Correlation Between DSJA and Barclays ETN
Can any of the company-specific risk be diversified away by investing in both DSJA and Barclays ETN 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 DSJA and Barclays ETN into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between DSJA and Barclays ETN FI, you can compare the effects of market volatilities on DSJA and Barclays ETN 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 DSJA with a short position of Barclays ETN. Check out your portfolio center. Please also check ongoing floating volatility patterns of DSJA and Barclays ETN.
Diversification Opportunities for DSJA and Barclays ETN
-0.72 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between DSJA and Barclays is -0.72. Overlapping area represents the amount of risk that can be diversified away by holding DSJA and Barclays ETN FI in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Barclays ETN FI and DSJA 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 DSJA are associated (or correlated) with Barclays ETN. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Barclays ETN FI has no effect on the direction of DSJA i.e., DSJA and Barclays ETN go up and down completely randomly.
Pair Corralation between DSJA and Barclays ETN
If you would invest 2,865 in DSJA on September 3, 2024 and sell it today you would earn a total of 0.00 from holding DSJA or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 0.68% |
| Values | Daily Returns |
DSJA vs. Barclays ETN FI
Performance |
| Timeline |
| DSJA |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| Barclays ETN FI |
DSJA and Barclays ETN Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with DSJA and Barclays ETN
The main advantage of trading using opposite DSJA and Barclays ETN positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if DSJA position performs unexpectedly, Barclays ETN 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 Barclays ETN will offset losses from the drop in Barclays ETN's long position.| DSJA vs. FT Cboe Vest | DSJA vs. Aquagold International | DSJA vs. Morningstar Unconstrained Allocation | DSJA vs. High Yield Municipal Fund |
| Barclays ETN vs. Freedom Day Dividend | Barclays ETN vs. iShares MSCI China | Barclays ETN vs. SmartETFs Dividend Builder | Barclays ETN vs. Tidal ETF Trust |
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 Idea Optimizer module to use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio .
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