Correlation Between Artisan Partners and Astoria Financial
Can any of the company-specific risk be diversified away by investing in both Artisan Partners and Astoria Financial 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 Artisan Partners and Astoria Financial into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Artisan Partners Asset and Astoria Financial Corp, you can compare the effects of market volatilities on Artisan Partners and Astoria Financial 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 Artisan Partners with a short position of Astoria Financial. Check out your portfolio center. Please also check ongoing floating volatility patterns of Artisan Partners and Astoria Financial.
Diversification Opportunities for Artisan Partners and Astoria Financial
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Artisan and Astoria is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Artisan Partners Asset and Astoria Financial Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Astoria Financial Corp and Artisan Partners 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 Artisan Partners Asset are associated (or correlated) with Astoria Financial. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Astoria Financial Corp has no effect on the direction of Artisan Partners i.e., Artisan Partners and Astoria Financial go up and down completely randomly.
Pair Corralation between Artisan Partners and Astoria Financial
If you would invest 2,639 in Artisan Partners Asset on September 14, 2024 and sell it today you would earn a total of 2,135 from holding Artisan Partners Asset or generate 80.9% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Artisan Partners Asset vs. Astoria Financial Corp
Performance |
| Timeline |
| Artisan Partners Asset |
| Astoria Financial Corp |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Artisan Partners and Astoria Financial Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Artisan Partners and Astoria Financial
The main advantage of trading using opposite Artisan Partners and Astoria Financial positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Artisan Partners position performs unexpectedly, Astoria Financial 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 Astoria Financial will offset losses from the drop in Astoria Financial's long position.| Artisan Partners vs. Visa Class A | Artisan Partners vs. Diamond Hill Investment | Artisan Partners vs. Distoken Acquisition | Artisan Partners vs. AllianceBernstein Holding LP |
| Astoria Financial vs. NextNav Warrant | Astoria Financial vs. RCI Hospitality Holdings | Astoria Financial vs. CAVA Group, | Astoria Financial vs. Biglari Holdings |
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 Portfolio Suggestion module to get suggestions outside of your existing asset allocation including your own model portfolios.
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