Correlation Between Champlain Small and Baillie Gifford
Can any of the company-specific risk be diversified away by investing in both Champlain Small 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 Champlain Small and Baillie Gifford into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Champlain Small and Baillie Gifford International, you can compare the effects of market volatilities on Champlain Small 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 Champlain Small with a short position of Baillie Gifford. Check out your portfolio center. Please also check ongoing floating volatility patterns of Champlain Small and Baillie Gifford.
Diversification Opportunities for Champlain Small and Baillie Gifford
0.49 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Champlain and Baillie is 0.49. Overlapping area represents the amount of risk that can be diversified away by holding Champlain Small and Baillie Gifford International in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Baillie Gifford Inte and Champlain Small 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 Champlain Small 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 Inte has no effect on the direction of Champlain Small i.e., Champlain Small and Baillie Gifford go up and down completely randomly.
Pair Corralation between Champlain Small and Baillie Gifford
If you would invest 2,088 in Champlain Small on November 3, 2024 and sell it today you would earn a total of 229.00 from holding Champlain Small or generate 10.97% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 0.0% |
| Values | Daily Returns |
Champlain Small vs. Baillie Gifford International
Performance |
| Timeline |
| Champlain Small |
| Baillie Gifford Inte |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Insignificant
Champlain Small and Baillie Gifford Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Champlain Small and Baillie Gifford
The main advantage of trading using opposite Champlain Small and Baillie Gifford positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Champlain Small 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.| Champlain Small vs. The Hartford Midcap | Champlain Small vs. Mfs Emerging Markets | Champlain Small vs. Wells Fargo Special | Champlain Small vs. Baron Emerging Markets |
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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 Content Syndication module to quickly integrate customizable finance content to your own investment portal.
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