Correlation Between Astor Longshort and Western Asset
Can any of the company-specific risk be diversified away by investing in both Astor Longshort and Western Asset 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 Western Asset 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 Western Asset Short, you can compare the effects of market volatilities on Astor Longshort and Western Asset 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 Western Asset. Check out your portfolio center. Please also check ongoing floating volatility patterns of Astor Longshort and Western Asset.
Diversification Opportunities for Astor Longshort and Western Asset
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Astor and Western is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Astor Longshort Fund and Western Asset Short in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Western Asset Short 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 Western Asset. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Western Asset Short has no effect on the direction of Astor Longshort i.e., Astor Longshort and Western Asset go up and down completely randomly.
Pair Corralation between Astor Longshort and Western Asset
If you would invest 1,147 in Astor Longshort Fund on September 12, 2024 and sell it today you would earn a total of 280.00 from holding Astor Longshort Fund or generate 24.41% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Astor Longshort Fund vs. Western Asset Short
Performance |
| Timeline |
| Astor Longshort |
| Western Asset Short |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Astor Longshort and Western Asset Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Astor Longshort and Western Asset
The main advantage of trading using opposite Astor Longshort and Western Asset positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Astor Longshort position performs unexpectedly, Western Asset 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 Western Asset will offset losses from the drop in Western Asset'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 |
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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 Manager module to state of the art Portfolio Manager to monitor and improve performance of your invested capital.
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