Correlation Between Polen International and Federated Short-intermedia
Can any of the company-specific risk be diversified away by investing in both Polen International and Federated Short-intermedia 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 Polen International and Federated Short-intermedia into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Polen International Small and Federated Short Intermediate Duration, you can compare the effects of market volatilities on Polen International and Federated Short-intermedia 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 Polen International with a short position of Federated Short-intermedia. Check out your portfolio center. Please also check ongoing floating volatility patterns of Polen International and Federated Short-intermedia.
Diversification Opportunities for Polen International and Federated Short-intermedia
-0.08 | Correlation Coefficient |
Good diversification
The 3 months correlation between Polen and FEDERATED is -0.08. Overlapping area represents the amount of risk that can be diversified away by holding Polen International Small and Federated Short Intermediate D in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Federated Short-intermedia and Polen International 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 Polen International Small are associated (or correlated) with Federated Short-intermedia. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Federated Short-intermedia has no effect on the direction of Polen International i.e., Polen International and Federated Short-intermedia go up and down completely randomly.
Pair Corralation between Polen International and Federated Short-intermedia
If you would invest 973.00 in Federated Short Intermediate Duration on August 30, 2024 and sell it today you would earn a total of 29.00 from holding Federated Short Intermediate Duration or generate 2.98% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 0.79% |
| Values | Daily Returns |
Polen International Small vs. Federated Short Intermediate D
Performance |
| Timeline |
| Polen International Small |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| Federated Short-intermedia |
Polen International and Federated Short-intermedia Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Polen International and Federated Short-intermedia
The main advantage of trading using opposite Polen International and Federated Short-intermedia positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Polen International position performs unexpectedly, Federated Short-intermedia 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 Federated Short-intermedia will offset losses from the drop in Federated Short-intermedia's long position.| Polen International vs. Siit Ultra Short | Polen International vs. Sterling Capital Short | Polen International vs. Rbc Short Duration | Polen International vs. Federated Short Intermediate Duration |
| Federated Short-intermedia vs. M Large Cap | Federated Short-intermedia vs. Vanguard Equity Income | Federated Short-intermedia vs. American Mutual Fund | Federated Short-intermedia vs. Fundamental Large 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 My Watchlist Analysis module to analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like.
Other Complementary Tools
| Performance Analysis Check effects of mean-variance optimization against your current asset allocation | |
| Portfolio File Import Quickly import all of your third-party portfolios from your local drive in csv format | |
| Risk-Return Analysis View associations between returns expected from investment and the risk you assume | |
| Pattern Recognition Use different Pattern Recognition models to time the market across multiple global exchanges | |
| Fundamentals Comparison Compare fundamentals across multiple equities to find investing opportunities |