Correlation Between Orthometrix and Maplebear

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

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

Diversification Opportunities for Orthometrix and Maplebear

0.0

Correlation Coefficient

Orthometrix  Maplebear

Pay attention - limited upside

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

Pair Corralation between Orthometrix and Maplebear

If you would invest  4,361  in Maplebear on May 11, 2025 and sell it today you would earn a total of  760.00  from holding Maplebear or generate 17.43% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Flat
Strength	Insignificant
Accuracy	98.41%
Values	Daily Returns

Orthometrix  vs.  Maplebear

Orthometrix

Risk-Adjusted Performance

Weakest

Over the last 90 days Orthometrix has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of fairly strong basic indicators, Orthometrix is not utilizing all of its potentials. The newest stock price disturbance, may contribute to short-term losses for the investors.

Maplebear

Risk-Adjusted Performance

Good

Compared to the overall equity markets, risk-adjusted returns on investments in Maplebear are ranked lower than 12 (%) of all global equities and portfolios over the last 90 days. In spite of comparatively weak basic indicators, Maplebear unveiled solid returns over the last few months and may actually be approaching a breakup point.

Pair Trading with Orthometrix and Maplebear

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

The idea behind Orthometrix and Maplebear 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 Investing Opportunities module to build portfolios using our predefined set of ideas and optimize them against your investing preferences.