Correlation Between Loomis Sayles and Janus Venture
Can any of the company-specific risk be diversified away by investing in both Loomis Sayles and Janus Venture 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 Janus Venture into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Loomis Sayles E and Janus Venture Fund, you can compare the effects of market volatilities on Loomis Sayles and Janus Venture 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 Janus Venture. Check out your portfolio center. Please also check ongoing floating volatility patterns of Loomis Sayles and Janus Venture.
Diversification Opportunities for Loomis Sayles and Janus Venture
-0.62 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Loomis and Janus is -0.62. Overlapping area represents the amount of risk that can be diversified away by holding Loomis Sayles E and Janus Venture Fund in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Janus Venture 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 E are associated (or correlated) with Janus Venture. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Janus Venture has no effect on the direction of Loomis Sayles i.e., Loomis Sayles and Janus Venture go up and down completely randomly.
Pair Corralation between Loomis Sayles and Janus Venture
Assuming the 90 days horizon Loomis Sayles is expected to generate 14.36 times less return on investment than Janus Venture. But when comparing it to its historical volatility, Loomis Sayles E is 3.47 times less risky than Janus Venture. It trades about 0.06 of its potential returns per unit of risk. Janus Venture Fund is currently generating about 0.27 of returns per unit of risk over similar time horizon. If you would invest 9,042 in Janus Venture Fund on September 5, 2024 and sell it today you would earn a total of 703.00 from holding Janus Venture Fund or generate 7.77% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Loomis Sayles E vs. Janus Venture Fund
Performance |
| Timeline |
| Loomis Sayles E |
| Janus Venture |
Loomis Sayles and Janus Venture Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Loomis Sayles and Janus Venture
The main advantage of trading using opposite Loomis Sayles and Janus Venture positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Loomis Sayles position performs unexpectedly, Janus Venture 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 Janus Venture will offset losses from the drop in Janus Venture's long position.| Loomis Sayles vs. Asg Managed Futures | Loomis Sayles vs. Asg Managed Futures | Loomis Sayles vs. Natixis Oakmark | Loomis Sayles vs. Natixis Oakmark International |
| Janus Venture vs. Jackson Square Smid Cap | Janus Venture vs. Franklin Growth Fund | Janus Venture vs. Pimco Small Cap | Janus Venture vs. Loomis Sayles E |
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 FinTech Suite module to use AI to screen and filter profitable investment opportunities.
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