Correlation Between Dunham Real and Baillie Gifford
Can any of the company-specific risk be diversified away by investing in both Dunham Real 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 Dunham Real and Baillie Gifford 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 Baillie Gifford Health, you can compare the effects of market volatilities on Dunham Real 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 Dunham Real with a short position of Baillie Gifford. Check out your portfolio center. Please also check ongoing floating volatility patterns of Dunham Real and Baillie Gifford.
Diversification Opportunities for Dunham Real and Baillie Gifford
0.28 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Dunham and Baillie is 0.28. Overlapping area represents the amount of risk that can be diversified away by holding Dunham Real Estate and Baillie Gifford Health in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Baillie Gifford Health 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 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 Health has no effect on the direction of Dunham Real i.e., Dunham Real and Baillie Gifford go up and down completely randomly.
Pair Corralation between Dunham Real and Baillie Gifford
If you would invest 1,391 in Dunham Real Estate on October 24, 2024 and sell it today you would earn a total of 22.00 from holding Dunham Real Estate or generate 1.58% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Dunham Real Estate vs. Baillie Gifford Health
Performance |
| Timeline |
| Dunham Real Estate |
| Baillie Gifford Health |
Dunham Real and Baillie Gifford Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Dunham Real and Baillie Gifford
The main advantage of trading using opposite Dunham Real and Baillie Gifford positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Dunham Real 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.| Dunham Real vs. Rbc Funds Trust | Dunham Real vs. T Rowe Price | Dunham Real vs. Commodities Strategy Fund | Dunham Real vs. Predex Funds |
| Baillie Gifford vs. First Trust Specialty | Baillie Gifford vs. Rmb Mendon Financial | Baillie Gifford vs. Goldman Sachs Trust | Baillie Gifford vs. Icon Financial Fund |
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 Bond Analysis module to evaluate and analyze corporate bonds as a potential investment for your portfolios..
Other Complementary Tools
| Fundamentals Comparison Compare fundamentals across multiple equities to find investing opportunities | |
| Share Portfolio Track or share privately all of your investments from the convenience of any device | |
| My Watchlist Analysis Analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like | |
| Portfolio Rebalancing Analyze risk-adjusted returns against different time horizons to find asset-allocation targets | |
| Options Analysis Analyze and evaluate options and option chains as a potential hedge for your portfolios |