Correlation Between Mesirow Financial and Loomis Sayles
Can any of the company-specific risk be diversified away by investing in both Mesirow Financial and Loomis Sayles 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 Mesirow Financial and Loomis Sayles into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Mesirow Financial High and Loomis Sayles International, you can compare the effects of market volatilities on Mesirow Financial and Loomis Sayles 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 Mesirow Financial with a short position of Loomis Sayles. Check out your portfolio center. Please also check ongoing floating volatility patterns of Mesirow Financial and Loomis Sayles.
Diversification Opportunities for Mesirow Financial and Loomis Sayles
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Mesirow and Loomis is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Mesirow Financial High and Loomis Sayles International in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Loomis Sayles Intern and Mesirow Financial 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 Mesirow Financial High are associated (or correlated) with Loomis Sayles. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Loomis Sayles Intern has no effect on the direction of Mesirow Financial i.e., Mesirow Financial and Loomis Sayles go up and down completely randomly.
Pair Corralation between Mesirow Financial and Loomis Sayles
If you would invest 696.00 in Mesirow Financial High on September 3, 2024 and sell it today you would earn a total of 160.00 from holding Mesirow Financial High or generate 22.99% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Mesirow Financial High vs. Loomis Sayles International
Performance |
| Timeline |
| Mesirow Financial High |
| Loomis Sayles Intern |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
OK
Mesirow Financial and Loomis Sayles Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Mesirow Financial and Loomis Sayles
The main advantage of trading using opposite Mesirow Financial and Loomis Sayles positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Mesirow Financial position performs unexpectedly, Loomis Sayles 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 Loomis Sayles will offset losses from the drop in Loomis Sayles' long position.| Mesirow Financial vs. Kinetics Market Opportunities | Mesirow Financial vs. Calamos Market Neutral | Mesirow Financial vs. Locorr Market Trend | Mesirow Financial vs. Morgan Stanley Emerging |
| Loomis Sayles vs. Blackrock Science Technology | Loomis Sayles vs. Biotechnology Ultrasector Profund | Loomis Sayles vs. Vanguard Information Technology | Loomis Sayles vs. Janus Global Technology |
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 CEOs Directory module to screen CEOs from public companies around the world.
Other Complementary Tools
| Insider Screener Find insiders across different sectors to evaluate their impact on performance | |
| Aroon Oscillator Analyze current equity momentum using Aroon Oscillator and other momentum ratios | |
| Portfolio Diagnostics Use generated alerts and portfolio events aggregator to diagnose current holdings | |
| Pair Correlation Compare performance and examine fundamental relationship between any two equity instruments | |
| Idea Breakdown Analyze constituents of all Macroaxis ideas. Macroaxis investment ideas are predefined, sector-focused investing themes |