Correlation Between Fidus Investment and GENERAL
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By analyzing existing cross correlation between Fidus Investment Corp and GENERAL ELEC CAP, you can compare the effects of market volatilities on Fidus Investment and GENERAL 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 GENERAL. Check out your portfolio center. Please also check ongoing floating volatility patterns of Fidus Investment and GENERAL.
Diversification Opportunities for Fidus Investment and GENERAL
0.2 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Fidus and GENERAL is 0.2. Overlapping area represents the amount of risk that can be diversified away by holding Fidus Investment Corp and GENERAL ELEC CAP in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on GENERAL ELEC CAP 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 GENERAL. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of GENERAL ELEC CAP has no effect on the direction of Fidus Investment i.e., Fidus Investment and GENERAL go up and down completely randomly.
Pair Corralation between Fidus Investment and GENERAL
Given the investment horizon of 90 days Fidus Investment Corp is expected to generate 0.59 times more return on investment than GENERAL. However, Fidus Investment Corp is 1.69 times less risky than GENERAL. It trades about 0.57 of its potential returns per unit of risk. GENERAL ELEC CAP is currently generating about -0.18 per unit of risk. If you would invest 1,920 in Fidus Investment Corp on September 4, 2024 and sell it today you would earn a total of 188.00 from holding Fidus Investment Corp or generate 9.79% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 28.57% |
| Values | Daily Returns |
Fidus Investment Corp vs. GENERAL ELEC CAP
Performance |
| Timeline |
| Fidus Investment Corp |
| GENERAL ELEC CAP |
Fidus Investment and GENERAL Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Fidus Investment and GENERAL
The main advantage of trading using opposite Fidus Investment and GENERAL positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Fidus Investment position performs unexpectedly, GENERAL 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 GENERAL will offset losses from the drop in GENERAL'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 |
| GENERAL vs. Coursera | GENERAL vs. Valneva SE ADR | GENERAL vs. WEBTOON Entertainment Common | GENERAL vs. Udemy Inc |
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 Transaction History module to view history of all your transactions and understand their impact on performance.
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