Correlation Between Fundvantage Trust and Loomis Sayles
Can any of the company-specific risk be diversified away by investing in both Fundvantage Trust and Loomis Sayles 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 Fundvantage Trust and Loomis Sayles into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Fundvantage Trust and Loomis Sayles Limited, you can compare the effects of market volatilities on Fundvantage Trust and Loomis Sayles 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 Fundvantage Trust with a short position of Loomis Sayles. Check out your portfolio center. Please also check ongoing floating volatility patterns of Fundvantage Trust and Loomis Sayles.
Diversification Opportunities for Fundvantage Trust and Loomis Sayles
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Fundvantage and Loomis is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Fundvantage Trust and Loomis Sayles Limited in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Loomis Sayles Limited and Fundvantage Trust 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 Fundvantage Trust are associated (or correlated) with Loomis Sayles. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Loomis Sayles Limited has no effect on the direction of Fundvantage Trust i.e., Fundvantage Trust and Loomis Sayles go up and down completely randomly.
Pair Corralation between Fundvantage Trust and Loomis Sayles
Assuming the 90 days horizon Fundvantage Trust is expected to generate 331.57 times more return on investment than Loomis Sayles. However, Fundvantage Trust is 331.57 times more volatile than Loomis Sayles Limited. It trades about 0.06 of its potential returns per unit of risk. Loomis Sayles Limited is currently generating about 0.1 per unit of risk. If you would invest 1.00 in Fundvantage Trust on September 3, 2024 and sell it today you would earn a total of 99.00 from holding Fundvantage Trust or generate 9900.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 63.43% |
| Values | Daily Returns |
Fundvantage Trust vs. Loomis Sayles Limited
Performance |
| Timeline |
| Fundvantage Trust |
| Loomis Sayles Limited |
Fundvantage Trust and Loomis Sayles Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Fundvantage Trust and Loomis Sayles
The main advantage of trading using opposite Fundvantage Trust and Loomis Sayles positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Fundvantage Trust position performs unexpectedly, Loomis Sayles 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 Loomis Sayles will offset losses from the drop in Loomis Sayles' long position.| Fundvantage Trust vs. Vanguard Total Stock | Fundvantage Trust vs. Vanguard 500 Index | Fundvantage Trust vs. Vanguard Total Stock | Fundvantage Trust vs. Vanguard Total Stock |
| Loomis Sayles vs. Shelton Emerging Markets | Loomis Sayles vs. Fundvantage Trust | Loomis Sayles vs. Locorr Market Trend | Loomis Sayles vs. The Emerging Markets |
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 Idea Analyzer module to analyze all characteristics, volatility and risk-adjusted return of Macroaxis ideas.
Other Complementary Tools
| CEOs Directory Screen CEOs from public companies around the world | |
| Commodity Directory Find actively traded commodities issued by global exchanges | |
| Bonds Directory Find actively traded corporate debentures issued by US companies | |
| Financial Widgets Easily integrated Macroaxis content with over 30 different plug-and-play financial widgets | |
| Money Flow Index Determine momentum by analyzing Money Flow Index and other technical indicators |