Correlation Between Baillie Gifford and Baillie Gifford
Can any of the company-specific risk be diversified away by investing in both Baillie Gifford and Baillie Gifford 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 Baillie Gifford and Baillie Gifford into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Baillie Gifford Global and Baillie Gifford Global, you can compare the effects of market volatilities on Baillie Gifford and Baillie Gifford 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 Baillie Gifford with a short position of Baillie Gifford. Check out your portfolio center. Please also check ongoing floating volatility patterns of Baillie Gifford and Baillie Gifford.
Diversification Opportunities for Baillie Gifford and Baillie Gifford
0.29 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Baillie and Baillie is 0.29. Overlapping area represents the amount of risk that can be diversified away by holding Baillie Gifford Global and Baillie Gifford Global in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Baillie Gifford Global and Baillie Gifford 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 Baillie Gifford Global are associated (or correlated) with Baillie Gifford. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Baillie Gifford Global has no effect on the direction of Baillie Gifford i.e., Baillie Gifford and Baillie Gifford go up and down completely randomly.
Pair Corralation between Baillie Gifford and Baillie Gifford
If you would invest 1,804 in Baillie Gifford Global on November 3, 2024 and sell it today you would earn a total of 33.00 from holding Baillie Gifford Global or generate 1.83% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 18.38% |
| Values | Daily Returns |
Baillie Gifford Global vs. Baillie Gifford Global
Performance |
| Timeline |
| Baillie Gifford Global |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| Baillie Gifford Global |
Baillie Gifford and Baillie Gifford Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Baillie Gifford and Baillie Gifford
The main advantage of trading using opposite Baillie Gifford and Baillie Gifford positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Baillie Gifford position performs unexpectedly, Baillie Gifford 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 Baillie Gifford will offset losses from the drop in Baillie Gifford's long position.| Baillie Gifford vs. Calvert Conservative Allocation | Baillie Gifford vs. Tiaa Cref Lifestyle Conservative | Baillie Gifford vs. Diversified Income Fund | Baillie Gifford vs. Fulcrum Diversified Absolute |
| Baillie Gifford vs. Gugg Actv Invmt | Baillie Gifford vs. Us High Relative | Baillie Gifford vs. Siit High Yield | Baillie Gifford vs. Transamerica High Yield |
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 Aroon Oscillator module to analyze current equity momentum using Aroon Oscillator and other momentum ratios.
Other Complementary Tools
| Competition Analyzer Analyze and compare many basic indicators for a group of related or unrelated entities | |
| Global Correlations Find global opportunities by holding instruments from different markets | |
| Bond Analysis Evaluate and analyze corporate bonds as a potential investment for your portfolios. | |
| ETF Categories List of ETF categories grouped based on various criteria, such as the investment strategy or type of investments | |
| Content Syndication Quickly integrate customizable finance content to your own investment portal |