Correlation Between Hsbc Treasury and Astor Longshort
Can any of the company-specific risk be diversified away by investing in both Hsbc Treasury and Astor Longshort 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 Hsbc Treasury and Astor Longshort into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Hsbc Treasury Money and Astor Longshort Fund, you can compare the effects of market volatilities on Hsbc Treasury and Astor Longshort 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 Hsbc Treasury with a short position of Astor Longshort. Check out your portfolio center. Please also check ongoing floating volatility patterns of Hsbc Treasury and Astor Longshort.
Diversification Opportunities for Hsbc Treasury and Astor Longshort
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Hsbc and Astor is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Hsbc Treasury Money and Astor Longshort Fund in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Astor Longshort and Hsbc Treasury 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 Hsbc Treasury Money are associated (or correlated) with Astor Longshort. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Astor Longshort has no effect on the direction of Hsbc Treasury i.e., Hsbc Treasury and Astor Longshort go up and down completely randomly.
Pair Corralation between Hsbc Treasury and Astor Longshort
If you would invest 1,413 in Astor Longshort Fund on September 13, 2024 and sell it today you would earn a total of 10.00 from holding Astor Longshort Fund or generate 0.71% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Hsbc Treasury Money vs. Astor Longshort Fund
Performance |
| Timeline |
| Hsbc Treasury Money |
| Astor Longshort |
Hsbc Treasury and Astor Longshort Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Hsbc Treasury and Astor Longshort
The main advantage of trading using opposite Hsbc Treasury and Astor Longshort positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Hsbc Treasury position performs unexpectedly, Astor Longshort 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 Longshort will offset losses from the drop in Astor Longshort's long position.| Hsbc Treasury vs. T Rowe Price | Hsbc Treasury vs. Pace Smallmedium Growth | Hsbc Treasury vs. L Abbett Growth | Hsbc Treasury vs. Qs Defensive Growth |
| Astor Longshort vs. Astor Star Fund | Astor Longshort vs. Astor Star Fund | Astor Longshort vs. Astor Longshort Fund | Astor Longshort vs. Astor Longshort 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 AI Portfolio Architect module to use AI to generate optimal portfolios and find profitable investment opportunities.
Other Complementary Tools
| Equity Search Search for actively traded equities including funds and ETFs from over 30 global markets | |
| Portfolio Rebalancing Analyze risk-adjusted returns against different time horizons to find asset-allocation targets | |
| Competition Analyzer Analyze and compare many basic indicators for a group of related or unrelated entities | |
| Equity Valuation Check real value of public entities based on technical and fundamental data | |
| Premium Stories Follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope |