Correlation Between Franklin Growth and Salient Em
Can any of the company-specific risk be diversified away by investing in both Franklin Growth and Salient Em 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 Franklin Growth and Salient Em into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Franklin Growth Opportunities and Salient Em Porate, you can compare the effects of market volatilities on Franklin Growth and Salient Em 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 Franklin Growth with a short position of Salient Em. Check out your portfolio center. Please also check ongoing floating volatility patterns of Franklin Growth and Salient Em.
Diversification Opportunities for Franklin Growth and Salient Em
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Franklin and Salient is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Franklin Growth Opportunities and Salient Em Porate in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Salient Em Porate and Franklin Growth 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 Franklin Growth Opportunities are associated (or correlated) with Salient Em. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Salient Em Porate has no effect on the direction of Franklin Growth i.e., Franklin Growth and Salient Em go up and down completely randomly.
Pair Corralation between Franklin Growth and Salient Em
If you would invest 4,300 in Franklin Growth Opportunities on September 4, 2024 and sell it today you would earn a total of 2,044 from holding Franklin Growth Opportunities or generate 47.53% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Franklin Growth Opportunities vs. Salient Em Porate
Performance |
| Timeline |
| Franklin Growth Oppo |
| Salient Em Porate |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Franklin Growth and Salient Em Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Franklin Growth and Salient Em
The main advantage of trading using opposite Franklin Growth and Salient Em positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Franklin Growth position performs unexpectedly, Salient Em 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 Salient Em will offset losses from the drop in Salient Em's long position.| Franklin Growth vs. Ab Global Risk | Franklin Growth vs. Artisan Global Unconstrained | Franklin Growth vs. Ab Global Real | Franklin Growth vs. Dreyfusstandish Global Fixed |
| Salient Em vs. Nationwide Growth Fund | Salient Em vs. Mid Cap Growth | Salient Em vs. Franklin Growth Opportunities | Salient Em vs. Pace Smallmedium Growth |
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 Piotroski F Score module to get Piotroski F Score based on the binary analysis strategy of nine different fundamentals.
Other Complementary Tools
| Price Transformation Use Price Transformation models to analyze the depth of different equity instruments across global markets | |
| Funds Screener Find actively-traded funds from around the world traded on over 30 global exchanges | |
| Idea Optimizer Use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio | |
| Odds Of Bankruptcy Get analysis of equity chance of financial distress in the next 2 years | |
| Theme Ratings Determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance |