Correlation Between Aim Counselor and Aim International
Can any of the company-specific risk be diversified away by investing in both Aim Counselor and Aim International 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 Aim Counselor and Aim International into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Aim Counselor Series and Aim International Mutual, you can compare the effects of market volatilities on Aim Counselor and Aim International 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 Aim Counselor with a short position of Aim International. Check out your portfolio center. Please also check ongoing floating volatility patterns of Aim Counselor and Aim International.
Diversification Opportunities for Aim Counselor and Aim International
-0.15 | Correlation Coefficient |
Good diversification
The 3 months correlation between Aim and Aim is -0.15. Overlapping area represents the amount of risk that can be diversified away by holding Aim Counselor Series and Aim International Mutual in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Aim International Mutual and Aim Counselor 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 Aim Counselor Series are associated (or correlated) with Aim International. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Aim International Mutual has no effect on the direction of Aim Counselor i.e., Aim Counselor and Aim International go up and down completely randomly.
Pair Corralation between Aim Counselor and Aim International
If you would invest (100.00) in Aim International Mutual on September 3, 2024 and sell it today you would earn a total of 100.00 from holding Aim International Mutual or generate -100.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Aim Counselor Series vs. Aim International Mutual
Performance |
| Timeline |
| Aim Counselor Series |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| Aim International Mutual |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Aim Counselor and Aim International Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Aim Counselor and Aim International
The main advantage of trading using opposite Aim Counselor and Aim International positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Aim Counselor position performs unexpectedly, Aim International 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 Aim International will offset losses from the drop in Aim International's long position.| Aim Counselor vs. T Rowe Price | Aim Counselor vs. Franklin Lifesmart 2050 | Aim Counselor vs. T Rowe Price | Aim Counselor vs. T Rowe Price |
| Aim International vs. Prudential Jennison Financial | Aim International vs. Davis Financial Fund | Aim International vs. 1919 Financial Services | Aim International vs. Angel Oak Financial |
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 Headlines Timeline module to stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity.
Other Complementary Tools
| Price Ceiling Movement Calculate and plot Price Ceiling Movement for different equity instruments | |
| Pattern Recognition Use different Pattern Recognition models to time the market across multiple global exchanges | |
| Financial Widgets Easily integrated Macroaxis content with over 30 different plug-and-play financial widgets | |
| Bond Analysis Evaluate and analyze corporate bonds as a potential investment for your portfolios. | |
| Portfolio Suggestion Get suggestions outside of your existing asset allocation including your own model portfolios |