Correlation Between AssetMark Financial and Affiliated Managers
Can any of the company-specific risk be diversified away by investing in both AssetMark Financial and Affiliated Managers 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 AssetMark Financial and Affiliated Managers into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between AssetMark Financial Holdings and Affiliated Managers Group, you can compare the effects of market volatilities on AssetMark Financial and Affiliated Managers 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 AssetMark Financial with a short position of Affiliated Managers. Check out your portfolio center. Please also check ongoing floating volatility patterns of AssetMark Financial and Affiliated Managers.
Diversification Opportunities for AssetMark Financial and Affiliated Managers
-0.09 | Correlation Coefficient |
Good diversification
The 3 months correlation between AssetMark and Affiliated is -0.09. Overlapping area represents the amount of risk that can be diversified away by holding AssetMark Financial Holdings and Affiliated Managers Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Affiliated Managers and AssetMark Financial 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 AssetMark Financial Holdings are associated (or correlated) with Affiliated Managers. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Affiliated Managers has no effect on the direction of AssetMark Financial i.e., AssetMark Financial and Affiliated Managers go up and down completely randomly.
Pair Corralation between AssetMark Financial and Affiliated Managers
If you would invest (100.00) in AssetMark Financial Holdings on August 28, 2024 and sell it today you would earn a total of 100.00 from holding AssetMark Financial Holdings or generate -100.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
AssetMark Financial Holdings vs. Affiliated Managers Group
Performance |
| Timeline |
| AssetMark Financial |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| Affiliated Managers |
AssetMark Financial and Affiliated Managers Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with AssetMark Financial and Affiliated Managers
The main advantage of trading using opposite AssetMark Financial and Affiliated Managers positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if AssetMark Financial position performs unexpectedly, Affiliated Managers 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 Affiliated Managers will offset losses from the drop in Affiliated Managers' long position.| AssetMark Financial vs. Abrdn Emerging Markets | AssetMark Financial vs. DWS Municipal Income | AssetMark Financial vs. Blackrock Muni Intermediate | AssetMark Financial vs. Blackrock Muniyield |
| Affiliated Managers vs. Brightsphere Investment Group | Affiliated Managers vs. Franklin Templeton Limited | Affiliated Managers vs. Blackrock Muni Intermediate | Affiliated Managers vs. Munivest Fund |
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 Content Syndication module to quickly integrate customizable finance content to your own investment portal.
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