Correlation Between Mayr-Melnhof Karton and Winpak

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

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

Diversification Opportunities for Mayr-Melnhof Karton and Winpak

0.0

Correlation Coefficient

Mayr-Melnhof Karton  Winpak

Pay attention - limited upside

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

Pair Corralation between Mayr-Melnhof Karton and Winpak

If you would invest  3,052  in Winpak on August 31, 2025 and sell it today you would earn a total of  92.00  from holding Winpak or generate 3.01% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Flat
Strength	Insignificant
Accuracy	96.92%
Values	Daily Returns

Mayr Melnhof Karton AG  vs.  Winpak

Mayr Melnhof Karton

Risk-Adjusted Performance

Weakest

Over the last 90 days Mayr Melnhof Karton AG has generated negative risk-adjusted returns adding no value to investors with long positions. Despite nearly stable technical and fundamental indicators, Mayr-Melnhof Karton is not utilizing all of its potentials. The current stock price disturbance, may contribute to mid-run losses for the stockholders.

Winpak

Risk-Adjusted Performance

Soft

Compared to the overall equity markets, risk-adjusted returns on investments in Winpak are ranked lower than 3 (%) of all global equities and portfolios over the last 90 days. Despite nearly stable forward-looking signals, Winpak is not utilizing all of its potentials. The latest stock price disturbance, may contribute to mid-run losses for the stockholders.

Pair Trading with Mayr-Melnhof Karton and Winpak

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

The idea behind Mayr Melnhof Karton AG and Winpak 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 Fundamental Analysis module to view fundamental data based on most recent published financial statements.