Correlation Between Guggenheim Managed and Asg Managed
Can any of the company-specific risk be diversified away by investing in both Guggenheim Managed and Asg Managed 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 Guggenheim Managed and Asg Managed into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Guggenheim Managed Futures and Asg Managed Futures, you can compare the effects of market volatilities on Guggenheim Managed and Asg Managed 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 Guggenheim Managed with a short position of Asg Managed. Check out your portfolio center. Please also check ongoing floating volatility patterns of Guggenheim Managed and Asg Managed.
Diversification Opportunities for Guggenheim Managed and Asg Managed
0.71 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Guggenheim and Asg is 0.71. Overlapping area represents the amount of risk that can be diversified away by holding Guggenheim Managed Futures and Asg Managed Futures in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Asg Managed Futures and Guggenheim 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 Guggenheim Managed Futures are associated (or correlated) with Asg Managed. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Asg Managed Futures has no effect on the direction of Guggenheim Managed i.e., Guggenheim Managed and Asg Managed go up and down completely randomly.
Pair Corralation between Guggenheim Managed and Asg Managed
Assuming the 90 days horizon Guggenheim Managed Futures is expected to under-perform the Asg Managed. In addition to that, Guggenheim Managed is 1.17 times more volatile than Asg Managed Futures. It trades about -0.11 of its total potential returns per unit of risk. Asg Managed Futures is currently generating about 0.15 per unit of volatility. If you would invest 857.00 in Asg Managed Futures on October 21, 2024 and sell it today you would earn a total of 14.00 from holding Asg Managed Futures or generate 1.63% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Guggenheim Managed Futures vs. Asg Managed Futures
Performance |
| Timeline |
| Guggenheim Managed |
| Asg Managed Futures |
Guggenheim Managed and Asg Managed Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Guggenheim Managed and Asg Managed
The main advantage of trading using opposite Guggenheim Managed and Asg Managed positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Guggenheim Managed position performs unexpectedly, Asg Managed 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 Asg Managed will offset losses from the drop in Asg Managed's long position.| Guggenheim Managed vs. Lifestyle Ii Moderate | Guggenheim Managed vs. Tiaa Cref Lifestyle Moderate | Guggenheim Managed vs. Moderate Balanced Allocation | Guggenheim Managed vs. Jp Morgan Smartretirement |
| Asg Managed vs. Aqr Managed Futures | Asg Managed vs. Pimco Trends Managed | Asg Managed vs. Eaton Vance Global | Asg Managed vs. Aqr Managed Futures |
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 Equity Analysis module to research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities.
Other Complementary Tools
| Commodity Channel Use Commodity Channel Index to analyze current equity momentum | |
| ETFs Find actively traded Exchange Traded Funds (ETF) from around the world | |
| My Watchlist Analysis Analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like | |
| Portfolio Center All portfolio management and optimization tools to improve performance of your portfolios | |
| Portfolio Manager State of the art Portfolio Manager to monitor and improve performance of your invested capital |