Correlation Between Baillie Gifford and Osterweis Strategic
Can any of the company-specific risk be diversified away by investing in both Baillie Gifford and Osterweis Strategic 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 Osterweis Strategic into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Baillie Gifford Health and Osterweis Strategic Investment, you can compare the effects of market volatilities on Baillie Gifford and Osterweis Strategic 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 Osterweis Strategic. Check out your portfolio center. Please also check ongoing floating volatility patterns of Baillie Gifford and Osterweis Strategic.
Diversification Opportunities for Baillie Gifford and Osterweis Strategic
0.17 | Correlation Coefficient |
Average diversification
The 3 months correlation between Baillie and OSTERWEIS is 0.17. Overlapping area represents the amount of risk that can be diversified away by holding Baillie Gifford Health and Osterweis Strategic Investment in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Osterweis Strategic 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 Health are associated (or correlated) with Osterweis Strategic. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Osterweis Strategic has no effect on the direction of Baillie Gifford i.e., Baillie Gifford and Osterweis Strategic go up and down completely randomly.
Pair Corralation between Baillie Gifford and Osterweis Strategic
If you would invest 1,632 in Osterweis Strategic Investment on November 3, 2024 and sell it today you would earn a total of 45.00 from holding Osterweis Strategic Investment or generate 2.76% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Baillie Gifford Health vs. Osterweis Strategic Investment
Performance |
| Timeline |
| Baillie Gifford Health |
| Osterweis Strategic |
Baillie Gifford and Osterweis Strategic Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Baillie Gifford and Osterweis Strategic
The main advantage of trading using opposite Baillie Gifford and Osterweis Strategic positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Baillie Gifford position performs unexpectedly, Osterweis Strategic 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 Osterweis Strategic will offset losses from the drop in Osterweis Strategic's long position.| Baillie Gifford vs. Rbc Bluebay Global | Baillie Gifford vs. Aqr Risk Parity | Baillie Gifford vs. Needham Aggressive Growth | Baillie Gifford vs. Calamos High Income |
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 Money Managers module to screen money managers from public funds and ETFs managed around the world.
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