Correlation Between Franklin Floating and INVESCO 2
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By analyzing existing cross correlation between Franklin Floating Rate and INVESCO 2 BOND, you can compare the effects of market volatilities on Franklin Floating and INVESCO 2 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 Franklin Floating with a short position of INVESCO 2. Check out your portfolio center. Please also check ongoing floating volatility patterns of Franklin Floating and INVESCO 2.
Diversification Opportunities for Franklin Floating and INVESCO 2
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Franklin and INVESCO is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Franklin Floating Rate and INVESCO 2 BOND in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on INVESCO 2 BOND and Franklin Floating 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 Franklin Floating Rate are associated (or correlated) with INVESCO 2. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of INVESCO 2 BOND has no effect on the direction of Franklin Floating i.e., Franklin Floating and INVESCO 2 go up and down completely randomly.
Pair Corralation between Franklin Floating and INVESCO 2
If you would invest 1,698 in Franklin Floating Rate on September 15, 2024 and sell it today you would earn a total of 155.00 from holding Franklin Floating Rate or generate 9.13% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Franklin Floating Rate vs. INVESCO 2 BOND
Performance |
| Timeline |
| Franklin Floating Rate |
| INVESCO 2 BOND |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Franklin Floating and INVESCO 2 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Franklin Floating and INVESCO 2
The main advantage of trading using opposite Franklin Floating and INVESCO 2 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Franklin Floating position performs unexpectedly, INVESCO 2 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 INVESCO 2 will offset losses from the drop in INVESCO 2's long position.| Franklin Floating vs. KLP AksjeNorge Indeks | Franklin Floating vs. Nordea 1 | Franklin Floating vs. Nordnet One Forsiktig | Franklin Floating vs. DNB Norge Selektiv |
| INVESCO 2 vs. KLP AksjeNorge Indeks | INVESCO 2 vs. Nordea 1 | INVESCO 2 vs. Franklin Floating Rate | INVESCO 2 vs. Nordnet One Forsiktig |
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 Theme Ratings module to determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance.
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