Correlation Between Manning Napier and Abbey Capital
Can any of the company-specific risk be diversified away by investing in both Manning Napier and Abbey Capital 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 Manning Napier and Abbey Capital into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Manning Napier Diversified and Abbey Capital Futures, you can compare the effects of market volatilities on Manning Napier and Abbey Capital 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 Manning Napier with a short position of Abbey Capital. Check out your portfolio center. Please also check ongoing floating volatility patterns of Manning Napier and Abbey Capital.
Diversification Opportunities for Manning Napier and Abbey Capital
0.82 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Manning and ABBEY is 0.82. Overlapping area represents the amount of risk that can be diversified away by holding Manning Napier Diversified and Abbey Capital Futures in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Abbey Capital Futures and Manning Napier 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 Manning Napier Diversified are associated (or correlated) with Abbey Capital. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Abbey Capital Futures has no effect on the direction of Manning Napier i.e., Manning Napier and Abbey Capital go up and down completely randomly.
Pair Corralation between Manning Napier and Abbey Capital
Assuming the 90 days horizon Manning Napier is expected to generate 2.12 times less return on investment than Abbey Capital. But when comparing it to its historical volatility, Manning Napier Diversified is 4.92 times less risky than Abbey Capital. It trades about 0.3 of its potential returns per unit of risk. Abbey Capital Futures is currently generating about 0.13 of returns per unit of risk over similar time horizon. If you would invest 1,002 in Abbey Capital Futures on September 4, 2025 and sell it today you would earn a total of 43.00 from holding Abbey Capital Futures or generate 4.29% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Manning Napier Diversified vs. Abbey Capital Futures
Performance |
| Timeline |
| Manning Napier Diver |
| Abbey Capital Futures |
Manning Napier and Abbey Capital Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Manning Napier and Abbey Capital
The main advantage of trading using opposite Manning Napier and Abbey Capital positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Manning Napier position performs unexpectedly, Abbey Capital 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 Abbey Capital will offset losses from the drop in Abbey Capital's long position.| Manning Napier vs. Manning Napier Callodine | Manning Napier vs. Manning Napier Callodine | Manning Napier vs. Manning Napier Callodine | Manning Napier vs. Pro Blend Extended Term |
| Abbey Capital vs. Manning Napier Diversified | Abbey Capital vs. Victory Diversified Stock | Abbey Capital vs. Lord Abbett Diversified | Abbey Capital vs. Fulcrum Diversified Absolute |
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 Sync Your Broker module to sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors..
Other Complementary Tools
| Sign In To Macroaxis Sign in to explore Macroaxis' wealth optimization platform and fintech modules | |
| Stocks Directory Find actively traded stocks across global markets | |
| Earnings Calls Check upcoming earnings announcements updated hourly across public exchanges | |
| My Watchlist Analysis Analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like | |
| Portfolio Comparator Compare the composition, asset allocations and performance of any two portfolios in your account |