Correlation Between Stone Harbor and BlackRock Floating
Can any of the company-specific risk be diversified away by investing in both Stone Harbor and BlackRock Floating 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 Stone Harbor and BlackRock Floating into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Stone Harbor Emerging and BlackRock Floating Rate, you can compare the effects of market volatilities on Stone Harbor and BlackRock Floating 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 Stone Harbor with a short position of BlackRock Floating. Check out your portfolio center. Please also check ongoing floating volatility patterns of Stone Harbor and BlackRock Floating.
Diversification Opportunities for Stone Harbor and BlackRock Floating
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Stone and BlackRock is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Stone Harbor Emerging and BlackRock Floating Rate in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on BlackRock Floating Rate and Stone Harbor 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 Stone Harbor Emerging are associated (or correlated) with BlackRock Floating. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BlackRock Floating Rate has no effect on the direction of Stone Harbor i.e., Stone Harbor and BlackRock Floating go up and down completely randomly.
Pair Corralation between Stone Harbor and BlackRock Floating
If you would invest 1,100 in BlackRock Floating Rate on September 3, 2024 and sell it today you would earn a total of 207.00 from holding BlackRock Floating Rate or generate 18.82% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.44% |
| Values | Daily Returns |
Stone Harbor Emerging vs. BlackRock Floating Rate
Performance |
| Timeline |
| Stone Harbor Emerging |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| BlackRock Floating Rate |
Stone Harbor and BlackRock Floating Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Stone Harbor and BlackRock Floating
The main advantage of trading using opposite Stone Harbor and BlackRock Floating positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Stone Harbor position performs unexpectedly, BlackRock Floating 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 BlackRock Floating will offset losses from the drop in BlackRock Floating's long position.| Stone Harbor vs. Aberdeen Global IF | Stone Harbor vs. Clough Global Opportunities | Stone Harbor vs. RiverNorthDoubleLine Strategic Opportunity | Stone Harbor vs. Cornerstone Strategic Return |
| BlackRock Floating vs. Nuveen Mortgage Opportunity | BlackRock Floating vs. Eaton Vance Senior | BlackRock Floating vs. Pioneer Floating Rate | BlackRock Floating vs. Eaton Vance Floating |
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 Premium Stories module to follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope.
Other Complementary Tools
| Investing Opportunities Build portfolios using our predefined set of ideas and optimize them against your investing preferences | |
| Companies Directory Evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals | |
| Premium Stories Follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope | |
| Bond Analysis Evaluate and analyze corporate bonds as a potential investment for your portfolios. | |
| Stocks Directory Find actively traded stocks across global markets |