Correlation Between Barings BDC and ASSURED
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By analyzing existing cross correlation between Barings BDC and ASSURED GTY HLDGS, you can compare the effects of market volatilities on Barings BDC and ASSURED 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 Barings BDC with a short position of ASSURED. Check out your portfolio center. Please also check ongoing floating volatility patterns of Barings BDC and ASSURED.
Diversification Opportunities for Barings BDC and ASSURED
-0.04 | Correlation Coefficient |
Good diversification
The 3 months correlation between Barings and ASSURED is -0.04. Overlapping area represents the amount of risk that can be diversified away by holding Barings BDC and ASSURED GTY HLDGS in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on ASSURED GTY HLDGS and Barings BDC 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 Barings BDC are associated (or correlated) with ASSURED. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ASSURED GTY HLDGS has no effect on the direction of Barings BDC i.e., Barings BDC and ASSURED go up and down completely randomly.
Pair Corralation between Barings BDC and ASSURED
Given the investment horizon of 90 days Barings BDC is expected to generate 0.63 times more return on investment than ASSURED. However, Barings BDC is 1.59 times less risky than ASSURED. It trades about 0.07 of its potential returns per unit of risk. ASSURED GTY HLDGS is currently generating about 0.02 per unit of risk. If you would invest 701.00 in Barings BDC on August 31, 2024 and sell it today you would earn a total of 323.00 from holding Barings BDC or generate 46.08% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 81.17% |
| Values | Daily Returns |
Barings BDC vs. ASSURED GTY HLDGS
Performance |
| Timeline |
| Barings BDC |
| ASSURED GTY HLDGS |
Barings BDC and ASSURED Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Barings BDC and ASSURED
The main advantage of trading using opposite Barings BDC and ASSURED positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Barings BDC position performs unexpectedly, ASSURED 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 ASSURED will offset losses from the drop in ASSURED's long position.| Barings BDC vs. Visa Class A | Barings BDC vs. RLJ Lodging Trust | Barings BDC vs. Aquagold International | Barings BDC vs. Stepstone Group |
| ASSURED vs. Newpark Resources | ASSURED vs. IPG Photonics | ASSURED vs. ScanSource | ASSURED vs. Arrow Electronics |
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 Companies Directory module to evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals.
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