologies has no effect on the direction of Manhattan Associates i.e., Manhattan Associates and ZoomInfo Technologies go up and down completely randomly.
Pair Corralation between Manhattan Associates and ZoomInfo Technologies
Given the investment horizon of 90 days Manhattan Associates is expected to under-perform the ZoomInfo Technologies. But the stock apears to be less risky and, when comparing its historical volatility, Manhattan Associates is 1.46 times less risky than ZoomInfo Technologies. The stock trades about -0.13 of its potential returns per unit of risk. The ZoomInfo Technologies is currently generating about -0.01 of returns per unit of risk over similar time horizon. If you would invest 1,029 in ZoomInfo Technologies on September 1, 2025 and sell it today you would lose (37.00) from holding ZoomInfo Technologies or give up 3.6% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Manhattan Associates vs. ZoomInfo Technologies
Performance |
| Timeline |
| Manhattan Associates |
| ZoomInfo Technologies |
Manhattan Associates and ZoomInfo Technologies Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Manhattan Associates and ZoomInfo Technologies
The main advantage of trading using opposite Manhattan Associates and ZoomInfo Technologies positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Manhattan Associates position performs unexpectedly, ZoomInfo Technologies 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 ZoomInfo Technologies will offset losses from the drop in ZoomInfo Technologies' long position.| Manhattan Associates vs. Natural Health Farm | Manhattan Associates vs. Konoike Transport CoLtd | Manhattan Associates vs. Logansport Financial Corp | Manhattan Associates vs. JD Sports Fashion |
| ZoomInfo Technologies vs. North American Construction | ZoomInfo Technologies vs. Golden Energy Offshore | ZoomInfo Technologies vs. Australian Agricultural | ZoomInfo Technologies vs. LianDi Clean Technology |
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 Theme Ratings module to determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance.
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