Correlation Between Aqr Long-short and Franklin All
Can any of the company-specific risk be diversified away by investing in both Aqr Long-short and Franklin All 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 Franklin All 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 Franklin All Cap, you can compare the effects of market volatilities on Aqr Long-short and Franklin All 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 Franklin All. Check out your portfolio center. Please also check ongoing floating volatility patterns of Aqr Long-short and Franklin All.
Diversification Opportunities for Aqr Long-short and Franklin All
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Aqr and Franklin is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Aqr Long Short Equity and Franklin All Cap in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Franklin All Cap 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 Franklin All. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Franklin All Cap has no effect on the direction of Aqr Long-short i.e., Aqr Long-short and Franklin All go up and down completely randomly.
Pair Corralation between Aqr Long-short and Franklin All
If you would invest 1,620 in Aqr Long Short Equity on August 30, 2024 and sell it today you would earn a total of 79.00 from holding Aqr Long Short Equity or generate 4.88% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Aqr Long Short Equity vs. Franklin All Cap
Performance |
| Timeline |
| Aqr Long Short |
| Franklin All Cap |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Aqr Long-short and Franklin All Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Aqr Long-short and Franklin All
The main advantage of trading using opposite Aqr Long-short and Franklin All positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Aqr Long-short position performs unexpectedly, Franklin All 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 Franklin All will offset losses from the drop in Franklin All's long position.| Aqr Long-short vs. Nova Fund Class | Aqr Long-short vs. Volumetric Fund Volumetric | Aqr Long-short vs. Qs Growth Fund | Aqr Long-short vs. Versatile Bond Portfolio |
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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 Financial Widgets module to easily integrated Macroaxis content with over 30 different plug-and-play financial widgets.
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