Correlation Between Allient and Maplebear

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

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

Diversification Opportunities for Allient and Maplebear

0.29

Correlation Coefficient

Allient  Maplebear

Modest diversification

The 3 months correlation between Allient and Maplebear is 0.29. Overlapping area represents the amount of risk that can be diversified away by holding Allient and Maplebear in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Maplebear and Allient 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 Allient are associated (or correlated) with Maplebear. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Maplebear has no effect on the direction of Allient i.e., Allient and Maplebear go up and down completely randomly.

Pair Corralation between Allient and Maplebear

Given the investment horizon of 90 days Allient is expected to generate 1.04 times more return on investment than Maplebear. However, Allient is 1.04 times more volatile than Maplebear. It trades about 0.28 of its potential returns per unit of risk. Maplebear is currently generating about -0.04 per unit of risk. If you would invest  3,101  in Allient on May 26, 2025 and sell it today you would earn a total of  1,585  from holding Allient or generate 51.11% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Together
Strength	Very Weak
Accuracy	100.0%
Values	Daily Returns

Allient  vs.  Maplebear

Allient

Risk-Adjusted Performance

Solid

Compared to the overall equity markets, risk-adjusted returns on investments in Allient are ranked lower than 21 (%) of all global equities and portfolios over the last 90 days. In spite of comparatively unfluctuating basic indicators, Allient unveiled solid returns over the last few months and may actually be approaching a breakup point.

Maplebear

Risk-Adjusted Performance

Weakest

Over the last 90 days Maplebear has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of latest weak performance, the Stock's basic indicators remain stable and the newest uproar on Wall Street may also be a sign of mid-term gains for the firm private investors.

Pair Trading with Allient and Maplebear

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

The idea behind Allient and Maplebear 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 Global Markets Map module to get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes.