Correlation Between Metal Sky and JetAI

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

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

Diversification Opportunities for Metal Sky and JetAI

-0.27

Correlation Coefficient

Metal Sky  JetAI

Very good diversification

The 3 months correlation between Metal and JetAI is -0.27. Overlapping area represents the amount of risk that can be diversified away by holding Metal Sky Star and JetAI Inc in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on JetAI Inc and Metal Sky 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 Metal Sky Star are associated (or correlated) with JetAI. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of JetAI Inc has no effect on the direction of Metal Sky i.e., Metal Sky and JetAI go up and down completely randomly.

Pair Corralation between Metal Sky and JetAI

If you would invest  1,179  in Metal Sky Star on August 6, 2025 and sell it today you would earn a total of  0.00  from holding Metal Sky Star or generate 0.0% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Against
Strength	Insignificant
Accuracy	7.94%
Values	Daily Returns

Metal Sky Star  vs.  JetAI Inc

Metal Sky Star

Risk-Adjusted Performance

Weakest

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

JetAI Inc

Risk-Adjusted Performance

Weakest

Over the last 90 days JetAI Inc has generated negative risk-adjusted returns adding no value to investors with long positions. Despite uncertain performance in the last few months, the Stock's basic indicators remain fairly strong which may send shares a bit higher in December 2025. The recent confusion may also be a sign of long-lasting up-swing for the firm traders.

Pair Trading with Metal Sky and JetAI

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

The idea behind Metal Sky Star and JetAI Inc 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 Efficient Frontier module to plot and analyze your portfolio and positions against risk-return landscape of the market..