Correlation Between Artisan Thematic and Saat Aggressive
Can any of the company-specific risk be diversified away by investing in both Artisan Thematic and Saat Aggressive 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 Saat Aggressive 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 Saat Aggressive Strategy, you can compare the effects of market volatilities on Artisan Thematic and Saat Aggressive 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 Saat Aggressive. Check out your portfolio center. Please also check ongoing floating volatility patterns of Artisan Thematic and Saat Aggressive.
Diversification Opportunities for Artisan Thematic and Saat Aggressive
0.9 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Artisan and Saat is 0.9. Overlapping area represents the amount of risk that can be diversified away by holding Artisan Thematic Fund and Saat Aggressive Strategy in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Saat Aggressive Strategy 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 Saat Aggressive. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Saat Aggressive Strategy has no effect on the direction of Artisan Thematic i.e., Artisan Thematic and Saat Aggressive go up and down completely randomly.
Pair Corralation between Artisan Thematic and Saat Aggressive
Assuming the 90 days horizon Artisan Thematic Fund is expected to generate 1.99 times more return on investment than Saat Aggressive. However, Artisan Thematic is 1.99 times more volatile than Saat Aggressive Strategy. It trades about 0.42 of its potential returns per unit of risk. Saat Aggressive Strategy is currently generating about 0.34 per unit of risk. If you would invest 2,330 in Artisan Thematic Fund on September 3, 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 | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Artisan Thematic Fund vs. Saat Aggressive Strategy
Performance |
| Timeline |
| Artisan Thematic |
| Saat Aggressive Strategy |
Artisan Thematic and Saat Aggressive Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Artisan Thematic and Saat Aggressive
The main advantage of trading using opposite Artisan Thematic and Saat Aggressive positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Artisan Thematic position performs unexpectedly, Saat Aggressive 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 Saat Aggressive will offset losses from the drop in Saat Aggressive's long position.| Artisan Thematic vs. Gmo High Yield | Artisan Thematic vs. Maryland Tax Free Bond | Artisan Thematic vs. T Rowe Price | Artisan Thematic vs. California Bond Fund |
| Saat Aggressive vs. Artisan Thematic Fund | Saat Aggressive vs. Ab Small Cap | Saat Aggressive vs. Ab Value Fund | Saat Aggressive vs. Balanced Fund Investor |
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 Piotroski F Score module to get Piotroski F Score based on the binary analysis strategy of nine different fundamentals.
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