Correlation Between Allan Gray and Assetmix
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By analyzing existing cross correlation between Allan Gray Equity and Assetmix Ci Balanced, you can compare the effects of market volatilities on Allan Gray and Assetmix 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 Allan Gray with a short position of Assetmix. Check out your portfolio center. Please also check ongoing floating volatility patterns of Allan Gray and Assetmix.
Diversification Opportunities for Allan Gray and Assetmix
0.75 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Allan and Assetmix is 0.75. Overlapping area represents the amount of risk that can be diversified away by holding Allan Gray Equity and Assetmix Ci Balanced in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Assetmix Ci Balanced and Allan Gray 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 Allan Gray Equity are associated (or correlated) with Assetmix. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Assetmix Ci Balanced has no effect on the direction of Allan Gray i.e., Allan Gray and Assetmix go up and down completely randomly.
Pair Corralation between Allan Gray and Assetmix
Assuming the 90 days trading horizon Allan Gray Equity is expected to under-perform the Assetmix. In addition to that, Allan Gray is 1.98 times more volatile than Assetmix Ci Balanced. It trades about -0.07 of its total potential returns per unit of risk. Assetmix Ci Balanced is currently generating about 0.16 per unit of volatility. If you would invest 159.00 in Assetmix Ci Balanced on September 3, 2024 and sell it today you would earn a total of 2.00 from holding Assetmix Ci Balanced or generate 1.26% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 95.24% |
| Values | Daily Returns |
Allan Gray Equity vs. Assetmix Ci Balanced
Performance |
| Timeline |
| Allan Gray Equity |
| Assetmix Ci Balanced |
Allan Gray and Assetmix Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Allan Gray and Assetmix
The main advantage of trading using opposite Allan Gray and Assetmix positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Allan Gray position performs unexpectedly, Assetmix 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 Assetmix will offset losses from the drop in Assetmix's long position.| Allan Gray vs. 4d Bci Moderate | Allan Gray vs. Coronation Global Optimum | Allan Gray vs. Discovery Aggressive Dynamic | Allan Gray vs. Bci Best Blend |
| Assetmix vs. Sasol Ltd Bee | Assetmix vs. Centaur Bci Balanced | Assetmix vs. Sabvest Capital | Assetmix vs. Growthpoint Properties |
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 Money Managers module to screen money managers from public funds and ETFs managed around the world.
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