Correlation Between Manulife Financial and Kua Investments
Can any of the company-specific risk be diversified away by investing in both Manulife Financial and Kua Investments 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 Manulife Financial and Kua Investments into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Manulife Financial Corp and Kua Investments, you can compare the effects of market volatilities on Manulife Financial and Kua Investments 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 Manulife Financial with a short position of Kua Investments. Check out your portfolio center. Please also check ongoing floating volatility patterns of Manulife Financial and Kua Investments.
Diversification Opportunities for Manulife Financial and Kua Investments
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Manulife and Kua is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Manulife Financial Corp and Kua Investments in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Kua Investments and Manulife Financial 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 Manulife Financial Corp are associated (or correlated) with Kua Investments. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Kua Investments has no effect on the direction of Manulife Financial i.e., Manulife Financial and Kua Investments go up and down completely randomly.
Pair Corralation between Manulife Financial and Kua Investments
If you would invest 4,182 in Manulife Financial Corp on August 27, 2025 and sell it today you would earn a total of 746.00 from holding Manulife Financial Corp or generate 17.84% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Manulife Financial Corp vs. Kua Investments
Performance |
| Timeline |
| Manulife Financial Corp |
| Kua Investments |
Manulife Financial and Kua Investments Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Manulife Financial and Kua Investments
The main advantage of trading using opposite Manulife Financial and Kua Investments positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Manulife Financial position performs unexpectedly, Kua Investments 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 Kua Investments will offset losses from the drop in Kua Investments' long position.| Manulife Financial vs. Kua Investments | Manulife Financial vs. Mako Mining Corp | Manulife Financial vs. Economic Investment Trust | Manulife Financial vs. Perseus Mining |
| Kua Investments vs. Westshore Terminals Investment | Kua Investments vs. Canadian Utilities Limited | Kua Investments vs. Upstart Investments | Kua Investments vs. NorthWest Healthcare Properties |
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 Fundamentals Comparison module to compare fundamentals across multiple equities to find investing opportunities.
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