Correlation Between Loomis Sayles and Asg Global
Can any of the company-specific risk be diversified away by investing in both Loomis Sayles and Asg Global 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 Loomis Sayles and Asg Global into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Loomis Sayles Investment and Asg Global Alternatives, you can compare the effects of market volatilities on Loomis Sayles and Asg Global 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 Loomis Sayles with a short position of Asg Global. Check out your portfolio center. Please also check ongoing floating volatility patterns of Loomis Sayles and Asg Global.
Diversification Opportunities for Loomis Sayles and Asg Global
-0.39 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Loomis and Asg is -0.39. Overlapping area represents the amount of risk that can be diversified away by holding Loomis Sayles Investment and Asg Global Alternatives in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Asg Global Alternatives and Loomis Sayles 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 Loomis Sayles Investment are associated (or correlated) with Asg Global. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Asg Global Alternatives has no effect on the direction of Loomis Sayles i.e., Loomis Sayles and Asg Global go up and down completely randomly.
Pair Corralation between Loomis Sayles and Asg Global
Assuming the 90 days horizon Loomis Sayles Investment is expected to under-perform the Asg Global. But the mutual fund apears to be less risky and, when comparing its historical volatility, Loomis Sayles Investment is 1.51 times less risky than Asg Global. The mutual fund trades about -0.06 of its potential returns per unit of risk. The Asg Global Alternatives is currently generating about 0.1 of returns per unit of risk over similar time horizon. If you would invest 1,061 in Asg Global Alternatives on August 28, 2024 and sell it today you would earn a total of 29.00 from holding Asg Global Alternatives or generate 2.73% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Loomis Sayles Investment vs. Asg Global Alternatives
Performance |
| Timeline |
| Loomis Sayles Investment |
| Asg Global Alternatives |
Loomis Sayles and Asg Global Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Loomis Sayles and Asg Global
The main advantage of trading using opposite Loomis Sayles and Asg Global positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Loomis Sayles position performs unexpectedly, Asg Global 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 Asg Global will offset losses from the drop in Asg Global's long position.| Loomis Sayles vs. Archer Balanced Fund | Loomis Sayles vs. Qs Growth Fund | Loomis Sayles vs. Qs Large Cap | Loomis Sayles vs. Blackrock Sm Cap |
| Asg Global vs. Asg Managed Futures | Asg Global vs. Asg Managed Futures | Asg Global vs. Natixis Oakmark | Asg Global vs. Natixis Oakmark International |
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 Commodity Channel module to use Commodity Channel Index to analyze current equity momentum.
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