Correlation Between Gotham Short and Astor Long/short
Can any of the company-specific risk be diversified away by investing in both Gotham Short and Astor Long/short 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 Gotham Short and Astor Long/short into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Gotham Short Strategies and Astor Longshort Fund, you can compare the effects of market volatilities on Gotham Short and Astor Long/short 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 Gotham Short with a short position of Astor Long/short. Check out your portfolio center. Please also check ongoing floating volatility patterns of Gotham Short and Astor Long/short.
Diversification Opportunities for Gotham Short and Astor Long/short
-0.39 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Gotham and Astor is -0.39. Overlapping area represents the amount of risk that can be diversified away by holding Gotham Short Strategies and Astor Longshort Fund in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Astor Long/short and Gotham Short 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 Gotham Short Strategies are associated (or correlated) with Astor Long/short. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Astor Long/short has no effect on the direction of Gotham Short i.e., Gotham Short and Astor Long/short go up and down completely randomly.
Pair Corralation between Gotham Short and Astor Long/short
If you would invest 1,368 in Astor Longshort Fund on August 26, 2024 and sell it today you would earn a total of 55.00 from holding Astor Longshort Fund or generate 4.02% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 1.54% |
| Values | Daily Returns |
Gotham Short Strategies vs. Astor Longshort Fund
Performance |
| Timeline |
| Gotham Short Strategies |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| Astor Long/short |
Gotham Short and Astor Long/short Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Gotham Short and Astor Long/short
The main advantage of trading using opposite Gotham Short and Astor Long/short positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Gotham Short position performs unexpectedly, Astor Long/short 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 Astor Long/short will offset losses from the drop in Astor Long/short's long position.| Gotham Short vs. Astor Longshort Fund | Gotham Short vs. Touchstone Ultra Short | Gotham Short vs. Angel Oak Ultrashort | Gotham Short vs. Guggenheim Long Short |
| Astor Long/short vs. T Rowe Price | Astor Long/short vs. Tfa Alphagen Growth | Astor Long/short vs. Ab Centrated Growth | Astor Long/short vs. Chase Growth 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 Pattern Recognition module to use different Pattern Recognition models to time the market across multiple global exchanges.
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