Correlation Between Fidus Investment and 58013MEU4
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By analyzing existing cross correlation between Fidus Investment Corp and MCDONALDS P MEDIUM, you can compare the effects of market volatilities on Fidus Investment and 58013MEU4 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 58013MEU4. Check out your portfolio center. Please also check ongoing floating volatility patterns of Fidus Investment and 58013MEU4.
Diversification Opportunities for Fidus Investment and 58013MEU4
-0.33 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Fidus and 58013MEU4 is -0.33. Overlapping area represents the amount of risk that can be diversified away by holding Fidus Investment Corp and MCDONALDS P MEDIUM in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on MCDONALDS P MEDIUM 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 58013MEU4. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of MCDONALDS P MEDIUM has no effect on the direction of Fidus Investment i.e., Fidus Investment and 58013MEU4 go up and down completely randomly.
Pair Corralation between Fidus Investment and 58013MEU4
Given the investment horizon of 90 days Fidus Investment Corp is expected to generate 3.68 times more return on investment than 58013MEU4. However, Fidus Investment is 3.68 times more volatile than MCDONALDS P MEDIUM. It trades about 0.07 of its potential returns per unit of risk. MCDONALDS P MEDIUM is currently generating about 0.01 per unit of risk. If you would invest 1,559 in Fidus Investment Corp on October 7, 2024 and sell it today you would earn a total of 560.00 from holding Fidus Investment Corp or generate 35.92% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 99.4% |
| Values | Daily Returns |
Fidus Investment Corp vs. MCDONALDS P MEDIUM
Performance |
| Timeline |
| Fidus Investment Corp |
| MCDONALDS P MEDIUM |
Fidus Investment and 58013MEU4 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Fidus Investment and 58013MEU4
The main advantage of trading using opposite Fidus Investment and 58013MEU4 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Fidus Investment position performs unexpectedly, 58013MEU4 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 58013MEU4 will offset losses from the drop in 58013MEU4'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 |
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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 Idea Optimizer module to use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio .
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