Correlation Between Astor Longshort and International Growth
Can any of the company-specific risk be diversified away by investing in both Astor Longshort and International Growth 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 Astor Longshort and International Growth into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Astor Longshort Fund and International Growth And, you can compare the effects of market volatilities on Astor Longshort and International Growth 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 Astor Longshort with a short position of International Growth. Check out your portfolio center. Please also check ongoing floating volatility patterns of Astor Longshort and International Growth.
Diversification Opportunities for Astor Longshort and International Growth
-0.49 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Astor and International is -0.49. Overlapping area represents the amount of risk that can be diversified away by holding Astor Longshort Fund and International Growth And in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on International Growth And and Astor Longshort 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 Astor Longshort Fund are associated (or correlated) with International Growth. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of International Growth And has no effect on the direction of Astor Longshort i.e., Astor Longshort and International Growth go up and down completely randomly.
Pair Corralation between Astor Longshort and International Growth
Assuming the 90 days horizon Astor Longshort Fund is expected to generate 0.48 times more return on investment than International Growth. However, Astor Longshort Fund is 2.06 times less risky than International Growth. It trades about 0.14 of its potential returns per unit of risk. International Growth And is currently generating about 0.05 per unit of risk. If you would invest 1,190 in Astor Longshort Fund on September 12, 2024 and sell it today you would earn a total of 237.00 from holding Astor Longshort Fund or generate 19.92% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 99.73% |
| Values | Daily Returns |
Astor Longshort Fund vs. International Growth And
Performance |
| Timeline |
| Astor Longshort |
| International Growth And |
Astor Longshort and International Growth Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Astor Longshort and International Growth
The main advantage of trading using opposite Astor Longshort and International Growth positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Astor Longshort position performs unexpectedly, International Growth 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 International Growth will offset losses from the drop in International Growth's long position.| Astor Longshort vs. SCOR PK | Astor Longshort vs. Morningstar Unconstrained Allocation | Astor Longshort vs. Via Renewables | Astor Longshort vs. Bondbloxx ETF Trust |
| International Growth vs. Qs Growth Fund | International Growth vs. Mid Cap Growth | International Growth vs. Qs Moderate Growth | International Growth vs. L Abbett Growth |
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 Commodity Directory module to find actively traded commodities issued by global exchanges.
Other Complementary Tools
| Piotroski F Score Get Piotroski F Score based on the binary analysis strategy of nine different fundamentals | |
| Idea Optimizer Use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio | |
| Portfolio Analyzer Portfolio analysis module that provides access to portfolio diagnostics and optimization engine | |
| Bollinger Bands Use Bollinger Bands indicator to analyze target price for a given investing horizon | |
| Instant Ratings Determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance |