Correlation Between Global Crossing and Mattr Corp

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

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

Diversification Opportunities for Global Crossing and Mattr Corp

0.23

Correlation Coefficient

Global Crossing  Mattr Corp

Modest diversification

The 3 months correlation between Global and Mattr is 0.23. Overlapping area represents the amount of risk that can be diversified away by holding Global Crossing Airlines and Mattr Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Mattr Corp and Global Crossing 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 Global Crossing Airlines are associated (or correlated) with Mattr Corp. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Mattr Corp has no effect on the direction of Global Crossing i.e., Global Crossing and Mattr Corp go up and down completely randomly.

Pair Corralation between Global Crossing and Mattr Corp

Assuming the 90 days trading horizon Global Crossing Airlines is expected to generate 1.1 times more return on investment than Mattr Corp. However, Global Crossing is 1.1 times more volatile than Mattr Corp. It trades about 0.01 of its potential returns per unit of risk. Mattr Corp is currently generating about -0.2 per unit of risk. If you would invest  91.00  in Global Crossing Airlines on September 6, 2025 and sell it today you would lose (1.00) from holding Global Crossing Airlines or give up 1.1% of portfolio value over 90 days.

Time Period	3 Months [change]
Direction	Moves Together
Strength	Very Weak
Accuracy	100.0%
Values	Daily Returns

Global Crossing Airlines  vs.  Mattr Corp

Global Crossing Airlines

Risk-Adjusted Performance

Weakest

Over the last 90 days Global Crossing Airlines has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of very healthy basic indicators, Global Crossing is not utilizing all of its potentials. The recent stock price disarray, may contribute to short-term losses for the investors.

Mattr Corp

Risk-Adjusted Performance

Weakest

Over the last 90 days Mattr Corp has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of unfluctuating performance in the last few months, the Stock's basic indicators remain very healthy which may send shares a bit higher in January 2026. The recent disarray may also be a sign of long period up-swing for the firm investors.

Pair Trading with Global Crossing and Mattr Corp

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

The idea behind Global Crossing Airlines and Mattr Corp 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 My Watchlist Analysis module to analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like.