Correlation Between Duff and Keeley Small
Can any of the company-specific risk be diversified away by investing in both Duff and Keeley Small 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 Duff and Keeley Small into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Duff And Phelps and Keeley Small Cap, you can compare the effects of market volatilities on Duff and Keeley Small 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 Duff with a short position of Keeley Small. Check out your portfolio center. Please also check ongoing floating volatility patterns of Duff and Keeley Small.
Diversification Opportunities for Duff and Keeley Small
0.14 | Correlation Coefficient |
Average diversification
The 3 months correlation between Duff and Keeley is 0.14. Overlapping area represents the amount of risk that can be diversified away by holding Duff And Phelps and Keeley Small Cap in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Keeley Small Cap and Duff 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 Duff And Phelps are associated (or correlated) with Keeley Small. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Keeley Small Cap has no effect on the direction of Duff i.e., Duff and Keeley Small go up and down completely randomly.
Pair Corralation between Duff and Keeley Small
Considering the 90-day investment horizon Duff And Phelps is expected to generate 0.95 times more return on investment than Keeley Small. However, Duff And Phelps is 1.06 times less risky than Keeley Small. It trades about 0.09 of its potential returns per unit of risk. Keeley Small Cap is currently generating about -0.1 per unit of risk. If you would invest 1,131 in Duff And Phelps on December 11, 2024 and sell it today you would earn a total of 36.00 from holding Duff And Phelps or generate 3.18% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Duff And Phelps vs. Keeley Small Cap
Performance |
| Timeline |
| Duff And Phelps |
| Keeley Small Cap |
Duff and Keeley Small Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Duff and Keeley Small
The main advantage of trading using opposite Duff and Keeley Small positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Duff position performs unexpectedly, Keeley Small 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 Keeley Small will offset losses from the drop in Keeley Small's long position.| Duff vs. BlackRock Health Sciences | Duff vs. Blackrock Enhanced Capital | Duff vs. Blackrock Resources Commodities | Duff vs. Cohen And Steers |
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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 Piotroski F Score module to get Piotroski F Score based on the binary analysis strategy of nine different fundamentals.
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