Correlation Between Hawkins and Maplebear

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

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

Diversification Opportunities for Hawkins and Maplebear

0.68

Correlation Coefficient

Hawkins  Maplebear

Poor diversification

The 3 months correlation between Hawkins and Maplebear is 0.68. Overlapping area represents the amount of risk that can be diversified away by holding Hawkins and Maplebear in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Maplebear and Hawkins 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 Hawkins 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 Hawkins i.e., Hawkins and Maplebear go up and down completely randomly.

Pair Corralation between Hawkins and Maplebear

Given the investment horizon of 90 days Hawkins is expected to generate 0.77 times more return on investment than Maplebear. However, Hawkins is 1.31 times less risky than Maplebear. It trades about 0.36 of its potential returns per unit of risk. Maplebear is currently generating about 0.03 per unit of risk. If you would invest  11,964  in Hawkins on May 3, 2025 and sell it today you would earn a total of  4,364  from holding Hawkins or generate 36.48% return on investment over 90 days.

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

Hawkins  vs.  Maplebear

Hawkins

Risk-Adjusted Performance

Strong

Compared to the overall equity markets, risk-adjusted returns on investments in Hawkins are ranked lower than 28 (%) of all global equities and portfolios over the last 90 days. In spite of very conflicting forward-looking signals, Hawkins displayed solid returns over the last few months and may actually be approaching a breakup point.

Maplebear

Risk-Adjusted Performance

Weak

Compared to the overall equity markets, risk-adjusted returns on investments in Maplebear are ranked lower than 2 (%) of all global equities and portfolios over the last 90 days. In spite of comparatively stable basic indicators, Maplebear is not utilizing all of its potentials. The current stock price uproar, may contribute to short-horizon losses for the private investors.

Pair Trading with Hawkins and Maplebear

The main advantage of trading using opposite Hawkins and Maplebear positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Hawkins 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 Hawkins 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.

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 Portfolio Center module to all portfolio management and optimization tools to improve performance of your portfolios.