Correlation Between Fidus Investment and CBH
Can any of the company-specific risk be diversified away by investing in both Fidus Investment and CBH 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 Fidus Investment and CBH into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Fidus Investment Corp and CBH, you can compare the effects of market volatilities on Fidus Investment and CBH 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 Fidus Investment with a short position of CBH. Check out your portfolio center. Please also check ongoing floating volatility patterns of Fidus Investment and CBH.
Diversification Opportunities for Fidus Investment and CBH
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Fidus and CBH is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Fidus Investment Corp and CBH in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CBH and Fidus Investment 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 Fidus Investment Corp are associated (or correlated) with CBH. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CBH has no effect on the direction of Fidus Investment i.e., Fidus Investment and CBH go up and down completely randomly.
Pair Corralation between Fidus Investment and CBH
If you would invest 1,794 in Fidus Investment Corp on November 9, 2024 and sell it today you would earn a total of 456.00 from holding Fidus Investment Corp or generate 25.42% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Fidus Investment Corp vs. CBH
Performance |
| Timeline |
| Fidus Investment Corp |
| CBH |
Risk-Adjusted Performance
Very Weak
Weak | Strong |
Fidus Investment and CBH Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Fidus Investment and CBH
The main advantage of trading using opposite Fidus Investment and CBH positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Fidus Investment position performs unexpectedly, CBH 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 CBH will offset losses from the drop in CBH's long position.| Fidus Investment vs. Golub Capital BDC | Fidus Investment vs. BlackRock TCP Capital | Fidus Investment vs. Carlyle Secured Lending | Fidus Investment vs. Sixth Street Specialty |
| CBH vs. Eaton Vance National | CBH vs. Blackrock Muniholdings Ny | CBH vs. Nuveen California Select | CBH vs. MFS Investment Grade |
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 Competition Analyzer module to analyze and compare many basic indicators for a group of related or unrelated entities.
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