Correlation Between Aqr Long-short and Amg Managers
Can any of the company-specific risk be diversified away by investing in both Aqr Long-short and Amg Managers 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 Aqr Long-short and Amg Managers into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Aqr Long Short Equity and Amg Managers Global, you can compare the effects of market volatilities on Aqr Long-short and Amg Managers 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 Aqr Long-short with a short position of Amg Managers. Check out your portfolio center. Please also check ongoing floating volatility patterns of Aqr Long-short and Amg Managers.
Diversification Opportunities for Aqr Long-short and Amg Managers
-0.41 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Aqr and Amg is -0.41. Overlapping area represents the amount of risk that can be diversified away by holding Aqr Long Short Equity and Amg Managers Global in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Amg Managers Global and Aqr Long-short 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 Aqr Long Short Equity are associated (or correlated) with Amg Managers. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Amg Managers Global has no effect on the direction of Aqr Long-short i.e., Aqr Long-short and Amg Managers go up and down completely randomly.
Pair Corralation between Aqr Long-short and Amg Managers
If you would invest 1,043 in Aqr Long Short Equity on August 27, 2024 and sell it today you would earn a total of 602.00 from holding Aqr Long Short Equity or generate 57.72% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 0.2% |
| Values | Daily Returns |
Aqr Long Short Equity vs. Amg Managers Global
Performance |
| Timeline |
| Aqr Long Short |
| Amg Managers Global |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Strong
Aqr Long-short and Amg Managers Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Aqr Long-short and Amg Managers
The main advantage of trading using opposite Aqr Long-short and Amg Managers positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Aqr Long-short position performs unexpectedly, Amg Managers 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 Amg Managers will offset losses from the drop in Amg Managers' long position.| Aqr Long-short vs. Growth Fund Of | Aqr Long-short vs. Chase Growth Fund | Aqr Long-short vs. Champlain Mid Cap | Aqr Long-short vs. Small Pany Growth |
| Amg Managers vs. Prudential Global Total | Amg Managers vs. Msvif Emerging Mkts | Amg Managers vs. Loomis Sayles Global | Amg Managers vs. Amg Managers Loomis |
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 Stock Tickers module to use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites.
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