Correlation Between Astor Long/short and Siit Large
Can any of the company-specific risk be diversified away by investing in both Astor Long/short and Siit Large 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 Siit Large 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 Siit Large Cap, you can compare the effects of market volatilities on Astor Long/short and Siit Large 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 Siit Large. Check out your portfolio center. Please also check ongoing floating volatility patterns of Astor Long/short and Siit Large.
Diversification Opportunities for Astor Long/short and Siit Large
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Astor and Siit is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Astor Longshort Fund and Siit Large Cap in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Siit Large Cap 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 Siit Large. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Siit Large Cap has no effect on the direction of Astor Long/short i.e., Astor Long/short and Siit Large go up and down completely randomly.
Pair Corralation between Astor Long/short and Siit Large
If you would invest 1,183 in Astor Longshort Fund on September 5, 2024 and sell it today you would earn a total of 247.00 from holding Astor Longshort Fund or generate 20.88% 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. Siit Large Cap
Performance |
| Timeline |
| Astor Long/short |
| Siit Large Cap |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Astor Long/short and Siit Large Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Astor Long/short and Siit Large
The main advantage of trading using opposite Astor Long/short and Siit Large positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Astor Long/short position performs unexpectedly, Siit Large 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 Siit Large will offset losses from the drop in Siit Large's long position.| Astor Long/short vs. Ab Government Exchange | Astor Long/short vs. Edward Jones Money | Astor Long/short vs. Hsbc Treasury Money | Astor Long/short vs. American Century Municipal |
| Siit Large vs. Astor Longshort Fund | Siit Large vs. Vanguard Institutional Short Term | Siit Large vs. Quantitative Longshort Equity | Siit Large vs. Limited Term Tax |
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 Bollinger Bands module to use Bollinger Bands indicator to analyze target price for a given investing horizon.
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