Correlation Between Spin Master and Acushnet Holdings
Can any of the company-specific risk be diversified away by investing in both Spin Master and Acushnet Holdings 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 Spin Master and Acushnet Holdings into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Spin Master Corp and Acushnet Holdings Corp, you can compare the effects of market volatilities on Spin Master and Acushnet Holdings 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 Spin Master with a short position of Acushnet Holdings. Check out your portfolio center. Please also check ongoing floating volatility patterns of Spin Master and Acushnet Holdings.
Diversification Opportunities for Spin Master and Acushnet Holdings
-0.61 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Spin and Acushnet is -0.61. Overlapping area represents the amount of risk that can be diversified away by holding Spin Master Corp and Acushnet Holdings Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Acushnet Holdings Corp and Spin Master 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 Spin Master Corp are associated (or correlated) with Acushnet Holdings. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Acushnet Holdings Corp has no effect on the direction of Spin Master i.e., Spin Master and Acushnet Holdings go up and down completely randomly.
Pair Corralation between Spin Master and Acushnet Holdings
Assuming the 90 days trading horizon Spin Master Corp is expected to under-perform the Acushnet Holdings. In addition to that, Spin Master is 1.32 times more volatile than Acushnet Holdings Corp. It trades about -0.1 of its total potential returns per unit of risk. Acushnet Holdings Corp is currently generating about 0.03 per unit of volatility. If you would invest 7,769 in Acushnet Holdings Corp on August 18, 2025 and sell it today you would earn a total of 174.00 from holding Acushnet Holdings Corp or generate 2.24% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 98.46% |
| Values | Daily Returns |
Spin Master Corp vs. Acushnet Holdings Corp
Performance |
| Timeline |
| Spin Master Corp |
| Acushnet Holdings Corp |
Spin Master and Acushnet Holdings Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Spin Master and Acushnet Holdings
The main advantage of trading using opposite Spin Master and Acushnet Holdings positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Spin Master position performs unexpectedly, Acushnet Holdings 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 Acushnet Holdings will offset losses from the drop in Acushnet Holdings' long position.| Spin Master vs. Richelieu Hardware | Spin Master vs. Leons Furniture Limited | Spin Master vs. Canada Goose Holdings | Spin Master vs. Pet Valu Holdings |
| Acushnet Holdings vs. Life Time Group | Acushnet Holdings vs. Crocs Inc | Acushnet Holdings vs. Cavco Industries | Acushnet Holdings vs. Frontdoor |
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 ETFs module to find actively traded Exchange Traded Funds (ETF) from around the world.
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