Correlation Between ANT and Natixis Oakmark
Can any of the company-specific risk be diversified away by investing in both ANT and Natixis Oakmark 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 ANT and Natixis Oakmark into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between ANT and Natixis Oakmark International, you can compare the effects of market volatilities on ANT and Natixis Oakmark 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 ANT with a short position of Natixis Oakmark. Check out your portfolio center. Please also check ongoing floating volatility patterns of ANT and Natixis Oakmark.
Diversification Opportunities for ANT and Natixis Oakmark
0.37 | Correlation Coefficient |
Weak diversification
The 3 months correlation between ANT and Natixis is 0.37. Overlapping area represents the amount of risk that can be diversified away by holding ANT and Natixis Oakmark International in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Natixis Oakmark Inte and ANT 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 ANT are associated (or correlated) with Natixis Oakmark. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Natixis Oakmark Inte has no effect on the direction of ANT i.e., ANT and Natixis Oakmark go up and down completely randomly.
Pair Corralation between ANT and Natixis Oakmark
Assuming the 90 days trading horizon ANT is expected to generate 18.53 times more return on investment than Natixis Oakmark. However, ANT is 18.53 times more volatile than Natixis Oakmark International. It trades about 0.08 of its potential returns per unit of risk. Natixis Oakmark International is currently generating about 0.42 per unit of risk. If you would invest 147.00 in ANT on November 2, 2024 and sell it today you would earn a total of 0.00 from holding ANT or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 90.48% |
| Values | Daily Returns |
ANT vs. Natixis Oakmark International
Performance |
| Timeline |
| ANT |
| Natixis Oakmark Inte |
ANT and Natixis Oakmark Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with ANT and Natixis Oakmark
The main advantage of trading using opposite ANT and Natixis Oakmark positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if ANT position performs unexpectedly, Natixis Oakmark 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 Natixis Oakmark will offset losses from the drop in Natixis Oakmark's long position.The idea behind ANT and Natixis Oakmark International pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.| Natixis Oakmark vs. Jp Morgan Smartretirement | Natixis Oakmark vs. Franklin Lifesmart Retirement | Natixis Oakmark vs. Voya Target Retirement | Natixis Oakmark vs. Voya Retirement Moderate |
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 Stock Screener module to find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook..
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