Correlation Between Astor Long/short and Amg Gwk
Can any of the company-specific risk be diversified away by investing in both Astor Long/short and Amg Gwk 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 Long/short and Amg Gwk 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 Amg Gwk Enhanced, you can compare the effects of market volatilities on Astor Long/short and Amg Gwk 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 Long/short with a short position of Amg Gwk. Check out your portfolio center. Please also check ongoing floating volatility patterns of Astor Long/short and Amg Gwk.
Diversification Opportunities for Astor Long/short and Amg Gwk
0.8 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Astor and Amg is 0.8. Overlapping area represents the amount of risk that can be diversified away by holding Astor Longshort Fund and Amg Gwk Enhanced in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Amg Gwk Enhanced and Astor Long/short 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 Amg Gwk. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Amg Gwk Enhanced has no effect on the direction of Astor Long/short i.e., Astor Long/short and Amg Gwk go up and down completely randomly.
Pair Corralation between Astor Long/short and Amg Gwk
If you would invest 1,392 in Astor Longshort Fund on August 29, 2024 and sell it today you would earn a total of 31.00 from holding Astor Longshort Fund or generate 2.23% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 4.55% |
| Values | Daily Returns |
Astor Longshort Fund vs. Amg Gwk Enhanced
Performance |
| Timeline |
| Astor Long/short |
| Amg Gwk Enhanced |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Astor Long/short and Amg Gwk Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Astor Long/short and Amg Gwk
The main advantage of trading using opposite Astor Long/short and Amg Gwk positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Astor Long/short position performs unexpectedly, Amg Gwk 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 Amg Gwk will offset losses from the drop in Amg Gwk's long position.| Astor Long/short vs. Pia High Yield | Astor Long/short vs. Pace High Yield | Astor Long/short vs. Prudential High Yield | Astor Long/short vs. Pimco High Yield |
| Amg Gwk vs. Angel Oak Ultrashort | Amg Gwk vs. Calvert Short Duration | Amg Gwk vs. Astor Longshort Fund | Amg Gwk vs. Rbc Short Duration |
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 Sync Your Broker module to sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors..
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