Correlation Between Aqr Managed and Putnam Global
Can any of the company-specific risk be diversified away by investing in both Aqr Managed and Putnam 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 Aqr Managed and Putnam Global into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Aqr Managed Futures and Putnam Global Industrials, you can compare the effects of market volatilities on Aqr Managed and Putnam 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 Aqr Managed with a short position of Putnam Global. Check out your portfolio center. Please also check ongoing floating volatility patterns of Aqr Managed and Putnam Global.
Diversification Opportunities for Aqr Managed and Putnam Global
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Aqr and Putnam is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Aqr Managed Futures and Putnam Global Industrials in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Putnam Global Industrials and Aqr Managed 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 Managed Futures are associated (or correlated) with Putnam Global. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Putnam Global Industrials has no effect on the direction of Aqr Managed i.e., Aqr Managed and Putnam Global go up and down completely randomly.
Pair Corralation between Aqr Managed and Putnam Global
If you would invest 806.00 in Aqr Managed Futures on September 12, 2024 and sell it today you would earn a total of 31.00 from holding Aqr Managed Futures or generate 3.85% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 1.59% |
| Values | Daily Returns |
Aqr Managed Futures vs. Putnam Global Industrials
Performance |
| Timeline |
| Aqr Managed Futures |
| Putnam Global Industrials |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Solid
Aqr Managed and Putnam Global Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Aqr Managed and Putnam Global
The main advantage of trading using opposite Aqr Managed and Putnam Global positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Aqr Managed position performs unexpectedly, Putnam 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 Putnam Global will offset losses from the drop in Putnam Global's long position.| Aqr Managed vs. Pimco Trends Managed | Aqr Managed vs. Pimco Trends Managed | Aqr Managed vs. SCOR PK | Aqr Managed vs. Morningstar Unconstrained Allocation |
| Putnam Global vs. Putnam Multi Cap Growth | Putnam Global vs. Putnam Multi Cap Growth | Putnam Global vs. Putnam Sustainable Future | Putnam Global vs. Putnam Equity Income |
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 Premium Stories module to follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope.
Other Complementary Tools
| Bonds Directory Find actively traded corporate debentures issued by US companies | |
| ETFs Find actively traded Exchange Traded Funds (ETF) from around the world | |
| ETF Categories List of ETF categories grouped based on various criteria, such as the investment strategy or type of investments | |
| Portfolio Volatility Check portfolio volatility and analyze historical return density to properly model market risk | |
| FinTech Suite Use AI to screen and filter profitable investment opportunities |