Correlation Between Fidus Investment and 55336VAK6
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By analyzing existing cross correlation between Fidus Investment Corp and MPLX LP 4125, you can compare the effects of market volatilities on Fidus Investment and 55336VAK6 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 55336VAK6. Check out your portfolio center. Please also check ongoing floating volatility patterns of Fidus Investment and 55336VAK6.
Diversification Opportunities for Fidus Investment and 55336VAK6
-0.66 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Fidus and 55336VAK6 is -0.66. Overlapping area represents the amount of risk that can be diversified away by holding Fidus Investment Corp and MPLX LP 4125 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on MPLX LP 4125 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 55336VAK6. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of MPLX LP 4125 has no effect on the direction of Fidus Investment i.e., Fidus Investment and 55336VAK6 go up and down completely randomly.
Pair Corralation between Fidus Investment and 55336VAK6
Given the investment horizon of 90 days Fidus Investment Corp is expected to generate 0.94 times more return on investment than 55336VAK6. However, Fidus Investment Corp is 1.07 times less risky than 55336VAK6. It trades about 0.57 of its potential returns per unit of risk. MPLX LP 4125 is currently generating about -0.1 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 | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Fidus Investment Corp vs. MPLX LP 4125
Performance |
| Timeline |
| Fidus Investment Corp |
| MPLX LP 4125 |
Fidus Investment and 55336VAK6 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Fidus Investment and 55336VAK6
The main advantage of trading using opposite Fidus Investment and 55336VAK6 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Fidus Investment position performs unexpectedly, 55336VAK6 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 55336VAK6 will offset losses from the drop in 55336VAK6'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 Economic Indicators module to top statistical indicators that provide insights into how an economy is performing.
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