Correlation Between Ftfa Franklin and Mainstay Conservative
Can any of the company-specific risk be diversified away by investing in both Ftfa Franklin and Mainstay Conservative at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Ftfa Franklin and Mainstay Conservative into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Ftfa Franklin Templeton Growth and Mainstay Conservative Allocation, you can compare the effects of market volatilities on Ftfa Franklin and Mainstay Conservative 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 Ftfa Franklin with a short position of Mainstay Conservative. Check out your portfolio center. Please also check ongoing floating volatility patterns of Ftfa Franklin and Mainstay Conservative.
Diversification Opportunities for Ftfa Franklin and Mainstay Conservative
0.58 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Ftfa and Mainstay is 0.58. Overlapping area represents the amount of risk that can be diversified away by holding Ftfa Franklin Templeton Growth and Mainstay Conservative Allocati in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Mainstay Conservative and Ftfa Franklin 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 Ftfa Franklin Templeton Growth are associated (or correlated) with Mainstay Conservative. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Mainstay Conservative has no effect on the direction of Ftfa Franklin i.e., Ftfa Franklin and Mainstay Conservative go up and down completely randomly.
Pair Corralation between Ftfa Franklin and Mainstay Conservative
If you would invest 2,025 in Ftfa Franklin Templeton Growth on September 12, 2024 and sell it today you would earn a total of 96.00 from holding Ftfa Franklin Templeton Growth or generate 4.74% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 1.59% |
| Values | Daily Returns |
Ftfa Franklin Templeton Growth vs. Mainstay Conservative Allocati
Performance |
| Timeline |
| Ftfa Franklin Templeton |
| Mainstay Conservative |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Ftfa Franklin and Mainstay Conservative Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Ftfa Franklin and Mainstay Conservative
The main advantage of trading using opposite Ftfa Franklin and Mainstay Conservative positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Ftfa Franklin position performs unexpectedly, Mainstay Conservative 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 Mainstay Conservative will offset losses from the drop in Mainstay Conservative's long position.| Ftfa Franklin vs. Lord Abbett Small | Ftfa Franklin vs. Ab Discovery Value | Ftfa Franklin vs. Royce Opportunity Fund | Ftfa Franklin vs. Vanguard Small Cap Value |
| Mainstay Conservative vs. Great West Loomis Sayles | Mainstay Conservative vs. Fidelity Small Cap | Mainstay Conservative vs. Heartland Value Plus | Mainstay Conservative vs. Amg River Road |
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 CEOs Directory module to screen CEOs from public companies around the world.
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