Correlation Between Invesco Sterling and Franklin Floating
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By analyzing existing cross correlation between Invesco Sterling Bond and Franklin Floating Rate, you can compare the effects of market volatilities on Invesco Sterling and Franklin Floating 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 Invesco Sterling with a short position of Franklin Floating. Check out your portfolio center. Please also check ongoing floating volatility patterns of Invesco Sterling and Franklin Floating.
Diversification Opportunities for Invesco Sterling and Franklin Floating
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Invesco and Franklin is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Invesco Sterling Bond and Franklin Floating Rate in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Franklin Floating Rate and Invesco Sterling 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 Invesco Sterling Bond are associated (or correlated) with Franklin Floating. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Franklin Floating Rate has no effect on the direction of Invesco Sterling i.e., Invesco Sterling and Franklin Floating go up and down completely randomly.
Pair Corralation between Invesco Sterling and Franklin Floating
If you would invest 1,500 in Franklin Floating Rate on September 14, 2024 and sell it today you would earn a total of 352.00 from holding Franklin Floating Rate or generate 23.47% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Invesco Sterling Bond vs. Franklin Floating Rate
Performance |
| Timeline |
| Invesco Sterling Bond |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| Franklin Floating Rate |
Invesco Sterling and Franklin Floating Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Invesco Sterling and Franklin Floating
The main advantage of trading using opposite Invesco Sterling and Franklin Floating positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Invesco Sterling position performs unexpectedly, Franklin Floating 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 Franklin Floating will offset losses from the drop in Franklin Floating's long position.| Invesco Sterling vs. KLP AksjeNorge Indeks | Invesco Sterling vs. Storebrand Global Solutions | Invesco Sterling vs. Nordea 1 | Invesco Sterling vs. Franklin Floating Rate |
| Franklin Floating vs. Franklin Floating Rate | Franklin Floating vs. Franklin Floating Rate | Franklin Floating vs. KLP AksjeNorge Indeks | Franklin Floating vs. Storebrand Global Solutions |
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 Technical Analysis module to check basic technical indicators and analysis based on most latest market data.
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