Correlation Between Artisan Thematic and Timothy Plan
Can any of the company-specific risk be diversified away by investing in both Artisan Thematic and Timothy Plan 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 Timothy Plan 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 Timothy Plan Defensive, you can compare the effects of market volatilities on Artisan Thematic and Timothy Plan 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 Timothy Plan. Check out your portfolio center. Please also check ongoing floating volatility patterns of Artisan Thematic and Timothy Plan.
Diversification Opportunities for Artisan Thematic and Timothy Plan
0.11 | Correlation Coefficient |
Average diversification
The 3 months correlation between Artisan and Timothy is 0.11. Overlapping area represents the amount of risk that can be diversified away by holding Artisan Thematic Fund and Timothy Plan Defensive in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Timothy Plan Defensive 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 Timothy Plan. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Timothy Plan Defensive has no effect on the direction of Artisan Thematic i.e., Artisan Thematic and Timothy Plan go up and down completely randomly.
Pair Corralation between Artisan Thematic and Timothy Plan
Assuming the 90 days horizon Artisan Thematic Fund is expected to generate 2.59 times more return on investment than Timothy Plan. However, Artisan Thematic is 2.59 times more volatile than Timothy Plan Defensive. It trades about 0.09 of its potential returns per unit of risk. Timothy Plan Defensive is currently generating about 0.12 per unit of risk. If you would invest 2,230 in Artisan Thematic Fund on September 12, 2024 and sell it today you would earn a total of 287.00 from holding Artisan Thematic Fund or generate 12.87% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Artisan Thematic Fund vs. Timothy Plan Defensive
Performance |
| Timeline |
| Artisan Thematic |
| Timothy Plan Defensive |
Artisan Thematic and Timothy Plan Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Artisan Thematic and Timothy Plan
The main advantage of trading using opposite Artisan Thematic and Timothy Plan positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Artisan Thematic position performs unexpectedly, Timothy Plan 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 Timothy Plan will offset losses from the drop in Timothy Plan's long position.| Artisan Thematic vs. Huber Capital Diversified | Artisan Thematic vs. Western Asset Diversified | Artisan Thematic vs. Jhancock Diversified Macro | Artisan Thematic vs. T Rowe Price |
| Timothy Plan vs. Strategic Allocation Servative | Timothy Plan vs. Strategic Allocation Aggressive | Timothy Plan vs. Value Fund Investor | Timothy Plan vs. International Growth Fund |
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.
Other Complementary Tools
| Idea Optimizer Use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio | |
| Price Exposure Probability Analyze equity upside and downside potential for a given time horizon across multiple markets | |
| Theme Ratings Determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
| Alpha Finder Use alpha and beta coefficients to find investment opportunities after accounting for the risk | |
| CEOs Directory Screen CEOs from public companies around the world |