Correlation Between Mativ Holdings and Jutal Offshore
Can any of the company-specific risk be diversified away by investing in both Mativ Holdings and Jutal Offshore 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 Mativ Holdings and Jutal Offshore into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Mativ Holdings and Jutal Offshore Oil, you can compare the effects of market volatilities on Mativ Holdings and Jutal Offshore 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 Mativ Holdings with a short position of Jutal Offshore. Check out your portfolio center. Please also check ongoing floating volatility patterns of Mativ Holdings and Jutal Offshore.
Diversification Opportunities for Mativ Holdings and Jutal Offshore
0.52 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Mativ and Jutal is 0.52. Overlapping area represents the amount of risk that can be diversified away by holding Mativ Holdings and Jutal Offshore Oil in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Jutal Offshore Oil and Mativ Holdings 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 Mativ Holdings are associated (or correlated) with Jutal Offshore. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Jutal Offshore Oil has no effect on the direction of Mativ Holdings i.e., Mativ Holdings and Jutal Offshore go up and down completely randomly.
Pair Corralation between Mativ Holdings and Jutal Offshore
Given the investment horizon of 90 days Mativ Holdings is expected to generate 1.7 times more return on investment than Jutal Offshore. However, Mativ Holdings is 1.7 times more volatile than Jutal Offshore Oil. It trades about 0.22 of its potential returns per unit of risk. Jutal Offshore Oil is currently generating about 0.1 per unit of risk. If you would invest 463.00 in Mativ Holdings on April 5, 2025 and sell it today you would earn a total of 295.00 from holding Mativ Holdings or generate 63.71% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 96.83% |
| Values | Daily Returns |
Mativ Holdings vs. Jutal Offshore Oil
Performance |
| Timeline |
| Mativ Holdings |
| Jutal Offshore Oil |
Mativ Holdings and Jutal Offshore Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Mativ Holdings and Jutal Offshore
The main advantage of trading using opposite Mativ Holdings and Jutal Offshore positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Mativ Holdings position performs unexpectedly, Jutal Offshore 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 Jutal Offshore will offset losses from the drop in Jutal Offshore's long position.| Mativ Holdings vs. Lindblad Expeditions Holdings | Mativ Holdings vs. Pentair PLC | Mativ Holdings vs. Air Lease | Mativ Holdings vs. 51Talk Online Education |
| Jutal Offshore vs. Fiserv, | Jutal Offshore vs. Schlumberger NV | Jutal Offshore vs. Baker Hughes Co | Jutal Offshore vs. Tenaris SA |
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 ETFs module to find actively traded Exchange Traded Funds (ETF) from around the world.
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