Correlation Between Aama Income and 87612EBQ8
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By analyzing existing cross correlation between Aama Income Fund and TGT 44 15 JAN 33, you can compare the effects of market volatilities on Aama Income and 87612EBQ8 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 Aama Income with a short position of 87612EBQ8. Check out your portfolio center. Please also check ongoing floating volatility patterns of Aama Income and 87612EBQ8.
Diversification Opportunities for Aama Income and 87612EBQ8
-0.54 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Aama and 87612EBQ8 is -0.54. Overlapping area represents the amount of risk that can be diversified away by holding Aama Income Fund and TGT 44 15 JAN 33 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on TGT 44 15 and Aama Income 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 Aama Income Fund are associated (or correlated) with 87612EBQ8. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of TGT 44 15 has no effect on the direction of Aama Income i.e., Aama Income and 87612EBQ8 go up and down completely randomly.
Pair Corralation between Aama Income and 87612EBQ8
Assuming the 90 days horizon Aama Income Fund is expected to generate 0.21 times more return on investment than 87612EBQ8. However, Aama Income Fund is 4.71 times less risky than 87612EBQ8. It trades about 0.1 of its potential returns per unit of risk. TGT 44 15 JAN 33 is currently generating about -0.01 per unit of risk. If you would invest 2,244 in Aama Income Fund on October 21, 2024 and sell it today you would earn a total of 150.00 from holding Aama Income Fund or generate 6.68% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 96.17% |
| Values | Daily Returns |
Aama Income Fund vs. TGT 44 15 JAN 33
Performance |
| Timeline |
| Aama Income Fund |
| TGT 44 15 |
Aama Income and 87612EBQ8 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Aama Income and 87612EBQ8
The main advantage of trading using opposite Aama Income and 87612EBQ8 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Aama Income position performs unexpectedly, 87612EBQ8 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 87612EBQ8 will offset losses from the drop in 87612EBQ8's long position.| Aama Income vs. Aama Equity Fund | Aama Income vs. Prudential Jennison International | Aama Income vs. Fidelity New Markets | Aama Income vs. Ohio Variable College |
| 87612EBQ8 vs. Cedar Realty Trust | 87612EBQ8 vs. PennantPark Floating Rate | 87612EBQ8 vs. Alternative Investment | 87612EBQ8 vs. BBB Foods |
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 Bollinger Bands module to use Bollinger Bands indicator to analyze target price for a given investing horizon.
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