Correlation Between Amg Yacktman and Intrepid Capital
Can any of the company-specific risk be diversified away by investing in both Amg Yacktman and Intrepid Capital 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 Amg Yacktman and Intrepid Capital into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Amg Yacktman Focused and Intrepid Capital Fund, you can compare the effects of market volatilities on Amg Yacktman and Intrepid Capital 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 Amg Yacktman with a short position of Intrepid Capital. Check out your portfolio center. Please also check ongoing floating volatility patterns of Amg Yacktman and Intrepid Capital.
Diversification Opportunities for Amg Yacktman and Intrepid Capital
-0.13 | Correlation Coefficient |
Good diversification
The 3 months correlation between Amg and INTREPID is -0.13. Overlapping area represents the amount of risk that can be diversified away by holding Amg Yacktman Focused and Intrepid Capital Fund in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Intrepid Capital and Amg Yacktman 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 Amg Yacktman Focused are associated (or correlated) with Intrepid Capital. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Intrepid Capital has no effect on the direction of Amg Yacktman i.e., Amg Yacktman and Intrepid Capital go up and down completely randomly.
Pair Corralation between Amg Yacktman and Intrepid Capital
Assuming the 90 days horizon Amg Yacktman is expected to generate 1.26 times less return on investment than Intrepid Capital. In addition to that, Amg Yacktman is 1.37 times more volatile than Intrepid Capital Fund. It trades about 0.06 of its total potential returns per unit of risk. Intrepid Capital Fund is currently generating about 0.11 per unit of volatility. If you would invest 976.00 in Intrepid Capital Fund on August 30, 2024 and sell it today you would earn a total of 326.00 from holding Intrepid Capital Fund or generate 33.4% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Amg Yacktman Focused vs. Intrepid Capital Fund
Performance |
| Timeline |
| Amg Yacktman Focused |
| Intrepid Capital |
Amg Yacktman and Intrepid Capital Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Amg Yacktman and Intrepid Capital
The main advantage of trading using opposite Amg Yacktman and Intrepid Capital positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Amg Yacktman position performs unexpectedly, Intrepid Capital 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 Intrepid Capital will offset losses from the drop in Intrepid Capital's long position.| Amg Yacktman vs. First Eagle Global | Amg Yacktman vs. Invesco International Growth | Amg Yacktman vs. Marketfield Fund Marketfield | Amg Yacktman vs. Ivy Asset Strategy |
| Intrepid Capital vs. Intrepid Endurance Fund | Intrepid Capital vs. James Balanced Golden | Intrepid Capital vs. Greenspring Fund Retail | Intrepid Capital vs. Berwyn Income Fund |
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 Technical Analysis module to check basic technical indicators and analysis based on most latest market data.
Other Complementary Tools
| Commodity Directory Find actively traded commodities issued by global exchanges | |
| Alpha Finder Use alpha and beta coefficients to find investment opportunities after accounting for the risk | |
| Money Flow Index Determine momentum by analyzing Money Flow Index and other technical indicators | |
| Global Markets Map Get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes | |
| Commodity Channel Use Commodity Channel Index to analyze current equity momentum |