Correlation Between Oberweis China and Artisan Global
Can any of the company-specific risk be diversified away by investing in both Oberweis China and Artisan Global 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 Oberweis China and Artisan Global into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Oberweis China Opportunities and Artisan Global Opportunities, you can compare the effects of market volatilities on Oberweis China and Artisan Global 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 Oberweis China with a short position of Artisan Global. Check out your portfolio center. Please also check ongoing floating volatility patterns of Oberweis China and Artisan Global.
Diversification Opportunities for Oberweis China and Artisan Global
-0.12 | Correlation Coefficient |
Good diversification
The 3 months correlation between Oberweis and Artisan is -0.12. Overlapping area represents the amount of risk that can be diversified away by holding Oberweis China Opportunities and Artisan Global Opportunities in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Artisan Global Oppor and Oberweis China 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 Oberweis China Opportunities are associated (or correlated) with Artisan Global. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Artisan Global Oppor has no effect on the direction of Oberweis China i.e., Oberweis China and Artisan Global go up and down completely randomly.
Pair Corralation between Oberweis China and Artisan Global
Assuming the 90 days horizon Oberweis China Opportunities is expected to generate 3.14 times more return on investment than Artisan Global. However, Oberweis China is 3.14 times more volatile than Artisan Global Opportunities. It trades about 0.18 of its potential returns per unit of risk. Artisan Global Opportunities is currently generating about -0.23 per unit of risk. If you would invest 716.00 in Oberweis China Opportunities on December 1, 2024 and sell it today you would earn a total of 62.00 from holding Oberweis China Opportunities or generate 8.66% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Oberweis China Opportunities vs. Artisan Global Opportunities
Performance |
| Timeline |
| Oberweis China Oppor |
| Artisan Global Oppor |
Oberweis China and Artisan Global Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Oberweis China and Artisan Global
The main advantage of trading using opposite Oberweis China and Artisan Global positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Oberweis China position performs unexpectedly, Artisan Global 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 Artisan Global will offset losses from the drop in Artisan Global's long position.| Oberweis China vs. Matthews China Fund | Oberweis China vs. T Rowe Price | Oberweis China vs. Matthews India Fund | Oberweis China vs. Guinness Atkinson China |
| Artisan Global vs. Artisan Global Value | Artisan Global vs. Artisan Global Equity | Artisan Global vs. Artisan International Value | Artisan Global vs. Artisan Small Cap |
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 Commodity Directory module to find actively traded commodities issued by global exchanges.
Other Complementary Tools
| Financial Widgets Easily integrated Macroaxis content with over 30 different plug-and-play financial widgets | |
| Latest Portfolios Quick portfolio dashboard that showcases your latest portfolios | |
| Technical Analysis Check basic technical indicators and analysis based on most latest market data | |
| Portfolio File Import Quickly import all of your third-party portfolios from your local drive in csv format | |
| Top Crypto Exchanges Search and analyze digital assets across top global cryptocurrency exchanges |