Correlation Between Franklin Floating and Invesco Sterling
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By analyzing existing cross correlation between Franklin Floating Rate and Invesco Sterling Bond, you can compare the effects of market volatilities on Franklin Floating and Invesco Sterling 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 Sterling. Check out your portfolio center. Please also check ongoing floating volatility patterns of Franklin Floating and Invesco Sterling.
Diversification Opportunities for Franklin Floating and Invesco Sterling
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 Sterling Bond in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Invesco Sterling 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 Sterling. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Invesco Sterling Bond has no effect on the direction of Franklin Floating i.e., Franklin Floating and Invesco Sterling go up and down completely randomly.
Pair Corralation between Franklin Floating and Invesco Sterling
If you would invest 1,835 in Franklin Floating Rate on September 15, 2024 and sell it today you would earn a total of 18.00 from holding Franklin Floating Rate or generate 0.98% 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 Sterling Bond
Performance |
| Timeline |
| Franklin Floating Rate |
| Invesco Sterling Bond |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Franklin Floating and Invesco Sterling Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Franklin Floating and Invesco Sterling
The main advantage of trading using opposite Franklin Floating and Invesco Sterling positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Franklin Floating position performs unexpectedly, Invesco Sterling 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 Sterling will offset losses from the drop in Invesco Sterling'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 Sterling vs. KLP AksjeNorge Indeks | Invesco Sterling vs. Storebrand Global Solutions | Invesco Sterling vs. Nordea 1 | Invesco Sterling vs. Franklin Floating Rate |
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 Stocks Directory module to find actively traded stocks across global markets.
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