Correlation Between Mattel and CITIC Telecom
Can any of the company-specific risk be diversified away by investing in both Mattel and CITIC Telecom 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 Mattel and CITIC Telecom into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Mattel Inc and CITIC Telecom International, you can compare the effects of market volatilities on Mattel and CITIC Telecom 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 Mattel with a short position of CITIC Telecom. Check out your portfolio center. Please also check ongoing floating volatility patterns of Mattel and CITIC Telecom.
Diversification Opportunities for Mattel and CITIC Telecom
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Mattel and CITIC is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Mattel Inc and CITIC Telecom International in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CITIC Telecom Intern and Mattel 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 Mattel Inc are associated (or correlated) with CITIC Telecom. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CITIC Telecom Intern has no effect on the direction of Mattel i.e., Mattel and CITIC Telecom go up and down completely randomly.
Pair Corralation between Mattel and CITIC Telecom
If you would invest 1,823 in Mattel Inc on September 3, 2025 and sell it today you would earn a total of 273.00 from holding Mattel Inc or generate 14.98% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Mattel Inc vs. CITIC Telecom International
Performance |
| Timeline |
| Mattel Inc |
| CITIC Telecom Intern |
Mattel and CITIC Telecom Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Mattel and CITIC Telecom
The main advantage of trading using opposite Mattel and CITIC Telecom positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Mattel position performs unexpectedly, CITIC Telecom 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 CITIC Telecom will offset losses from the drop in CITIC Telecom's long position.| Mattel vs. CITIC Telecom International | Mattel vs. Rogers Communications | Mattel vs. TVC Telecom | Mattel vs. Singapore Telecommunications Limited |
| CITIC Telecom vs. Canon Electronics | CITIC Telecom vs. Borr Drilling | CITIC Telecom vs. Genesis Electronics Group | CITIC Telecom vs. Jaco Electronics |
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 Idea Analyzer module to analyze all characteristics, volatility and risk-adjusted return of Macroaxis ideas.
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