Correlation Between James Balanced and Federated Intercontinental
Can any of the company-specific risk be diversified away by investing in both James Balanced and Federated Intercontinental 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 James Balanced and Federated Intercontinental into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between James Balanced Golden and Federated Intercontinental Fund, you can compare the effects of market volatilities on James Balanced and Federated Intercontinental 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 James Balanced with a short position of Federated Intercontinental. Check out your portfolio center. Please also check ongoing floating volatility patterns of James Balanced and Federated Intercontinental.
Diversification Opportunities for James Balanced and Federated Intercontinental
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between James and Federated is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding James Balanced Golden and Federated Intercontinental Fun in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Federated Intercontinental and James Balanced 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 James Balanced Golden are associated (or correlated) with Federated Intercontinental. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Federated Intercontinental has no effect on the direction of James Balanced i.e., James Balanced and Federated Intercontinental go up and down completely randomly.
Pair Corralation between James Balanced and Federated Intercontinental
If you would invest 1,875 in James Balanced Golden on September 3, 2024 and sell it today you would earn a total of 453.00 from holding James Balanced Golden or generate 24.16% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
James Balanced Golden vs. Federated Intercontinental Fun
Performance |
| Timeline |
| James Balanced Golden |
| Federated Intercontinental |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
James Balanced and Federated Intercontinental Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with James Balanced and Federated Intercontinental
The main advantage of trading using opposite James Balanced and Federated Intercontinental positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if James Balanced position performs unexpectedly, Federated Intercontinental 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 Federated Intercontinental will offset losses from the drop in Federated Intercontinental's long position.| James Balanced vs. Vanguard Lifestrategy Moderate | James Balanced vs. Vanguard Lifestrategy Income | James Balanced vs. Vanguard Lifestrategy Growth | James Balanced vs. Vanguard Explorer Fund |
| Federated Intercontinental vs. Europac Gold Fund | Federated Intercontinental vs. Invesco Gold Special | Federated Intercontinental vs. James Balanced Golden | Federated Intercontinental vs. Gabelli Gold Fund |
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 USA ETFs module to find actively traded Exchange Traded Funds (ETF) in USA.
Other Complementary Tools
| Money Flow Index Determine momentum by analyzing Money Flow Index and other technical indicators | |
| Price Ceiling Movement Calculate and plot Price Ceiling Movement for different equity instruments | |
| Equity Search Search for actively traded equities including funds and ETFs from over 30 global markets | |
| Pattern Recognition Use different Pattern Recognition models to time the market across multiple global exchanges | |
| Portfolio Optimization Compute new portfolio that will generate highest expected return given your specified tolerance for risk |