Correlation Between Accelerate Arbitrage and AGF GLOBAL
Can any of the company-specific risk be diversified away by investing in both Accelerate Arbitrage and AGF GLOBAL 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 Accelerate Arbitrage and AGF GLOBAL into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Accelerate Arbitrage and AGF GLOBAL OPPORTUNITIES, you can compare the effects of market volatilities on Accelerate Arbitrage and AGF GLOBAL 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 Accelerate Arbitrage with a short position of AGF GLOBAL. Check out your portfolio center. Please also check ongoing floating volatility patterns of Accelerate Arbitrage and AGF GLOBAL.
Diversification Opportunities for Accelerate Arbitrage and AGF GLOBAL
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Accelerate and AGF is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Accelerate Arbitrage and AGF GLOBAL OPPORTUNITIES in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on AGF GLOBAL OPPORTUNITIES and Accelerate Arbitrage 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 Accelerate Arbitrage are associated (or correlated) with AGF GLOBAL. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of AGF GLOBAL OPPORTUNITIES has no effect on the direction of Accelerate Arbitrage i.e., Accelerate Arbitrage and AGF GLOBAL go up and down completely randomly.
Pair Corralation between Accelerate Arbitrage and AGF GLOBAL
If you would invest 2,508 in Accelerate Arbitrage on September 3, 2024 and sell it today you would earn a total of 117.00 from holding Accelerate Arbitrage or generate 4.67% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Accelerate Arbitrage vs. AGF GLOBAL OPPORTUNITIES
Performance |
| Timeline |
| Accelerate Arbitrage |
| AGF GLOBAL OPPORTUNITIES |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Accelerate Arbitrage and AGF GLOBAL Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Accelerate Arbitrage and AGF GLOBAL
The main advantage of trading using opposite Accelerate Arbitrage and AGF GLOBAL positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Accelerate Arbitrage position performs unexpectedly, AGF GLOBAL 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 AGF GLOBAL will offset losses from the drop in AGF GLOBAL's long position.The idea behind Accelerate Arbitrage and AGF GLOBAL OPPORTUNITIES 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.
| AGF GLOBAL vs. AGF Global Sustainable | AGF GLOBAL vs. NBI High Yield | AGF GLOBAL vs. NBI Unconstrained Fixed | AGF GLOBAL vs. Mackenzie Developed ex North |
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 Idea Optimizer module to use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio .
Other Complementary Tools
| Global Correlations Find global opportunities by holding instruments from different markets | |
| Portfolio Rebalancing Analyze risk-adjusted returns against different time horizons to find asset-allocation targets | |
| Insider Screener Find insiders across different sectors to evaluate their impact on performance | |
| Headlines Timeline Stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity | |
| Sectors List of equity sectors categorizing publicly traded companies based on their primary business activities |