Correlation Between Artisan Emerging and Loomis Sayles
Can any of the company-specific risk be diversified away by investing in both Artisan Emerging and Loomis Sayles 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 Emerging and Loomis Sayles into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Artisan Emerging Markets and Loomis Sayles Global, you can compare the effects of market volatilities on Artisan Emerging and Loomis Sayles 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 Emerging with a short position of Loomis Sayles. Check out your portfolio center. Please also check ongoing floating volatility patterns of Artisan Emerging and Loomis Sayles.
Diversification Opportunities for Artisan Emerging and Loomis Sayles
-0.65 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Artisan and Loomis is -0.65. Overlapping area represents the amount of risk that can be diversified away by holding Artisan Emerging Markets and Loomis Sayles Global in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Loomis Sayles Global and Artisan Emerging 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 Emerging Markets are associated (or correlated) with Loomis Sayles. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Loomis Sayles Global has no effect on the direction of Artisan Emerging i.e., Artisan Emerging and Loomis Sayles go up and down completely randomly.
Pair Corralation between Artisan Emerging and Loomis Sayles
Assuming the 90 days horizon Artisan Emerging Markets is expected to generate 0.69 times more return on investment than Loomis Sayles. However, Artisan Emerging Markets is 1.46 times less risky than Loomis Sayles. It trades about -0.03 of its potential returns per unit of risk. Loomis Sayles Global is currently generating about -0.07 per unit of risk. If you would invest 1,032 in Artisan Emerging Markets on September 13, 2024 and sell it today you would lose (4.00) from holding Artisan Emerging Markets or give up 0.39% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 97.67% |
| Values | Daily Returns |
Artisan Emerging Markets vs. Loomis Sayles Global
Performance |
| Timeline |
| Artisan Emerging Markets |
| Loomis Sayles Global |
Artisan Emerging and Loomis Sayles Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Artisan Emerging and Loomis Sayles
The main advantage of trading using opposite Artisan Emerging and Loomis Sayles positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Artisan Emerging position performs unexpectedly, Loomis Sayles 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 Loomis Sayles will offset losses from the drop in Loomis Sayles' long position.| Artisan Emerging vs. Artisan Value Income | Artisan Emerging vs. Artisan Developing World | Artisan Emerging vs. Artisan Thematic Fund | Artisan Emerging vs. Artisan Small Cap |
| Loomis Sayles vs. Loomis Sayles Bond | Loomis Sayles vs. T Rowe Price | Loomis Sayles vs. Westcore Plus Bond | Loomis Sayles vs. Aberdeen Global High |
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 File Import module to quickly import all of your third-party portfolios from your local drive in csv format.
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