Correlation Between Salesforce and Mynaric AG

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

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

Diversification Opportunities for Salesforce and Mynaric AG

0.0

Correlation Coefficient

Salesforce  Mynaric AG

Pay attention - limited upside

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

Pair Corralation between Salesforce and Mynaric AG

If you would invest (100.00) in Mynaric AG ADR on May 4, 2025 and sell it today you would earn a total of  100.00  from holding Mynaric AG ADR 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

Salesforce  vs.  Mynaric AG ADR

Salesforce

Risk-Adjusted Performance

Very Weak

Over the last 90 days Salesforce has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of latest inconsistent performance, the Stock's basic indicators remain healthy and the recent disarray on Wall Street may also be a sign of long period gains for the firm investors.

Mynaric AG ADR

Risk-Adjusted Performance

Very Weak

Over the last 90 days Mynaric AG ADR has generated negative risk-adjusted returns adding no value to investors with long positions. Despite somewhat strong basic indicators, Mynaric AG is not utilizing all of its potentials. The newest stock price disturbance, may contribute to short-term losses for the investors.

Pair Trading with Salesforce and Mynaric AG

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

The idea behind Salesforce and Mynaric AG ADR 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.

Check out your portfolio center.

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 Options Analysis module to analyze and evaluate options and option chains as a potential hedge for your portfolios.