Correlation Between WhiteHorse Finance and CBH
Can any of the company-specific risk be diversified away by investing in both WhiteHorse Finance and CBH 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 WhiteHorse Finance and CBH into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between WhiteHorse Finance and CBH, you can compare the effects of market volatilities on WhiteHorse Finance and CBH 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 WhiteHorse Finance with a short position of CBH. Check out your portfolio center. Please also check ongoing floating volatility patterns of WhiteHorse Finance and CBH.
Diversification Opportunities for WhiteHorse Finance and CBH
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between WhiteHorse and CBH is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding WhiteHorse Finance and CBH in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CBH and WhiteHorse Finance 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 WhiteHorse Finance are associated (or correlated) with CBH. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CBH has no effect on the direction of WhiteHorse Finance i.e., WhiteHorse Finance and CBH go up and down completely randomly.
Pair Corralation between WhiteHorse Finance and CBH
If you would invest (100.00) in CBH on November 9, 2024 and sell it today you would earn a total of 100.00 from holding CBH or generate -100.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
WhiteHorse Finance vs. CBH
Performance |
| Timeline |
| WhiteHorse Finance |
| CBH |
Risk-Adjusted Performance
Very Weak
Weak | Strong |
WhiteHorse Finance and CBH Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with WhiteHorse Finance and CBH
The main advantage of trading using opposite WhiteHorse Finance and CBH positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if WhiteHorse Finance position performs unexpectedly, CBH 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 CBH will offset losses from the drop in CBH's long position.| WhiteHorse Finance vs. Monroe Capital Corp | WhiteHorse Finance vs. Portman Ridge Finance | WhiteHorse Finance vs. Fidus Investment Corp | WhiteHorse Finance vs. Diamond Hill Investment |
| CBH vs. Eaton Vance National | CBH vs. Blackrock Muniholdings Ny | CBH vs. Nuveen California Select | CBH vs. MFS Investment Grade |
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 Portfolio Center module to all portfolio management and optimization tools to improve performance of your portfolios.
Other Complementary Tools
| Portfolio Anywhere Track or share privately all of your investments from the convenience of any device | |
| Options Analysis Analyze and evaluate options and option chains as a potential hedge for your portfolios | |
| Commodity Channel Use Commodity Channel Index to analyze current equity momentum | |
| Watchlist Optimization Optimize watchlists to build efficient portfolios or rebalance existing positions based on the mean-variance optimization algorithm | |
| Portfolio Volatility Check portfolio volatility and analyze historical return density to properly model market risk |