Correlation Between Loomis Sayles and Jhancock Global
Can any of the company-specific risk be diversified away by investing in both Loomis Sayles and Jhancock 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 Jhancock Global into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Loomis Sayles Inflation and Jhancock Global Equity, you can compare the effects of market volatilities on Loomis Sayles and Jhancock 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 Jhancock Global. Check out your portfolio center. Please also check ongoing floating volatility patterns of Loomis Sayles and Jhancock Global.
Diversification Opportunities for Loomis Sayles and Jhancock Global
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Loomis and Jhancock is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Loomis Sayles Inflation and Jhancock Global Equity in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Jhancock Global Equity 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 Inflation are associated (or correlated) with Jhancock Global. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Jhancock Global Equity has no effect on the direction of Loomis Sayles i.e., Loomis Sayles and Jhancock Global go up and down completely randomly.
Pair Corralation between Loomis Sayles and Jhancock Global
Assuming the 90 days horizon Loomis Sayles Inflation is expected to under-perform the Jhancock Global. But the mutual fund apears to be less risky and, when comparing its historical volatility, Loomis Sayles Inflation is 1.89 times less risky than Jhancock Global. The mutual fund trades about -0.05 of its potential returns per unit of risk. The Jhancock Global Equity is currently generating about 0.0 of returns per unit of risk over similar time horizon. If you would invest 1,381 in Jhancock Global Equity on September 13, 2024 and sell it today you would lose (1.00) from holding Jhancock Global Equity or give up 0.07% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Loomis Sayles Inflation vs. Jhancock Global Equity
Performance |
| Timeline |
| Loomis Sayles Inflation |
| Jhancock Global Equity |
Loomis Sayles and Jhancock Global Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Loomis Sayles and Jhancock Global
The main advantage of trading using opposite Loomis Sayles and Jhancock Global positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Loomis Sayles position performs unexpectedly, Jhancock 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 Jhancock Global will offset losses from the drop in Jhancock Global's long position.| Loomis Sayles vs. Smallcap Growth Fund | Loomis Sayles vs. Df Dent Small | Loomis Sayles vs. Lebenthal Lisanti Small | Loomis Sayles vs. Scout Small Cap |
| Jhancock Global vs. Regional Bank Fund | Jhancock Global vs. Regional Bank Fund | Jhancock Global vs. Multimanager Lifestyle Moderate | Jhancock Global vs. Multimanager Lifestyle Balanced |
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 Funds Screener module to find actively-traded funds from around the world traded on over 30 global exchanges.
Other Complementary Tools
| Analyst Advice Analyst recommendations and target price estimates broken down by several categories | |
| Watchlist Optimization Optimize watchlists to build efficient portfolios or rebalance existing positions based on the mean-variance optimization algorithm | |
| Bond Analysis Evaluate and analyze corporate bonds as a potential investment for your portfolios. | |
| Investing Opportunities Build portfolios using our predefined set of ideas and optimize them against your investing preferences | |
| Portfolio File Import Quickly import all of your third-party portfolios from your local drive in csv format |