Correlation Between Fidus Investment and 03835VAJ5
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By analyzing existing cross correlation between Fidus Investment Corp and APTV 31 01 DEC 51, you can compare the effects of market volatilities on Fidus Investment and 03835VAJ5 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 03835VAJ5. Check out your portfolio center. Please also check ongoing floating volatility patterns of Fidus Investment and 03835VAJ5.
Diversification Opportunities for Fidus Investment and 03835VAJ5
-0.35 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Fidus and 03835VAJ5 is -0.35. Overlapping area represents the amount of risk that can be diversified away by holding Fidus Investment Corp and APTV 31 01 DEC 51 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on APTV 31 01 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 03835VAJ5. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of APTV 31 01 has no effect on the direction of Fidus Investment i.e., Fidus Investment and 03835VAJ5 go up and down completely randomly.
Pair Corralation between Fidus Investment and 03835VAJ5
Given the investment horizon of 90 days Fidus Investment Corp is expected to generate 0.21 times more return on investment than 03835VAJ5. However, Fidus Investment Corp is 4.77 times less risky than 03835VAJ5. It trades about 0.57 of its potential returns per unit of risk. APTV 31 01 DEC 51 is currently generating about 0.02 per unit of risk. If you would invest 2,029 in Fidus Investment Corp on September 12, 2024 and sell it today you would earn a total of 120.00 from holding Fidus Investment Corp or generate 5.91% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 95.24% |
| Values | Daily Returns |
Fidus Investment Corp vs. APTV 31 01 DEC 51
Performance |
| Timeline |
| Fidus Investment Corp |
| APTV 31 01 |
Fidus Investment and 03835VAJ5 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Fidus Investment and 03835VAJ5
The main advantage of trading using opposite Fidus Investment and 03835VAJ5 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Fidus Investment position performs unexpectedly, 03835VAJ5 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 03835VAJ5 will offset losses from the drop in 03835VAJ5's long position.| Fidus Investment vs. Gladstone Investment | Fidus Investment vs. Stellus Capital Investment | Fidus Investment vs. Prospect Capital | Fidus Investment vs. Gladstone Capital |
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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 Portfolio Volatility module to check portfolio volatility and analyze historical return density to properly model market risk.
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