Correlation Between Fidus Investment and Sinclair
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By analyzing existing cross correlation between Fidus Investment Corp and Sinclair Television Group, you can compare the effects of market volatilities on Fidus Investment and Sinclair 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 Sinclair. Check out your portfolio center. Please also check ongoing floating volatility patterns of Fidus Investment and Sinclair.
Diversification Opportunities for Fidus Investment and Sinclair
0.22 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Fidus and Sinclair is 0.22. Overlapping area represents the amount of risk that can be diversified away by holding Fidus Investment Corp and Sinclair Television Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Sinclair Television 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 Sinclair. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Sinclair Television has no effect on the direction of Fidus Investment i.e., Fidus Investment and Sinclair go up and down completely randomly.
Pair Corralation between Fidus Investment and Sinclair
Given the investment horizon of 90 days Fidus Investment Corp is expected to generate 0.79 times more return on investment than Sinclair. However, Fidus Investment Corp is 1.26 times less risky than Sinclair. It trades about 0.43 of its potential returns per unit of risk. Sinclair Television Group is currently generating about -0.14 per unit of risk. If you would invest 1,951 in Fidus Investment Corp on August 30, 2024 and sell it today you would earn a total of 157.00 from holding Fidus Investment Corp or generate 8.05% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 65.22% |
| Values | Daily Returns |
Fidus Investment Corp vs. Sinclair Television Group
Performance |
| Timeline |
| Fidus Investment Corp |
| Sinclair Television |
Fidus Investment and Sinclair Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Fidus Investment and Sinclair
The main advantage of trading using opposite Fidus Investment and Sinclair positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Fidus Investment position performs unexpectedly, Sinclair 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 Sinclair will offset losses from the drop in Sinclair'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 |
| Sinclair vs. Analog Devices | Sinclair vs. CapitaLand Investment Limited | Sinclair vs. Fidus Investment Corp | Sinclair vs. Montauk Renewables |
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 ETF Categories module to list of ETF categories grouped based on various criteria, such as the investment strategy or type of investments.
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