Correlation Between Mosaic and Altice

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

By analyzing existing cross correlation between The Mosaic and Altice France 8125, you can compare the effects of market volatilities on Mosaic and Altice 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 Mosaic with a short position of Altice. Check out your portfolio center. Please also check ongoing floating volatility patterns of Mosaic and Altice.

Diversification Opportunities for Mosaic and Altice

-0.11

Correlation Coefficient

Mosaic  Altice

Good diversification

The 3 months correlation between Mosaic and Altice is -0.11. Overlapping area represents the amount of risk that can be diversified away by holding The Mosaic and Altice France 8125 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Altice France 8125 and Mosaic 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 The Mosaic are associated (or correlated) with Altice. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Altice France 8125 has no effect on the direction of Mosaic i.e., Mosaic and Altice go up and down completely randomly.

Pair Corralation between Mosaic and Altice

Considering the 90-day investment horizon The Mosaic is expected to generate 2.47 times more return on investment than Altice. However, Mosaic is 2.47 times more volatile than Altice France 8125. It trades about 0.11 of its potential returns per unit of risk. Altice France 8125 is currently generating about 0.18 per unit of risk. If you would invest  2,378  in The Mosaic on December 30, 2024 and sell it today you would earn a total of  347.00  from holding The Mosaic or generate 14.59% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Against
Strength	Insignificant
Accuracy	88.71%
Values	Daily Returns

The Mosaic  vs.  Altice France 8125

Mosaic

Risk-Adjusted Performance

OK

Compared to the overall equity markets, risk-adjusted returns on investments in The Mosaic are ranked lower than 8 (%) of all global equities and portfolios over the last 90 days. In spite of comparatively weak basic indicators, Mosaic unveiled solid returns over the last few months and may actually be approaching a breakup point.

Altice France 8125

Risk-Adjusted Performance

Good

Compared to the overall equity markets, risk-adjusted returns on investments in Altice France 8125 are ranked lower than 14 (%) of all global equities and portfolios over the last 90 days. Despite somewhat inconsistent basic indicators, Altice may actually be approaching a critical reversion point that can send shares even higher in April 2025.

Pair Trading with Mosaic and Altice

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

The idea behind The Mosaic and Altice France 8125 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 USA ETFs module to find actively traded Exchange Traded Funds (ETF) in USA.