Correlation Between Shelton Emerging and Loomis Sayles
Can any of the company-specific risk be diversified away by investing in both Shelton Emerging and Loomis Sayles 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 Shelton Emerging and Loomis Sayles into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Shelton Emerging Markets and Loomis Sayles International, you can compare the effects of market volatilities on Shelton Emerging and Loomis Sayles 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 Shelton Emerging with a short position of Loomis Sayles. Check out your portfolio center. Please also check ongoing floating volatility patterns of Shelton Emerging and Loomis Sayles.
Diversification Opportunities for Shelton Emerging and Loomis Sayles
0.42 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Shelton and Loomis is 0.42. Overlapping area represents the amount of risk that can be diversified away by holding Shelton Emerging Markets and Loomis Sayles International in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Loomis Sayles Intern and Shelton Emerging 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 Shelton Emerging Markets are associated (or correlated) with Loomis Sayles. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Loomis Sayles Intern has no effect on the direction of Shelton Emerging i.e., Shelton Emerging and Loomis Sayles go up and down completely randomly.
Pair Corralation between Shelton Emerging and Loomis Sayles
Assuming the 90 days horizon Shelton Emerging Markets is expected to under-perform the Loomis Sayles. But the mutual fund apears to be less risky and, when comparing its historical volatility, Shelton Emerging Markets is 1.02 times less risky than Loomis Sayles. The mutual fund trades about 0.0 of its potential returns per unit of risk. The Loomis Sayles International is currently generating about 0.08 of returns per unit of risk over similar time horizon. If you would invest 869.00 in Loomis Sayles International on September 12, 2024 and sell it today you would earn a total of 271.00 from holding Loomis Sayles International or generate 31.19% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 99.7% |
| Values | Daily Returns |
Shelton Emerging Markets vs. Loomis Sayles International
Performance |
| Timeline |
| Shelton Emerging Markets |
| Loomis Sayles Intern |
Shelton Emerging and Loomis Sayles Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Shelton Emerging and Loomis Sayles
The main advantage of trading using opposite Shelton Emerging and Loomis Sayles positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Shelton Emerging position performs unexpectedly, Loomis Sayles 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 Loomis Sayles will offset losses from the drop in Loomis Sayles' long position.| Shelton Emerging vs. American Funds New | Shelton Emerging vs. SCOR PK | Shelton Emerging vs. Morningstar Unconstrained Allocation | Shelton Emerging vs. Via Renewables |
| Loomis Sayles vs. Vy Jpmorgan Emerging | Loomis Sayles vs. Origin Emerging Markets | Loomis Sayles vs. Shelton Emerging Markets | Loomis Sayles vs. Pace International Emerging |
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 Insider Screener module to find insiders across different sectors to evaluate their impact on performance.
Other Complementary Tools
| Positions Ratings Determine portfolio positions ratings based on digital equity recommendations. Macroaxis instant position ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
| Balance Of Power Check stock momentum by analyzing Balance Of Power indicator and other technical ratios | |
| Performance Analysis Check effects of mean-variance optimization against your current asset allocation | |
| Risk-Return Analysis View associations between returns expected from investment and the risk you assume | |
| Fundamental Analysis View fundamental data based on most recent published financial statements |