Correlation Between North West and Maplebear

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

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

Diversification Opportunities for North West and Maplebear

0.0

Correlation Coefficient

North West  Maplebear

Pay attention - limited upside

The 3 months correlation between North and Maplebear is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding North West and Maplebear in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Maplebear and North West 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 North West 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 North West i.e., North West and Maplebear go up and down completely randomly.

Pair Corralation between North West and Maplebear

If you would invest (100.00) in North West on August 26, 2025 and sell it today you would earn a total of  100.00  from holding North West or generate -100.0% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Flat
Strength	Insignificant
Accuracy	0.0%
Values	Daily Returns

North West  vs.  Maplebear

North West

Risk-Adjusted Performance

Weakest

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

Maplebear

Risk-Adjusted Performance

Weakest

Over the last 90 days Maplebear has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of comparatively stable basic indicators, Maplebear is not utilizing all of its potentials. The current stock price uproar, may contribute to short-horizon losses for the private investors.

Pair Trading with North West and Maplebear

The main advantage of trading using opposite North West and Maplebear positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if North West 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 North West 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 Technical Analysis module to check basic technical indicators and analysis based on most latest market data.