Correlation Between Walker Dunlop and Artisan Thematic
Can any of the company-specific risk be diversified away by investing in both Walker Dunlop and Artisan Thematic 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 Walker Dunlop and Artisan Thematic into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Walker Dunlop and Artisan Thematic Fund, you can compare the effects of market volatilities on Walker Dunlop and Artisan Thematic 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 Walker Dunlop with a short position of Artisan Thematic. Check out your portfolio center. Please also check ongoing floating volatility patterns of Walker Dunlop and Artisan Thematic.
Diversification Opportunities for Walker Dunlop and Artisan Thematic
0.54 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Walker and Artisan is 0.54. Overlapping area represents the amount of risk that can be diversified away by holding Walker Dunlop and Artisan Thematic Fund in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Artisan Thematic and Walker Dunlop 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 Walker Dunlop are associated (or correlated) with Artisan Thematic. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Artisan Thematic has no effect on the direction of Walker Dunlop i.e., Walker Dunlop and Artisan Thematic go up and down completely randomly.
Pair Corralation between Walker Dunlop and Artisan Thematic
Allowing for the 90-day total investment horizon Walker Dunlop is expected to generate 2.47 times more return on investment than Artisan Thematic. However, Walker Dunlop is 2.47 times more volatile than Artisan Thematic Fund. It trades about 0.05 of its potential returns per unit of risk. Artisan Thematic Fund is currently generating about 0.11 per unit of risk. If you would invest 7,882 in Walker Dunlop on August 28, 2024 and sell it today you would earn a total of 3,367 from holding Walker Dunlop or generate 42.72% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 99.79% |
| Values | Daily Returns |
Walker Dunlop vs. Artisan Thematic Fund
Performance |
| Timeline |
| Walker Dunlop |
| Artisan Thematic |
Walker Dunlop and Artisan Thematic Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Walker Dunlop and Artisan Thematic
The main advantage of trading using opposite Walker Dunlop and Artisan Thematic positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Walker Dunlop position performs unexpectedly, Artisan Thematic 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 Artisan Thematic will offset losses from the drop in Artisan Thematic's long position.| Walker Dunlop vs. Mr Cooper Group | Walker Dunlop vs. Velocity Financial Llc | Walker Dunlop vs. Security National Financial | Walker Dunlop vs. Encore Capital Group |
| Artisan Thematic vs. Nuveen Short Term | Artisan Thematic vs. Rbc Short Duration | Artisan Thematic vs. Old Westbury Short Term | Artisan Thematic vs. Vanguard Institutional Short Term |
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 Funds Screener module to find actively-traded funds from around the world traded on over 30 global exchanges.
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