Correlation Between Telephone and Manhattan Associates
Can any of the company-specific risk be diversified away by investing in both Telephone and Manhattan Associates 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 Telephone and Manhattan Associates into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Telephone and Data and Manhattan Associates, you can compare the effects of market volatilities on Telephone and Manhattan Associates 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 Telephone with a short position of Manhattan Associates. Check out your portfolio center. Please also check ongoing floating volatility patterns of Telephone and Manhattan Associates.
Diversification Opportunities for Telephone and Manhattan Associates
0.1 | Correlation Coefficient |
Average diversification
The 3 months correlation between Telephone and Manhattan is 0.1. Overlapping area represents the amount of risk that can be diversified away by holding Telephone and Data and Manhattan Associates in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Manhattan Associates and Telephone 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 Telephone and Data are associated (or correlated) with Manhattan Associates. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Manhattan Associates has no effect on the direction of Telephone i.e., Telephone and Manhattan Associates go up and down completely randomly.
Pair Corralation between Telephone and Manhattan Associates
Considering the 90-day investment horizon Telephone and Data is expected to generate 0.75 times more return on investment than Manhattan Associates. However, Telephone and Data is 1.33 times less risky than Manhattan Associates. It trades about 0.0 of its potential returns per unit of risk. Manhattan Associates is currently generating about -0.16 per unit of risk. If you would invest 4,005 in Telephone and Data on August 29, 2025 and sell it today you would lose (33.00) from holding Telephone and Data or give up 0.82% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Telephone and Data vs. Manhattan Associates
Performance |
| Timeline |
| Telephone and Data |
| Manhattan Associates |
Telephone and Manhattan Associates Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Telephone and Manhattan Associates
The main advantage of trading using opposite Telephone and Manhattan Associates positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Telephone position performs unexpectedly, Manhattan Associates 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 Associates will offset losses from the drop in Manhattan Associates' long position.| Telephone vs. CTPartners Executive Search | Telephone vs. Impax Asset Management | Telephone vs. Strategic Management and | Telephone vs. On4 Communications |
| Manhattan Associates vs. Stewart Information Services | Manhattan Associates vs. Data Evolution Holdings | Manhattan Associates vs. Telephone and Data | Manhattan Associates vs. Cass Information Systems |
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 Stock Tickers module to use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites.
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