Correlation Between Dunham Real and Lazard Emerging
Can any of the company-specific risk be diversified away by investing in both Dunham Real and Lazard Emerging 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 Dunham Real and Lazard Emerging into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Dunham Real Estate and Lazard Emerging Markets, you can compare the effects of market volatilities on Dunham Real and Lazard Emerging 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 Dunham Real with a short position of Lazard Emerging. Check out your portfolio center. Please also check ongoing floating volatility patterns of Dunham Real and Lazard Emerging.
Diversification Opportunities for Dunham Real and Lazard Emerging
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Dunham and Lazard is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Dunham Real Estate and Lazard Emerging Markets in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Lazard Emerging Markets and Dunham Real 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 Dunham Real Estate are associated (or correlated) with Lazard Emerging. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Lazard Emerging Markets has no effect on the direction of Dunham Real i.e., Dunham Real and Lazard Emerging go up and down completely randomly.
Pair Corralation between Dunham Real and Lazard Emerging
If you would invest 1,117 in Dunham Real Estate on December 3, 2024 and sell it today you would earn a total of 278.00 from holding Dunham Real Estate or generate 24.89% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Dunham Real Estate vs. Lazard Emerging Markets
Performance |
| Timeline |
| Dunham Real Estate |
| Lazard Emerging Markets |
Risk-Adjusted Performance
Very Weak
Weak | Strong |
Dunham Real and Lazard Emerging Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Dunham Real and Lazard Emerging
The main advantage of trading using opposite Dunham Real and Lazard Emerging positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Dunham Real position performs unexpectedly, Lazard Emerging 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 Lazard Emerging will offset losses from the drop in Lazard Emerging's long position.| Dunham Real vs. Global Diversified Income | Dunham Real vs. Pgim Conservative Retirement | Dunham Real vs. Massmutual Premier Diversified | Dunham Real vs. Diversified Bond Fund |
| Lazard Emerging vs. Deutsche Real Estate | Lazard Emerging vs. Short Real Estate | Lazard Emerging vs. Texton Property | Lazard Emerging vs. Vy Clarion Real |
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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