Correlation Between GetSwift Technologies and Mannatech Incorporated

Can any of the company-specific risk be diversified away by investing in both GetSwift Technologies and Mannatech Incorporated 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 GetSwift Technologies and Mannatech Incorporated into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between GetSwift Technologies Limited and Mannatech Incorporated, you can compare the effects of market volatilities on GetSwift Technologies and Mannatech Incorporated 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 GetSwift Technologies with a short position of Mannatech Incorporated. Check out your portfolio center. Please also check ongoing floating volatility patterns of GetSwift Technologies and Mannatech Incorporated.

Diversification Opportunities for GetSwift Technologies and Mannatech Incorporated

0.0

Correlation Coefficient

GetSwift Technologies  Mannatech Incorporated

Pay attention - limited upside

The 3 months correlation between GetSwift and Mannatech is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding GetSwift Technologies Limited and Mannatech Incorporated in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Mannatech Incorporated and GetSwift Technologies 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 GetSwift Technologies Limited are associated (or correlated) with Mannatech Incorporated. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Mannatech Incorporated has no effect on the direction of GetSwift Technologies i.e., GetSwift Technologies and Mannatech Incorporated go up and down completely randomly.

Pair Corralation between GetSwift Technologies and Mannatech Incorporated

If you would invest (100.00) in GetSwift Technologies Limited on December 28, 2024 and sell it today you would earn a total of  100.00  from holding GetSwift Technologies Limited or generate -100.0% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Flat
Strength	Insignificant
Accuracy	0.0%
Values	Daily Returns

GetSwift Technologies Limited  vs.  Mannatech Incorporated

GetSwift Technologies

Risk-Adjusted Performance

Very Weak

Over the last 90 days GetSwift Technologies Limited has generated negative risk-adjusted returns adding no value to investors with long positions. Even with relatively invariable basic indicators, GetSwift Technologies is not utilizing all of its potentials. The newest stock price agitation, may contribute to short-term losses for the retail investors.

Mannatech Incorporated

Risk-Adjusted Performance

Very Weak

Over the last 90 days Mannatech Incorporated has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of unsteady performance in the last few months, the Stock's technical and fundamental indicators remain fairly strong which may send shares a bit higher in April 2025. The current disturbance may also be a sign of long term up-swing for the company investors.

Pair Trading with GetSwift Technologies and Mannatech Incorporated

The main advantage of trading using opposite GetSwift Technologies and Mannatech Incorporated positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if GetSwift Technologies position performs unexpectedly, Mannatech Incorporated 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 Mannatech Incorporated will offset losses from the drop in Mannatech Incorporated's long position.

The idea behind GetSwift Technologies Limited and Mannatech Incorporated pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.

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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 CEOs Directory module to screen CEOs from public companies around the world.