Correlation Between CBH and Fidus Investment
Can any of the company-specific risk be diversified away by investing in both CBH and Fidus Investment 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 CBH and Fidus Investment into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between CBH and Fidus Investment Corp, you can compare the effects of market volatilities on CBH and Fidus Investment 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 CBH with a short position of Fidus Investment. Check out your portfolio center. Please also check ongoing floating volatility patterns of CBH and Fidus Investment.
Diversification Opportunities for CBH and Fidus Investment
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between CBH and Fidus is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding CBH and Fidus Investment Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Fidus Investment Corp and CBH 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 CBH are associated (or correlated) with Fidus Investment. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Fidus Investment Corp has no effect on the direction of CBH i.e., CBH and Fidus Investment go up and down completely randomly.
Pair Corralation between CBH and Fidus Investment
If you would invest 1,889 in Fidus Investment Corp on November 1, 2024 and sell it today you would earn a total of 353.00 from holding Fidus Investment Corp or generate 18.69% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 3.33% |
| Values | Daily Returns |
CBH vs. Fidus Investment Corp
Performance |
| Timeline |
| CBH |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| Fidus Investment Corp |
CBH and Fidus Investment Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CBH and Fidus Investment
The main advantage of trading using opposite CBH and Fidus Investment positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CBH position performs unexpectedly, Fidus Investment 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 Fidus Investment will offset losses from the drop in Fidus Investment's long position.| CBH vs. Eaton Vance National | CBH vs. Blackrock Muniholdings Ny | CBH vs. Nuveen California Select | CBH vs. MFS Investment Grade |
| Fidus Investment vs. Golub Capital BDC | Fidus Investment vs. BlackRock TCP Capital | Fidus Investment vs. Carlyle Secured Lending | Fidus Investment vs. Sixth Street Specialty |
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 Idea Optimizer module to use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio .
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