Correlation Between Astor Longshort and John Hancock
Can any of the company-specific risk be diversified away by investing in both Astor Longshort and John Hancock 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 John Hancock 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 John Hancock Money, you can compare the effects of market volatilities on Astor Longshort and John Hancock 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 John Hancock. Check out your portfolio center. Please also check ongoing floating volatility patterns of Astor Longshort and John Hancock.
Diversification Opportunities for Astor Longshort and John Hancock
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Astor and John is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Astor Longshort Fund and John Hancock Money in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on John Hancock Money 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 John Hancock. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of John Hancock Money has no effect on the direction of Astor Longshort i.e., Astor Longshort and John Hancock go up and down completely randomly.
Pair Corralation between Astor Longshort and John Hancock
If you would invest 1,408 in Astor Longshort Fund on September 20, 2024 and sell it today you would earn a total of 9.00 from holding Astor Longshort Fund or generate 0.64% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Astor Longshort Fund vs. John Hancock Money
Performance |
| Timeline |
| Astor Longshort |
| John Hancock Money |
Astor Longshort and John Hancock Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Astor Longshort and John Hancock
The main advantage of trading using opposite Astor Longshort and John Hancock positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Astor Longshort position performs unexpectedly, John Hancock 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 John Hancock will offset losses from the drop in John Hancock's long position.| Astor Longshort vs. L Abbett Fundamental | Astor Longshort vs. Nasdaq 100 Index Fund | Astor Longshort vs. Semiconductor Ultrasector Profund | Astor Longshort vs. Falcon Focus Scv |
| John Hancock vs. Prudential Short Duration | John Hancock vs. Lord Abbett Short | John Hancock vs. Astor Longshort Fund | John Hancock vs. Alpine Ultra Short |
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 Top Crypto Exchanges module to search and analyze digital assets across top global cryptocurrency exchanges.
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