Correlation Between Maplebear and Teleflex Incorporated

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

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

Diversification Opportunities for Maplebear and Teleflex Incorporated

-0.57

Correlation Coefficient

Maplebear  Teleflex Incorporated

Excellent diversification

The 3 months correlation between Maplebear and Teleflex is -0.57. Overlapping area represents the amount of risk that can be diversified away by holding Maplebear and Teleflex Incorporated in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Teleflex Incorporated and Maplebear 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 Maplebear are associated (or correlated) with Teleflex Incorporated. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Teleflex Incorporated has no effect on the direction of Maplebear i.e., Maplebear and Teleflex Incorporated go up and down completely randomly.

Pair Corralation between Maplebear and Teleflex Incorporated

Given the investment horizon of 90 days Maplebear is expected to under-perform the Teleflex Incorporated. In addition to that, Maplebear is 1.25 times more volatile than Teleflex Incorporated. It trades about -0.04 of its total potential returns per unit of risk. Teleflex Incorporated is currently generating about 0.05 per unit of volatility. If you would invest  12,262  in Teleflex Incorporated on May 25, 2025 and sell it today you would earn a total of  680.00  from holding Teleflex Incorporated or generate 5.55% return on investment over 90 days.

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

Maplebear  vs.  Teleflex Incorporated

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 unsteady 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.

Teleflex Incorporated

Risk-Adjusted Performance

Soft

Compared to the overall equity markets, risk-adjusted returns on investments in Teleflex Incorporated are ranked lower than 4 (%) of all global equities and portfolios over the last 90 days. In spite of fairly unsteady technical and fundamental indicators, Teleflex Incorporated may actually be approaching a critical reversion point that can send shares even higher in September 2025.

Pair Trading with Maplebear and Teleflex Incorporated

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

The idea behind Maplebear and Teleflex 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 Efficient Frontier module to plot and analyze your portfolio and positions against risk-return landscape of the market..