Correlation Between Artisan Thematic and Credit Suisse
Can any of the company-specific risk be diversified away by investing in both Artisan Thematic and Credit Suisse 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 Credit Suisse 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 Credit Suisse Floating, you can compare the effects of market volatilities on Artisan Thematic and Credit Suisse 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 Credit Suisse. Check out your portfolio center. Please also check ongoing floating volatility patterns of Artisan Thematic and Credit Suisse.
Diversification Opportunities for Artisan Thematic and Credit Suisse
0.57 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Artisan and Credit is 0.57. Overlapping area represents the amount of risk that can be diversified away by holding Artisan Thematic Fund and Credit Suisse Floating in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Credit Suisse Floating 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 Credit Suisse. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Credit Suisse Floating has no effect on the direction of Artisan Thematic i.e., Artisan Thematic and Credit Suisse go up and down completely randomly.
Pair Corralation between Artisan Thematic and Credit Suisse
Assuming the 90 days horizon Artisan Thematic Fund is expected to generate 5.68 times more return on investment than Credit Suisse. However, Artisan Thematic is 5.68 times more volatile than Credit Suisse Floating. It trades about 0.39 of its potential returns per unit of risk. Credit Suisse Floating is currently generating about -0.04 per unit of risk. If you would invest 2,330 in Artisan Thematic Fund on September 5, 2024 and sell it today you would earn a total of 187.00 from holding Artisan Thematic Fund or generate 8.03% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Artisan Thematic Fund vs. Credit Suisse Floating
Performance |
| Timeline |
| Artisan Thematic |
| Credit Suisse Floating |
Artisan Thematic and Credit Suisse Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Artisan Thematic and Credit Suisse
The main advantage of trading using opposite Artisan Thematic and Credit Suisse positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Artisan Thematic position performs unexpectedly, Credit Suisse 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 Credit Suisse will offset losses from the drop in Credit Suisse's long position.| Artisan Thematic vs. Touchstone Premium Yield | Artisan Thematic vs. Legg Mason Partners | Artisan Thematic vs. Blrc Sgy Mnp | Artisan Thematic vs. Federated Pennsylvania Municipal |
| Credit Suisse vs. Auer Growth Fund | Credit Suisse vs. Artisan Thematic Fund | Credit Suisse vs. Eic Value Fund | Credit Suisse vs. Omni Small Cap Value |
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 FinTech Suite module to use AI to screen and filter profitable investment opportunities.
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