Correlation Between Mantle and ElizaOS

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

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

Diversification Opportunities for Mantle and ElizaOS

0.77

Correlation Coefficient

Mantle  ElizaOS

Poor diversification

The 3 months correlation between Mantle and ElizaOS is 0.77. Overlapping area represents the amount of risk that can be diversified away by holding Mantle and ElizaOS in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on ElizaOS and Mantle 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 Mantle are associated (or correlated) with ElizaOS. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ElizaOS has no effect on the direction of Mantle i.e., Mantle and ElizaOS go up and down completely randomly.

Pair Corralation between Mantle and ElizaOS

Assuming the 90 days trading horizon Mantle is expected to generate 1.23 times less return on investment than ElizaOS. But when comparing it to its historical volatility, Mantle is 2.69 times less risky than ElizaOS. It trades about 0.06 of its potential returns per unit of risk. ElizaOS is currently generating about 0.03 of returns per unit of risk over similar time horizon. If you would invest  19.00  in ElizaOS on April 23, 2025 and sell it today you would lose (2.00) from holding ElizaOS or give up 10.53% of portfolio value over 90 days.

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

Mantle  vs.  ElizaOS

Mantle

Risk-Adjusted Performance

Modest

Compared to the overall equity markets, risk-adjusted returns on investments in Mantle are ranked lower than 4 (%) of all global equities and portfolios over the last 90 days. Despite somewhat unsteady basic indicators, Mantle sustained solid returns over the last few months and may actually be approaching a breakup point.

ElizaOS

Risk-Adjusted Performance

Weak

Compared to the overall equity markets, risk-adjusted returns on investments in ElizaOS are ranked lower than 2 (%) of all global equities and portfolios over the last 90 days. In spite of rather unsteady fundamental indicators, ElizaOS exhibited solid returns over the last few months and may actually be approaching a breakup point.

Pair Trading with Mantle and ElizaOS

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

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