Correlation Between Doubleline Multi-asset and Astor Long/short
Can any of the company-specific risk be diversified away by investing in both Doubleline Multi-asset and Astor Long/short 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 Doubleline Multi-asset and Astor Long/short into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Doubleline Multi Asset Growth and Astor Longshort Fund, you can compare the effects of market volatilities on Doubleline Multi-asset and Astor Long/short 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 Doubleline Multi-asset with a short position of Astor Long/short. Check out your portfolio center. Please also check ongoing floating volatility patterns of Doubleline Multi-asset and Astor Long/short.
Diversification Opportunities for Doubleline Multi-asset and Astor Long/short
0.6 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Doubleline and Astor is 0.6. Overlapping area represents the amount of risk that can be diversified away by holding Doubleline Multi Asset Growth and Astor Longshort Fund in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Astor Long/short and Doubleline Multi-asset 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 Doubleline Multi Asset Growth are associated (or correlated) with Astor Long/short. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Astor Long/short has no effect on the direction of Doubleline Multi-asset i.e., Doubleline Multi-asset and Astor Long/short go up and down completely randomly.
Pair Corralation between Doubleline Multi-asset and Astor Long/short
If you would invest 1,393 in Astor Longshort Fund on August 30, 2024 and sell it today you would earn a total of 34.00 from holding Astor Longshort Fund or generate 2.44% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 4.55% |
| Values | Daily Returns |
Doubleline Multi Asset Growth vs. Astor Longshort Fund
Performance |
| Timeline |
| Doubleline Multi Asset |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| Astor Long/short |
Doubleline Multi-asset and Astor Long/short Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Doubleline Multi-asset and Astor Long/short
The main advantage of trading using opposite Doubleline Multi-asset and Astor Long/short positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Doubleline Multi-asset position performs unexpectedly, Astor Long/short 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 Astor Long/short will offset losses from the drop in Astor Long/short's long position.| Doubleline Multi-asset vs. Mutual Of America | Doubleline Multi-asset vs. Pace Smallmedium Value | Doubleline Multi-asset vs. Victory Rs Partners | Doubleline Multi-asset vs. Mid Cap Growth Profund |
| Astor Long/short vs. Ambrus Core Bond | Astor Long/short vs. Ms Global Fixed | Astor Long/short vs. T Rowe Price | Astor Long/short vs. Multisector Bond Sma |
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 Earnings Calls module to check upcoming earnings announcements updated hourly across public exchanges.
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