Correlation Between Aqr Managed and Janus Henderson

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Can any of the company-specific risk be diversified away by investing in both Aqr Managed and Janus Henderson 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 Aqr Managed and Janus Henderson into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Aqr Managed Futures and Janus Henderson Growth, you can compare the effects of market volatilities on Aqr Managed and Janus Henderson 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 Aqr Managed with a short position of Janus Henderson. Check out your portfolio center. Please also check ongoing floating volatility patterns of Aqr Managed and Janus Henderson.

Diversification Opportunities for Aqr Managed and Janus Henderson

0.0
  Correlation Coefficient

Pay attention - limited upside

The 3 months correlation between Aqr and Janus is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Aqr Managed Futures and Janus Henderson Growth in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Janus Henderson Growth and Aqr Managed 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 Aqr Managed Futures are associated (or correlated) with Janus Henderson. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Janus Henderson Growth has no effect on the direction of Aqr Managed i.e., Aqr Managed and Janus Henderson go up and down completely randomly.

Pair Corralation between Aqr Managed and Janus Henderson

If you would invest  792.00  in Aqr Managed Futures on September 12, 2024 and sell it today you would earn a total of  82.00  from holding Aqr Managed Futures or generate 10.35% return on investment over 90 days.
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy0.0%
ValuesDaily Returns

Aqr Managed Futures  vs.  Janus Henderson Growth

 Performance 
       Timeline  
Aqr Managed Futures 

Risk-Adjusted Performance

7 of 100

 
Weak
 
Strong
OK
Compared to the overall equity markets, risk-adjusted returns on investments in Aqr Managed Futures are ranked lower than 7 (%) of all funds and portfolios of funds over the last 90 days. In spite of fairly strong forward indicators, Aqr Managed is not utilizing all of its potentials. The current stock price disturbance, may contribute to short-term losses for the investors.
Janus Henderson Growth 

Risk-Adjusted Performance

0 of 100

 
Weak
 
Strong
Very Weak
Over the last 90 days Janus Henderson Growth has generated negative risk-adjusted returns adding no value to fund investors. In spite of fairly strong basic indicators, Janus Henderson is not utilizing all of its potentials. The current stock price disturbance, may contribute to short-term losses for the investors.

Aqr Managed and Janus Henderson Volatility Contrast

   Predicted Return Density   
       Returns  

Pair Trading with Aqr Managed and Janus Henderson

The main advantage of trading using opposite Aqr Managed and Janus Henderson positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Aqr Managed position performs unexpectedly, Janus Henderson 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 Janus Henderson will offset losses from the drop in Janus Henderson's long position.
The idea behind Aqr Managed Futures and Janus Henderson Growth 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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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 USA ETFs module to find actively traded Exchange Traded Funds (ETF) in USA.

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