Correlation Between Ab Impact and Segall Bryant
Can any of the company-specific risk be diversified away by investing in both Ab Impact and Segall Bryant 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 Ab Impact and Segall Bryant into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Ab Impact Municipal and Segall Bryant Hamill, you can compare the effects of market volatilities on Ab Impact and Segall Bryant 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 Ab Impact with a short position of Segall Bryant. Check out your portfolio center. Please also check ongoing floating volatility patterns of Ab Impact and Segall Bryant.
Diversification Opportunities for Ab Impact and Segall Bryant
0.37 | Correlation Coefficient |
Weak diversification
The 3 months correlation between ABIMX and Segall is 0.37. Overlapping area represents the amount of risk that can be diversified away by holding Ab Impact Municipal and Segall Bryant Hamill in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Segall Bryant Hamill and Ab Impact 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 Ab Impact Municipal are associated (or correlated) with Segall Bryant. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Segall Bryant Hamill has no effect on the direction of Ab Impact i.e., Ab Impact and Segall Bryant go up and down completely randomly.
Pair Corralation between Ab Impact and Segall Bryant
Assuming the 90 days horizon Ab Impact Municipal is expected to generate 3.49 times more return on investment than Segall Bryant. However, Ab Impact is 3.49 times more volatile than Segall Bryant Hamill. It trades about 0.21 of its potential returns per unit of risk. Segall Bryant Hamill is currently generating about 0.0 per unit of risk. If you would invest 982.00 in Ab Impact Municipal on September 1, 2024 and sell it today you would earn a total of 17.00 from holding Ab Impact Municipal or generate 1.73% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 95.45% |
| Values | Daily Returns |
Ab Impact Municipal vs. Segall Bryant Hamill
Performance |
| Timeline |
| Ab Impact Municipal |
| Segall Bryant Hamill |
Ab Impact and Segall Bryant Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Ab Impact and Segall Bryant
The main advantage of trading using opposite Ab Impact and Segall Bryant positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Ab Impact position performs unexpectedly, Segall Bryant 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 Segall Bryant will offset losses from the drop in Segall Bryant's long position.| Ab Impact vs. Barings Emerging Markets | Ab Impact vs. Artisan Emerging Markets | Ab Impact vs. Black Oak Emerging | Ab Impact vs. Ashmore Emerging Markets |
| Segall Bryant vs. Segall Bryant Hamill | Segall Bryant vs. Segall Bryant Hamill | Segall Bryant vs. Segall Bryant Hamill | Segall Bryant vs. Segall Bryant Hamill |
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 Analyst Advice module to analyst recommendations and target price estimates broken down by several categories.
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