Correlation Between Alternative Asset and John Hancock
Can any of the company-specific risk be diversified away by investing in both Alternative Asset and John Hancock 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 Alternative Asset and John Hancock into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Alternative Asset Allocation and John Hancock Money, you can compare the effects of market volatilities on Alternative Asset and John Hancock 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 Alternative Asset with a short position of John Hancock. Check out your portfolio center. Please also check ongoing floating volatility patterns of Alternative Asset and John Hancock.
Diversification Opportunities for Alternative Asset and John Hancock
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Alternative and John is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Alternative Asset Allocation and John Hancock Money in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on John Hancock Money and Alternative Asset 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 Alternative Asset Allocation are associated (or correlated) with John Hancock. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of John Hancock Money has no effect on the direction of Alternative Asset i.e., Alternative Asset and John Hancock go up and down completely randomly.
Pair Corralation between Alternative Asset and John Hancock
If you would invest 1,505 in Alternative Asset Allocation on November 3, 2024 and sell it today you would earn a total of 108.00 from holding Alternative Asset Allocation or generate 7.18% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 97.57% |
| Values | Daily Returns |
Alternative Asset Allocation vs. John Hancock Money
Performance |
| Timeline |
| Alternative Asset |
| John Hancock Money |
Alternative Asset and John Hancock Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Alternative Asset and John Hancock
The main advantage of trading using opposite Alternative Asset and John Hancock positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Alternative Asset position performs unexpectedly, John Hancock 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 John Hancock will offset losses from the drop in John Hancock's long position.| Alternative Asset vs. Allianzgi Convertible Income | Alternative Asset vs. Virtus Convertible | Alternative Asset vs. Advent Claymore Convertible | Alternative Asset vs. Columbia Convertible Securities |
| John Hancock vs. Dunham Porategovernment Bond | John Hancock vs. Voya Government Money | John Hancock vs. Federated Government Income | John Hancock vs. Federated Government Income |
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 Portfolio Manager module to state of the art Portfolio Manager to monitor and improve performance of your invested capital.
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