Correlation Between Amg Gwk and Angel Oak
Can any of the company-specific risk be diversified away by investing in both Amg Gwk and Angel Oak 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 Amg Gwk and Angel Oak into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Amg Gwk Enhanced and Angel Oak Ultrashort, you can compare the effects of market volatilities on Amg Gwk and Angel Oak 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 Amg Gwk with a short position of Angel Oak. Check out your portfolio center. Please also check ongoing floating volatility patterns of Amg Gwk and Angel Oak.
Diversification Opportunities for Amg Gwk and Angel Oak
Very poor diversification
The 3 months correlation between Amg and Angel is 0.88. Overlapping area represents the amount of risk that can be diversified away by holding Amg Gwk Enhanced and Angel Oak Ultrashort in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Angel Oak Ultrashort and Amg Gwk 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 Amg Gwk Enhanced are associated (or correlated) with Angel Oak. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Angel Oak Ultrashort has no effect on the direction of Amg Gwk i.e., Amg Gwk and Angel Oak go up and down completely randomly.
Pair Corralation between Amg Gwk and Angel Oak
If you would invest 979.00 in Angel Oak Ultrashort on August 29, 2024 and sell it today you would earn a total of 3.00 from holding Angel Oak Ultrashort or generate 0.31% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 4.55% |
| Values | Daily Returns |
Amg Gwk Enhanced vs. Angel Oak Ultrashort
Performance |
| Timeline |
| Amg Gwk Enhanced |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| Angel Oak Ultrashort |
Amg Gwk and Angel Oak Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Amg Gwk and Angel Oak
The main advantage of trading using opposite Amg Gwk and Angel Oak positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Amg Gwk position performs unexpectedly, Angel Oak 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 Angel Oak will offset losses from the drop in Angel Oak's long position.| Amg Gwk vs. Angel Oak Ultrashort | Amg Gwk vs. Calvert Short Duration | Amg Gwk vs. Astor Longshort Fund | Amg Gwk vs. Rbc Short Duration |
| Angel Oak vs. Angel Oak Multi Strategy | Angel Oak vs. Angel Oak Multi Strategy | Angel Oak vs. Doubleline Income Solutions | Angel Oak vs. Angel Oak Ultrashort |
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 Money Managers module to screen money managers from public funds and ETFs managed around the world.
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