Correlation Between MCBC Holdings and Haverty Furniture
Can any of the company-specific risk be diversified away by investing in both MCBC Holdings and Haverty Furniture 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 MCBC Holdings and Haverty Furniture into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between MCBC Holdings and Haverty Furniture Companies, you can compare the effects of market volatilities on MCBC Holdings and Haverty Furniture 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 MCBC Holdings with a short position of Haverty Furniture. Check out your portfolio center. Please also check ongoing floating volatility patterns of MCBC Holdings and Haverty Furniture.
Diversification Opportunities for MCBC Holdings and Haverty Furniture
-0.63 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between MCBC and Haverty is -0.63. Overlapping area represents the amount of risk that can be diversified away by holding MCBC Holdings and Haverty Furniture Companies in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Haverty Furniture and MCBC 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 MCBC Holdings are associated (or correlated) with Haverty Furniture. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Haverty Furniture has no effect on the direction of MCBC Holdings i.e., MCBC Holdings and Haverty Furniture go up and down completely randomly.
Pair Corralation between MCBC Holdings and Haverty Furniture
Given the investment horizon of 90 days MCBC Holdings is expected to under-perform the Haverty Furniture. In addition to that, MCBC Holdings is 1.15 times more volatile than Haverty Furniture Companies. It trades about -0.05 of its total potential returns per unit of risk. Haverty Furniture Companies is currently generating about 0.11 per unit of volatility. If you would invest 2,078 in Haverty Furniture Companies on October 6, 2025 and sell it today you would earn a total of 280.00 from holding Haverty Furniture Companies or generate 13.47% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
MCBC Holdings vs. Haverty Furniture Companies
Performance |
| Timeline |
| MCBC Holdings |
| Haverty Furniture |
MCBC Holdings and Haverty Furniture Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with MCBC Holdings and Haverty Furniture
The main advantage of trading using opposite MCBC Holdings and Haverty Furniture positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if MCBC Holdings position performs unexpectedly, Haverty Furniture 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 Haverty Furniture will offset losses from the drop in Haverty Furniture's long position.| MCBC Holdings vs. Marine Products | MCBC Holdings vs. Empery Digital | MCBC Holdings vs. Onewater Marine | MCBC Holdings vs. Haverty Furniture Companies |
| Haverty Furniture vs. Dine Brands Global | Haverty Furniture vs. Portillos | Haverty Furniture vs. Caleres | Haverty Furniture vs. Honest Company |
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 Equity Analysis module to research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities.
Other Complementary Tools
| Cryptocurrency Center Build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency | |
| Fundamentals Comparison Compare fundamentals across multiple equities to find investing opportunities | |
| Financial Widgets Easily integrated Macroaxis content with over 30 different plug-and-play financial widgets | |
| Headlines Timeline Stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity | |
| Pair Correlation Compare performance and examine fundamental relationship between any two equity instruments |