Correlation Between Glg Intl and Ab Fixed
Can any of the company-specific risk be diversified away by investing in both Glg Intl and Ab Fixed 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 Glg Intl and Ab Fixed into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Glg Intl Small and Ab Fixed Income Shares, you can compare the effects of market volatilities on Glg Intl and Ab Fixed 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 Glg Intl with a short position of Ab Fixed. Check out your portfolio center. Please also check ongoing floating volatility patterns of Glg Intl and Ab Fixed.
Diversification Opportunities for Glg Intl and Ab Fixed
Pay attention - limited upside
The 3 months correlation between Glg and AECXX is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Glg Intl Small and Ab Fixed Income Shares in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Ab Fixed Income and Glg Intl 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 Glg Intl Small are associated (or correlated) with Ab Fixed. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Ab Fixed Income has no effect on the direction of Glg Intl i.e., Glg Intl and Ab Fixed go up and down completely randomly.
Pair Corralation between Glg Intl and Ab Fixed
If you would invest 6,611 in Glg Intl Small on September 15, 2024 and sell it today you would earn a total of 2,136 from holding Glg Intl Small or generate 32.31% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 38.66% |
| Values | Daily Returns |
Glg Intl Small vs. Ab Fixed Income Shares
Performance |
| Timeline |
| Glg Intl Small |
| Ab Fixed Income |
Glg Intl and Ab Fixed Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Glg Intl and Ab Fixed
The main advantage of trading using opposite Glg Intl and Ab Fixed positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Glg Intl position performs unexpectedly, Ab Fixed 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 Ab Fixed will offset losses from the drop in Ab Fixed's long position.| Glg Intl vs. Ishares Municipal Bond | Glg Intl vs. T Rowe Price | Glg Intl vs. Franklin High Yield | Glg Intl vs. California Bond Fund |
| Ab Fixed vs. Ab Small Cap | Ab Fixed vs. Small Pany Growth | Ab Fixed vs. Needham Small Cap | Ab Fixed vs. Glg Intl Small |
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 ETFs module to find actively traded Exchange Traded Funds (ETF) from around the world.
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