Correlation Between Martin Marietta and Jasper Therapeutics

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

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

Diversification Opportunities for Martin Marietta and Jasper Therapeutics

0.46

Correlation Coefficient

Martin Marietta  Jasper Therapeutics

Very weak diversification

The 3 months correlation between Martin and Jasper is 0.46. Overlapping area represents the amount of risk that can be diversified away by holding Martin Marietta Materials and Jasper Therapeutics in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Jasper Therapeutics and Martin Marietta 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 Martin Marietta Materials are associated (or correlated) with Jasper Therapeutics. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Jasper Therapeutics has no effect on the direction of Martin Marietta i.e., Martin Marietta and Jasper Therapeutics go up and down completely randomly.

Pair Corralation between Martin Marietta and Jasper Therapeutics

Considering the 90-day investment horizon Martin Marietta Materials is expected to generate 0.23 times more return on investment than Jasper Therapeutics. However, Martin Marietta Materials is 4.31 times less risky than Jasper Therapeutics. It trades about 0.05 of its potential returns per unit of risk. Jasper Therapeutics is currently generating about -0.07 per unit of risk. If you would invest  61,027  in Martin Marietta Materials on September 14, 2025 and sell it today you would earn a total of  1,798  from holding Martin Marietta Materials or generate 2.95% return on investment over 90 days.

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

Martin Marietta Materials  vs.  Jasper Therapeutics

Martin Marietta Materials

Risk-Adjusted Performance

Soft

Compared to the overall equity markets, risk-adjusted returns on investments in Martin Marietta Materials are ranked lower than 3 (%) of all global equities and portfolios over the last 90 days. In spite of very healthy essential indicators, Martin Marietta is not utilizing all of its potentials. The newest stock price disarray, may contribute to short-term losses for the investors.

Jasper Therapeutics

Risk-Adjusted Performance

Weakest

Over the last 90 days Jasper Therapeutics has generated negative risk-adjusted returns adding no value to investors with long positions. Even with weak performance in the last few months, the Stock's basic indicators remain relatively invariable which may send shares a bit higher in January 2026. The latest agitation may also be a sign of long-running up-swing for the enterprise retail investors.

Pair Trading with Martin Marietta and Jasper Therapeutics

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

The idea behind Martin Marietta Materials and Jasper Therapeutics 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 Equity Forecasting module to use basic forecasting models to generate price predictions and determine price momentum.