Correlation Between Mast Global and IShares Future
Can any of the company-specific risk be diversified away by investing in both Mast Global and IShares Future 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 Mast Global and IShares Future into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Mast Global Battery and iShares Future AI, you can compare the effects of market volatilities on Mast Global and IShares Future 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 Mast Global with a short position of IShares Future. Check out your portfolio center. Please also check ongoing floating volatility patterns of Mast Global and IShares Future.
Diversification Opportunities for Mast Global and IShares Future
-0.45 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Mast and IShares is -0.45. Overlapping area represents the amount of risk that can be diversified away by holding Mast Global Battery and iShares Future AI in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on iShares Future AI and Mast Global 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 Mast Global Battery are associated (or correlated) with IShares Future. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of iShares Future AI has no effect on the direction of Mast Global i.e., Mast Global and IShares Future go up and down completely randomly.
Pair Corralation between Mast Global and IShares Future
Allowing for the 90-day total investment horizon Mast Global Battery is expected to under-perform the IShares Future. But the etf apears to be less risky and, when comparing its historical volatility, Mast Global Battery is 1.03 times less risky than IShares Future. The etf trades about 0.0 of its potential returns per unit of risk. The iShares Future AI is currently generating about 0.06 of returns per unit of risk over similar time horizon. If you would invest 2,780 in iShares Future AI on October 9, 2024 and sell it today you would earn a total of 1,129 from holding iShares Future AI or generate 40.61% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 52.73% |
| Values | Daily Returns |
Mast Global Battery vs. iShares Future AI
Performance |
| Timeline |
| Mast Global Battery |
| iShares Future AI |
Mast Global and IShares Future Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Mast Global and IShares Future
The main advantage of trading using opposite Mast Global and IShares Future positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Mast Global position performs unexpectedly, IShares Future 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 IShares Future will offset losses from the drop in IShares Future's long position.| Mast Global vs. iShares Dividend and | Mast Global vs. Martin Currie Sustainable | Mast Global vs. VictoryShares THB Mid | Mast Global vs. AdvisorShares Gerber Kawasaki |
| IShares Future vs. iShares Dividend and | IShares Future vs. Martin Currie Sustainable | IShares Future vs. VictoryShares THB Mid | IShares Future vs. Mast Global Battery |
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 Positions Ratings module to 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.
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