Correlation Between Mannatech Incorporated and Corus Entertainment

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

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

Diversification Opportunities for Mannatech Incorporated and Corus Entertainment

0.0

Correlation Coefficient

Mannatech Incorporated  Corus Entertainment

Pay attention - limited upside

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

Pair Corralation between Mannatech Incorporated and Corus Entertainment

If you would invest (100.00) in Corus Entertainment on December 29, 2024 and sell it today you would earn a total of  100.00  from holding Corus Entertainment 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

Mannatech Incorporated  vs.  Corus Entertainment

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.

Corus Entertainment

Risk-Adjusted Performance

Very Weak

Over the last 90 days Corus Entertainment has generated negative risk-adjusted returns adding no value to investors with long positions. Despite nearly stable technical and fundamental indicators, Corus Entertainment is not utilizing all of its potentials. The latest stock price disturbance, may contribute to mid-run losses for the stockholders.

Pair Trading with Mannatech Incorporated and Corus Entertainment

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

The idea behind Mannatech Incorporated and Corus Entertainment 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 Headlines Timeline module to stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity.