Mars Acquisition Correlations

MARXU Stock

11.00 0.03 0.27%

The current 90-days correlation between Mars Acquisition Corp and Timken Company is -0.01 (i.e., Good diversification). The correlation of Mars Acquisition is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Mars Acquisition Correlation With Market

Average diversification

The correlation between Mars Acquisition Corp and DJI is 0.12 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mars Acquisition Corp and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Mars Acquisition Corp. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in interest.

Moving against Mars Stock

0.55	GROW	US Global Investors	Pair Corr
0.49	LADR	Ladder Capital Corp	Pair Corr
0.47	ARI	Apollo Commercial Real	Pair Corr
0.36	EFC	Ellington Financial	Pair Corr
0.49	CMTG	Claros Mortgage Trust	Pair Corr
0.35	ACRE	Ares Commercial Real	Pair Corr

Related Correlations Analysis

	TKR	EL	VRA	TSM	UMGNF	ON	WMG
TKR		0.77	-0.05	0.03	0.71	0.39	-0.2	TKR
EL	0.77		-0.07	-0.3	0.73	0.34	-0.51	EL
VRA	-0.05	-0.07		0.29	-0.25	0.13	0.35	VRA
TSM	0.03	-0.3	0.29		-0.18	-0.15	0.77	TSM
UMGNF	0.71	0.73	-0.25	-0.18		0.33	-0.39	UMGNF
ON	0.39	0.34	0.13	-0.15	0.33		-0.14	ON
WMG	-0.2	-0.51	0.35	0.77	-0.39	-0.14		WMG
	TKR	EL	VRA	TSM	UMGNF	ON	WMG

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

EL	+ 0.77	TKR
WMG	+ 0.77	TSM
UMGNF	+ 0.73	EL
UMGNF	+ 0.71	TKR
ON	+ 0.39	TKR
WMG	+ 0.35	VRA

High negative correlations

WMG	- 0.51	EL
WMG	- 0.39	UMGNF
TSM	- 0.3	EL
UMGNF	- 0.25	VRA
WMG	- 0.2	TKR
UMGNF	- 0.18	TSM

Risk-Adjusted Indicators

There is a big difference between Mars Stock performing well and Mars Acquisition Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Mars Acquisition's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
TKR	1.35	(0.21)	0.00	(0.02)	0.00	0.00	2.64	(2.13)	16.50
EL	2.06	(0.23)	0.00	(0.16)	0.00	0.00	4.80	(3.43)	30.90
VRA	1.87	(0.03)	(0.01)	0.10	2.30	(2.25)	4.32	(4.42)	12.60
TSM	1.89	0.31	0.10	0.98	1.94	(2.08)	4.81	(3.55)	14.10
UMGNF	1.53	(0.09)	0.00	(0.12)	0.00	0.00	3.02	(2.72)	9.41
ON	1.98	(0.23)	0.00	(0.05)	0.00	0.00	3.84	(4.77)	10.87
WMG	0.93	0.20	0.05	1.25	1.60	(1.02)	2.15	(1.34)	11.14

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