Correlation Between Manatron and EverQuote

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

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

Diversification Opportunities for Manatron and EverQuote

0.13

Correlation Coefficient

Manatron  EverQuote

Average diversification

The 3 months correlation between Manatron and EverQuote is 0.13. Overlapping area represents the amount of risk that can be diversified away by holding Manatron and EverQuote Class A in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on EverQuote Class A and Manatron 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 Manatron are associated (or correlated) with EverQuote. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of EverQuote Class A has no effect on the direction of Manatron i.e., Manatron and EverQuote go up and down completely randomly.

Pair Corralation between Manatron and EverQuote

Given the investment horizon of 90 days Manatron is expected to generate 2.48 times more return on investment than EverQuote. However, Manatron is 2.48 times more volatile than EverQuote Class A. It trades about -0.04 of its potential returns per unit of risk. EverQuote Class A is currently generating about -0.14 per unit of risk. If you would invest  290.00  in Manatron on July 21, 2025 and sell it today you would lose (75.00) from holding Manatron or give up 25.86% of portfolio value over 90 days.

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

Manatron  vs.  EverQuote Class A

Manatron

Risk-Adjusted Performance

Weakest

Over the last 90 days Manatron has generated negative risk-adjusted returns adding no value to investors with long positions. Despite fragile performance in the last few months, the Stock's basic indicators remain somewhat strong which may send shares a bit higher in November 2025. The current disturbance may also be a sign of long term up-swing for the company investors.

EverQuote Class A

Risk-Adjusted Performance

Weakest

Over the last 90 days EverQuote Class A has generated negative risk-adjusted returns adding no value to investors with long positions. Even with unfluctuating performance in the last few months, the Stock's technical and fundamental indicators remain relatively invariable which may send shares a bit higher in November 2025. The latest agitation may also be a sign of long-running up-swing for the enterprise retail investors.

Pair Trading with Manatron and EverQuote

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

The idea behind Manatron and EverQuote Class A 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 Portfolio Manager module to state of the art Portfolio Manager to monitor and improve performance of your invested capital.