Correlation Between GCM Grosvenor and Nuveen Intermediate
Can any of the company-specific risk be diversified away by investing in both GCM Grosvenor and Nuveen Intermediate 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 GCM Grosvenor and Nuveen Intermediate into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between GCM Grosvenor and Nuveen Intermediate Duration, you can compare the effects of market volatilities on GCM Grosvenor and Nuveen Intermediate 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 GCM Grosvenor with a short position of Nuveen Intermediate. Check out your portfolio center. Please also check ongoing floating volatility patterns of GCM Grosvenor and Nuveen Intermediate.
Diversification Opportunities for GCM Grosvenor and Nuveen Intermediate
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between GCM and Nuveen is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding GCM Grosvenor and Nuveen Intermediate Duration in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Nuveen Intermediate and GCM Grosvenor 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 GCM Grosvenor are associated (or correlated) with Nuveen Intermediate. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Nuveen Intermediate has no effect on the direction of GCM Grosvenor i.e., GCM Grosvenor and Nuveen Intermediate go up and down completely randomly.
Pair Corralation between GCM Grosvenor and Nuveen Intermediate
If you would invest 55.00 in GCM Grosvenor on January 7, 2025 and sell it today you would earn a total of 64.00 from holding GCM Grosvenor or generate 116.36% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
GCM Grosvenor vs. Nuveen Intermediate Duration
Performance |
| Timeline |
| GCM Grosvenor |
| Nuveen Intermediate |
Risk-Adjusted Performance
Very Weak
Weak | Strong |
GCM Grosvenor and Nuveen Intermediate Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with GCM Grosvenor and Nuveen Intermediate
The main advantage of trading using opposite GCM Grosvenor and Nuveen Intermediate positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if GCM Grosvenor position performs unexpectedly, Nuveen Intermediate 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 Nuveen Intermediate will offset losses from the drop in Nuveen Intermediate's long position.The idea behind GCM Grosvenor and Nuveen Intermediate Duration pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.| Nuveen Intermediate vs. GCM Grosvenor | Nuveen Intermediate vs. Nuveen Select Maturities | Nuveen Intermediate vs. Invesco Municipal Opportunity | Nuveen Intermediate vs. Blackrock Municipal Target |
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 Portfolio Suggestion module to get suggestions outside of your existing asset allocation including your own model portfolios.
Other Complementary Tools
| Money Managers Screen money managers from public funds and ETFs managed around the world | |
| Price Exposure Probability Analyze equity upside and downside potential for a given time horizon across multiple markets | |
| Bonds Directory Find actively traded corporate debentures issued by US companies | |
| Headlines Timeline Stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity | |
| Financial Widgets Easily integrated Macroaxis content with over 30 different plug-and-play financial widgets |