Correlation Between Artisan Thematic and Ashmore Emerging
Can any of the company-specific risk be diversified away by investing in both Artisan Thematic and Ashmore Emerging 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 Thematic and Ashmore Emerging into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Artisan Thematic Fund and Ashmore Emerging Markets, you can compare the effects of market volatilities on Artisan Thematic and Ashmore Emerging 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 Thematic with a short position of Ashmore Emerging. Check out your portfolio center. Please also check ongoing floating volatility patterns of Artisan Thematic and Ashmore Emerging.
Diversification Opportunities for Artisan Thematic and Ashmore Emerging
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Artisan and Ashmore is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Artisan Thematic Fund and Ashmore Emerging Markets in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Ashmore Emerging Markets and Artisan Thematic 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 Thematic Fund are associated (or correlated) with Ashmore Emerging. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Ashmore Emerging Markets has no effect on the direction of Artisan Thematic i.e., Artisan Thematic and Ashmore Emerging go up and down completely randomly.
Pair Corralation between Artisan Thematic and Ashmore Emerging
If you would invest 2,330 in Artisan Thematic Fund on September 4, 2024 and sell it today you would earn a total of 193.00 from holding Artisan Thematic Fund or generate 8.28% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Artisan Thematic Fund vs. Ashmore Emerging Markets
Performance |
| Timeline |
| Artisan Thematic |
| Ashmore Emerging Markets |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Artisan Thematic and Ashmore Emerging Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Artisan Thematic and Ashmore Emerging
The main advantage of trading using opposite Artisan Thematic and Ashmore Emerging positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Artisan Thematic position performs unexpectedly, Ashmore Emerging 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 Ashmore Emerging will offset losses from the drop in Ashmore Emerging's long position.The idea behind Artisan Thematic Fund and Ashmore Emerging Markets 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.
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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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