Correlation Between Janus Triton and Segall Bryant
Can any of the company-specific risk be diversified away by investing in both Janus Triton and Segall Bryant 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 Janus Triton and Segall Bryant into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Janus Triton Fund and Segall Bryant Hamill, you can compare the effects of market volatilities on Janus Triton and Segall Bryant 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 Janus Triton with a short position of Segall Bryant. Check out your portfolio center. Please also check ongoing floating volatility patterns of Janus Triton and Segall Bryant.
Diversification Opportunities for Janus Triton and Segall Bryant
0.98 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Janus and Segall is 0.98. Overlapping area represents the amount of risk that can be diversified away by holding Janus Triton Fund and Segall Bryant Hamill in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Segall Bryant Hamill and Janus Triton 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 Janus Triton Fund are associated (or correlated) with Segall Bryant. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Segall Bryant Hamill has no effect on the direction of Janus Triton i.e., Janus Triton and Segall Bryant go up and down completely randomly.
Pair Corralation between Janus Triton and Segall Bryant
Assuming the 90 days horizon Janus Triton is expected to generate 1.07 times less return on investment than Segall Bryant. But when comparing it to its historical volatility, Janus Triton Fund is 1.23 times less risky than Segall Bryant. It trades about 0.11 of its potential returns per unit of risk. Segall Bryant Hamill is currently generating about 0.1 of returns per unit of risk over similar time horizon. If you would invest 1,237 in Segall Bryant Hamill on September 1, 2024 and sell it today you would earn a total of 189.00 from holding Segall Bryant Hamill or generate 15.28% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 99.21% |
| Values | Daily Returns |
Janus Triton Fund vs. Segall Bryant Hamill
Performance |
| Timeline |
| Janus Triton |
| Segall Bryant Hamill |
Janus Triton and Segall Bryant Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Janus Triton and Segall Bryant
The main advantage of trading using opposite Janus Triton and Segall Bryant positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Janus Triton position performs unexpectedly, Segall Bryant 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 Segall Bryant will offset losses from the drop in Segall Bryant's long position.| Janus Triton vs. Blackrock Sp 500 | Janus Triton vs. Janus Enterprise Fund | Janus Triton vs. Columbia Small Cap | Janus Triton vs. John Hancock Disciplined |
| Segall Bryant vs. World Energy Fund | Segall Bryant vs. Ivy Energy Fund | Segall Bryant vs. Oil Gas Ultrasector | Segall Bryant vs. Jennison Natural Resources |
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 Efficient Frontier module to plot and analyze your portfolio and positions against risk-return landscape of the market..
Other Complementary Tools
| Fundamentals Comparison Compare fundamentals across multiple equities to find investing opportunities | |
| Piotroski F Score Get Piotroski F Score based on the binary analysis strategy of nine different fundamentals | |
| Money Flow Index Determine momentum by analyzing Money Flow Index and other technical indicators | |
| Alpha Finder Use alpha and beta coefficients to find investment opportunities after accounting for the risk | |
| Content Syndication Quickly integrate customizable finance content to your own investment portal |