Correlation Between Needham Aggressive and Baillie Gifford
Can any of the company-specific risk be diversified away by investing in both Needham Aggressive and Baillie Gifford 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 Needham Aggressive and Baillie Gifford into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Needham Aggressive Growth and Baillie Gifford The, you can compare the effects of market volatilities on Needham Aggressive and Baillie Gifford 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 Needham Aggressive with a short position of Baillie Gifford. Check out your portfolio center. Please also check ongoing floating volatility patterns of Needham Aggressive and Baillie Gifford.
Diversification Opportunities for Needham Aggressive and Baillie Gifford
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Needham and Baillie is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Needham Aggressive Growth and Baillie Gifford The in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Baillie Gifford and Needham Aggressive 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 Needham Aggressive Growth are associated (or correlated) with Baillie Gifford. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Baillie Gifford has no effect on the direction of Needham Aggressive i.e., Needham Aggressive and Baillie Gifford go up and down completely randomly.
Pair Corralation between Needham Aggressive and Baillie Gifford
If you would invest 4,507 in Needham Aggressive Growth on November 3, 2024 and sell it today you would earn a total of 535.00 from holding Needham Aggressive Growth or generate 11.87% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Needham Aggressive Growth vs. Baillie Gifford The
Performance |
| Timeline |
| Needham Aggressive Growth |
| Baillie Gifford |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Needham Aggressive and Baillie Gifford Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Needham Aggressive and Baillie Gifford
The main advantage of trading using opposite Needham Aggressive and Baillie Gifford positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Needham Aggressive position performs unexpectedly, Baillie Gifford 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 Baillie Gifford will offset losses from the drop in Baillie Gifford's long position.| Needham Aggressive vs. Needham Aggressive Growth | Needham Aggressive vs. Needham Small Cap | Needham Aggressive vs. Ultramid Cap Profund Ultramid Cap | Needham Aggressive vs. Fidelity Advisor Semiconductors |
| Baillie Gifford vs. Siit High Yield | Baillie Gifford vs. Multisector Bond Sma | Baillie Gifford vs. Angel Oak Financial | Baillie Gifford vs. Ab Bond Inflation |
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 Share Portfolio module to track or share privately all of your investments from the convenience of any device.
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