Correlation Between Safe Pro and Mastech Holdings

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

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

Diversification Opportunities for Safe Pro and Mastech Holdings

0.06

Correlation Coefficient

Safe Pro  Mastech Holdings

Significant diversification

The 3 months correlation between Safe and Mastech is 0.06. Overlapping area represents the amount of risk that can be diversified away by holding Safe Pro Group and Mastech Holdings in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Mastech Holdings and Safe Pro 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 Safe Pro Group are associated (or correlated) with Mastech Holdings. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Mastech Holdings has no effect on the direction of Safe Pro i.e., Safe Pro and Mastech Holdings go up and down completely randomly.

Pair Corralation between Safe Pro and Mastech Holdings

Given the investment horizon of 90 days Safe Pro Group is expected to generate 2.61 times more return on investment than Mastech Holdings. However, Safe Pro is 2.61 times more volatile than Mastech Holdings. It trades about 0.05 of its potential returns per unit of risk. Mastech Holdings is currently generating about 0.01 per unit of risk. If you would invest  427.00  in Safe Pro Group on September 14, 2025 and sell it today you would earn a total of  11.00  from holding Safe Pro Group or generate 2.58% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Together
Strength	Insignificant
Accuracy	65.99%
Values	Daily Returns

Safe Pro Group  vs.  Mastech Holdings

Safe Pro Group

Risk-Adjusted Performance

Weakest

Over the last 90 days Safe Pro Group has generated negative risk-adjusted returns adding no value to investors with long positions. Despite abnormal performance in the last few months, the Stock's basic indicators remain fairly strong which may send shares a bit higher in January 2026. The recent confusion may also be a sign of long-lasting up-swing for the firm traders.

Mastech Holdings

Risk-Adjusted Performance

Weak

Compared to the overall equity markets, risk-adjusted returns on investments in Mastech Holdings are ranked lower than 1 (%) of all global equities and portfolios over the last 90 days. Despite fairly strong technical indicators, Mastech Holdings is not utilizing all of its potentials. The current stock price confusion, may contribute to short-horizon losses for the traders.

Pair Trading with Safe Pro and Mastech Holdings

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

The idea behind Safe Pro Group and Mastech Holdings 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 Stocks Directory module to find actively traded stocks across global markets.