Correlation Between Abrdn Bloomberg and Barclays Capital
Can any of the company-specific risk be diversified away by investing in both Abrdn Bloomberg and Barclays Capital 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 Abrdn Bloomberg and Barclays Capital into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between abrdn Bloomberg All and Barclays Capital, you can compare the effects of market volatilities on Abrdn Bloomberg and Barclays Capital 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 Abrdn Bloomberg with a short position of Barclays Capital. Check out your portfolio center. Please also check ongoing floating volatility patterns of Abrdn Bloomberg and Barclays Capital.
Diversification Opportunities for Abrdn Bloomberg and Barclays Capital
-0.44 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Abrdn and Barclays is -0.44. Overlapping area represents the amount of risk that can be diversified away by holding abrdn Bloomberg All and Barclays Capital in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Barclays Capital and Abrdn Bloomberg 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 abrdn Bloomberg All are associated (or correlated) with Barclays Capital. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Barclays Capital has no effect on the direction of Abrdn Bloomberg i.e., Abrdn Bloomberg and Barclays Capital go up and down completely randomly.
Pair Corralation between Abrdn Bloomberg and Barclays Capital
Considering the 90-day investment horizon abrdn Bloomberg All is expected to under-perform the Barclays Capital. But the etf apears to be less risky and, when comparing its historical volatility, abrdn Bloomberg All is 2.28 times less risky than Barclays Capital. The etf trades about 0.0 of its potential returns per unit of risk. The Barclays Capital is currently generating about 0.06 of returns per unit of risk over similar time horizon. If you would invest 4,654 in Barclays Capital on August 24, 2024 and sell it today you would earn a total of 746.00 from holding Barclays Capital or generate 16.03% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 31.92% |
| Values | Daily Returns |
abrdn Bloomberg All vs. Barclays Capital
Performance |
| Timeline |
| abrdn Bloomberg All |
| Barclays Capital |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Abrdn Bloomberg and Barclays Capital Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Abrdn Bloomberg and Barclays Capital
The main advantage of trading using opposite Abrdn Bloomberg and Barclays Capital positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Abrdn Bloomberg position performs unexpectedly, Barclays Capital 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 Barclays Capital will offset losses from the drop in Barclays Capital's long position.| Abrdn Bloomberg vs. GraniteShares Bloomberg Commodity | Abrdn Bloomberg vs. abrdn Bloomberg All | Abrdn Bloomberg vs. PIMCO 15 Year | Abrdn Bloomberg vs. Invesco Optimum Yield |
| Barclays Capital vs. abrdn Bloomberg All | Barclays Capital vs. GraniteShares Bloomberg Commodity | Barclays Capital vs. iShares GSCI Commodity | Barclays Capital vs. abrdn Bloomberg All |
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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