Correlation Between Aberdeen Asia and Apollo Senior
Can any of the company-specific risk be diversified away by investing in both Aberdeen Asia and Apollo Senior 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 Aberdeen Asia and Apollo Senior into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Aberdeen Asia Pacific If and Apollo Senior Floating, you can compare the effects of market volatilities on Aberdeen Asia and Apollo Senior 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 Aberdeen Asia with a short position of Apollo Senior. Check out your portfolio center. Please also check ongoing floating volatility patterns of Aberdeen Asia and Apollo Senior.
Diversification Opportunities for Aberdeen Asia and Apollo Senior
-0.55 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Aberdeen and Apollo is -0.55. Overlapping area represents the amount of risk that can be diversified away by holding Aberdeen Asia Pacific If and Apollo Senior Floating in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Apollo Senior Floating and Aberdeen Asia 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 Aberdeen Asia Pacific If are associated (or correlated) with Apollo Senior. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Apollo Senior Floating has no effect on the direction of Aberdeen Asia i.e., Aberdeen Asia and Apollo Senior go up and down completely randomly.
Pair Corralation between Aberdeen Asia and Apollo Senior
If you would invest 1,472 in Aberdeen Asia Pacific If on November 4, 2024 and sell it today you would earn a total of 77.00 from holding Aberdeen Asia Pacific If or generate 5.23% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 5.0% |
| Values | Daily Returns |
Aberdeen Asia Pacific If vs. Apollo Senior Floating
Performance |
| Timeline |
| Aberdeen Asia Pacific |
| Apollo Senior Floating |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Aberdeen Asia and Apollo Senior Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Aberdeen Asia and Apollo Senior
The main advantage of trading using opposite Aberdeen Asia and Apollo Senior positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Aberdeen Asia position performs unexpectedly, Apollo Senior 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 Apollo Senior will offset losses from the drop in Apollo Senior's long position.| Aberdeen Asia vs. Aberdeen Australia Ef | Aberdeen Asia vs. Aberdeen Japan Equity | Aberdeen Asia vs. Stone Harbor Emerging | Aberdeen Asia vs. Aberdeen Global IF |
| Apollo Senior vs. Blackstone Gso Strategic | Apollo Senior vs. First Trust Senior | Apollo Senior vs. BlackRock Floating Rate | Apollo Senior vs. Eaton Vance Senior |
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 Theme Ratings module to determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance.
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