Correlation Between MamaMancinis Holdings and Grand Havana

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

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

Diversification Opportunities for MamaMancinis Holdings and Grand Havana

0.0

Correlation Coefficient

MamaMancinis Holdings  Grand Havana

Pay attention - limited upside

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

Pair Corralation between MamaMancinis Holdings and Grand Havana

If you would invest (100.00) in MamaMancinis Holdings on May 7, 2025 and sell it today you would earn a total of  100.00  from holding MamaMancinis Holdings 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

MamaMancinis Holdings  vs.  Grand Havana

MamaMancinis Holdings

Risk-Adjusted Performance

Very Weak

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

Grand Havana

Risk-Adjusted Performance

Very Weak

Over the last 90 days Grand Havana has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of unsteady performance in the last few months, the Stock's basic indicators remain fairly stable which may send shares a bit higher in September 2025. The latest fuss may also be a sign of long-term up-swing for the venture sophisticated investors.

Pair Trading with MamaMancinis Holdings and Grand Havana

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

The idea behind MamaMancinis Holdings and Grand Havana 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 Watchlist Optimization module to optimize watchlists to build efficient portfolios or rebalance existing positions based on the mean-variance optimization algorithm.