Correlation Between Aqr Managed and Mainstay Retirement
Can any of the company-specific risk be diversified away by investing in both Aqr Managed and Mainstay Retirement 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 Mainstay Retirement 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 Mainstay Retirement 2040, you can compare the effects of market volatilities on Aqr Managed and Mainstay Retirement 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 Mainstay Retirement. Check out your portfolio center. Please also check ongoing floating volatility patterns of Aqr Managed and Mainstay Retirement.
Diversification Opportunities for Aqr Managed and Mainstay Retirement
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Aqr and Mainstay is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Aqr Managed Futures and Mainstay Retirement 2040 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Mainstay Retirement 2040 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 Mainstay Retirement. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Mainstay Retirement 2040 has no effect on the direction of Aqr Managed i.e., Aqr Managed and Mainstay Retirement go up and down completely randomly.
Pair Corralation between Aqr Managed and Mainstay Retirement
If you would invest 856.00 in Aqr Managed Futures on September 12, 2024 and sell it today you would earn a total of 18.00 from holding Aqr Managed Futures or generate 2.1% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Aqr Managed Futures vs. Mainstay Retirement 2040
Performance |
| Timeline |
| Aqr Managed Futures |
| Mainstay Retirement 2040 |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Aqr Managed and Mainstay Retirement Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Aqr Managed and Mainstay Retirement
The main advantage of trading using opposite Aqr Managed and Mainstay Retirement positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Aqr Managed position performs unexpectedly, Mainstay Retirement 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 Mainstay Retirement will offset losses from the drop in Mainstay Retirement's long position.| Aqr Managed vs. Davis Financial Fund | Aqr Managed vs. Angel Oak Financial | Aqr Managed vs. Icon Financial Fund | Aqr Managed vs. Goldman Sachs Financial |
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 Analyzer module to portfolio analysis module that provides access to portfolio diagnostics and optimization engine.
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