Correlation Between Satellogic Warrant and Mercury Systems
Can any of the company-specific risk be diversified away by investing in both Satellogic Warrant and Mercury Systems 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 Satellogic Warrant and Mercury Systems into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Satellogic Warrant and Mercury Systems, you can compare the effects of market volatilities on Satellogic Warrant and Mercury Systems 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 Satellogic Warrant with a short position of Mercury Systems. Check out your portfolio center. Please also check ongoing floating volatility patterns of Satellogic Warrant and Mercury Systems.
Diversification Opportunities for Satellogic Warrant and Mercury Systems
-0.29 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Satellogic and Mercury is -0.29. Overlapping area represents the amount of risk that can be diversified away by holding Satellogic Warrant and Mercury Systems in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Mercury Systems and Satellogic Warrant 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 Satellogic Warrant are associated (or correlated) with Mercury Systems. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Mercury Systems has no effect on the direction of Satellogic Warrant i.e., Satellogic Warrant and Mercury Systems go up and down completely randomly.
Pair Corralation between Satellogic Warrant and Mercury Systems
Assuming the 90 days horizon Satellogic Warrant is expected to generate 2.27 times less return on investment than Mercury Systems. In addition to that, Satellogic Warrant is 1.28 times more volatile than Mercury Systems. It trades about 0.07 of its total potential returns per unit of risk. Mercury Systems is currently generating about 0.21 per unit of volatility. If you would invest 5,393 in Mercury Systems on June 7, 2025 and sell it today you would earn a total of 1,396 from holding Mercury Systems or generate 25.89% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 90.48% |
| Values | Daily Returns |
Satellogic Warrant vs. Mercury Systems
Performance |
| Timeline |
| Satellogic Warrant |
| Mercury Systems |
Satellogic Warrant and Mercury Systems Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Satellogic Warrant and Mercury Systems
The main advantage of trading using opposite Satellogic Warrant and Mercury Systems positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Satellogic Warrant position performs unexpectedly, Mercury Systems 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 Mercury Systems will offset losses from the drop in Mercury Systems' long position.| Satellogic Warrant vs. Mobilicom Limited American | Satellogic Warrant vs. Sonim Technologies | Satellogic Warrant vs. PowerFleet, | Satellogic Warrant vs. Moving iMage Technologies |
| Mercury Systems vs. AAR Corp | Mercury Systems vs. Curtiss Wright | Mercury Systems vs. Hexcel | Mercury Systems vs. Moog Inc |
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 Technical Analysis module to check basic technical indicators and analysis based on most latest market data.
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