Correlation Between Asg Managed and Valic Company
Can any of the company-specific risk be diversified away by investing in both Asg Managed and Valic Company 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 Asg Managed and Valic Company into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Asg Managed Futures and Valic Company I, you can compare the effects of market volatilities on Asg Managed and Valic Company 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 Asg Managed with a short position of Valic Company. Check out your portfolio center. Please also check ongoing floating volatility patterns of Asg Managed and Valic Company.
Diversification Opportunities for Asg Managed and Valic Company
-0.39 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Asg and Valic is -0.39. Overlapping area represents the amount of risk that can be diversified away by holding Asg Managed Futures and Valic Company I in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Valic Company I and Asg Managed 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 Asg Managed Futures are associated (or correlated) with Valic Company. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Valic Company I has no effect on the direction of Asg Managed i.e., Asg Managed and Valic Company go up and down completely randomly.
Pair Corralation between Asg Managed and Valic Company
Assuming the 90 days horizon Asg Managed Futures is expected to under-perform the Valic Company. But the mutual fund apears to be less risky and, when comparing its historical volatility, Asg Managed Futures is 1.02 times less risky than Valic Company. The mutual fund trades about -0.02 of its potential returns per unit of risk. The Valic Company I is currently generating about 0.09 of returns per unit of risk over similar time horizon. If you would invest 1,043 in Valic Company I on August 31, 2024 and sell it today you would earn a total of 276.00 from holding Valic Company I or generate 26.46% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Asg Managed Futures vs. Valic Company I
Performance |
| Timeline |
| Asg Managed Futures |
| Valic Company I |
Asg Managed and Valic Company Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Asg Managed and Valic Company
The main advantage of trading using opposite Asg Managed and Valic Company positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Asg Managed position performs unexpectedly, Valic Company 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 Valic Company will offset losses from the drop in Valic Company's long position.| Asg Managed vs. Aqr Managed Futures | Asg Managed vs. Pimco Trends Managed | Asg Managed vs. Pimco Trends Managed | Asg Managed vs. American Beacon Ahl |
| Valic Company vs. Nationwide Inflation Protected Securities | Valic Company vs. Lord Abbett Inflation | Valic Company vs. Asg Managed Futures | Valic Company vs. Aqr Managed Futures |
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 Economic Indicators module to top statistical indicators that provide insights into how an economy is performing.
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