Correlation Between Chase Growth and Stadion Defensive
Can any of the company-specific risk be diversified away by investing in both Chase Growth and Stadion Defensive 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 Chase Growth and Stadion Defensive into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Chase Growth Fund and Stadion Defensive International, you can compare the effects of market volatilities on Chase Growth and Stadion Defensive 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 Chase Growth with a short position of Stadion Defensive. Check out your portfolio center. Please also check ongoing floating volatility patterns of Chase Growth and Stadion Defensive.
Diversification Opportunities for Chase Growth and Stadion Defensive
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Chase and Stadion is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Chase Growth Fund and Stadion Defensive Internationa in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Stadion Defensive and Chase Growth 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 Chase Growth Fund are associated (or correlated) with Stadion Defensive. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Stadion Defensive has no effect on the direction of Chase Growth i.e., Chase Growth and Stadion Defensive go up and down completely randomly.
Pair Corralation between Chase Growth and Stadion Defensive
If you would invest 1,512 in Chase Growth Fund on September 2, 2024 and sell it today you would earn a total of 257.00 from holding Chase Growth Fund or generate 17.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Chase Growth Fund vs. Stadion Defensive Internationa
Performance |
| Timeline |
| Chase Growth |
| Stadion Defensive |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Chase Growth and Stadion Defensive Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Chase Growth and Stadion Defensive
The main advantage of trading using opposite Chase Growth and Stadion Defensive positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Chase Growth position performs unexpectedly, Stadion Defensive 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 Stadion Defensive will offset losses from the drop in Stadion Defensive's long position.| Chase Growth vs. The Chesapeake Growth | Chase Growth vs. Aston Montag Caldwell | Chase Growth vs. Cambiar Opportunity Fund | Chase Growth vs. Amg Managers Brandywine |
| Stadion Defensive vs. American Funds Inflation | Stadion Defensive vs. Ab Bond Inflation | Stadion Defensive vs. Blackrock Inflation Protected | Stadion Defensive vs. Aqr Managed Futures |
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 Portfolio Comparator module to compare the composition, asset allocations and performance of any two portfolios in your account.
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