Correlation Between Global Self and Manhattan Bridge
Can any of the company-specific risk be diversified away by investing in both Global Self and Manhattan Bridge 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 Global Self and Manhattan Bridge into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Global Self Storage and Manhattan Bridge Capital, you can compare the effects of market volatilities on Global Self and Manhattan Bridge 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 Global Self with a short position of Manhattan Bridge. Check out your portfolio center. Please also check ongoing floating volatility patterns of Global Self and Manhattan Bridge.
Diversification Opportunities for Global Self and Manhattan Bridge
-0.32 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Global and Manhattan is -0.32. Overlapping area represents the amount of risk that can be diversified away by holding Global Self Storage and Manhattan Bridge Capital in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Manhattan Bridge Capital and Global Self 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 Global Self Storage are associated (or correlated) with Manhattan Bridge. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Manhattan Bridge Capital has no effect on the direction of Global Self i.e., Global Self and Manhattan Bridge go up and down completely randomly.
Pair Corralation between Global Self and Manhattan Bridge
Given the investment horizon of 90 days Global Self Storage is expected to generate 0.68 times more return on investment than Manhattan Bridge. However, Global Self Storage is 1.47 times less risky than Manhattan Bridge. It trades about -0.02 of its potential returns per unit of risk. Manhattan Bridge Capital is currently generating about -0.11 per unit of risk. If you would invest 508.00 in Global Self Storage on September 8, 2025 and sell it today you would lose (9.00) from holding Global Self Storage or give up 1.77% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Global Self Storage vs. Manhattan Bridge Capital
Performance |
| Timeline |
| Global Self Storage |
| Manhattan Bridge Capital |
Global Self and Manhattan Bridge Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Global Self and Manhattan Bridge
The main advantage of trading using opposite Global Self and Manhattan Bridge positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Global Self position performs unexpectedly, Manhattan Bridge 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 Manhattan Bridge will offset losses from the drop in Manhattan Bridge's long position.| Global Self vs. Delta Apparel, | Global Self vs. Comtech Telecommunications Corp | Global Self vs. Cabal Communications | Global Self vs. Apparel Manufacturing Associates |
| Manhattan Bridge vs. US GoldMining Common | Manhattan Bridge vs. Catalyst Metals Limited | Manhattan Bridge vs. ZhongAn Online P | Manhattan Bridge vs. Copperbank Resources Corp |
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 Valuation module to check real value of public entities based on technical and fundamental data.
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