Correlation Between Siit Emerging and Astor Longshort
Can any of the company-specific risk be diversified away by investing in both Siit Emerging and Astor Longshort 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 Siit Emerging and Astor Longshort into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Siit Emerging Markets and Astor Longshort Fund, you can compare the effects of market volatilities on Siit Emerging and Astor Longshort 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 Siit Emerging with a short position of Astor Longshort. Check out your portfolio center. Please also check ongoing floating volatility patterns of Siit Emerging and Astor Longshort.
Diversification Opportunities for Siit Emerging and Astor Longshort
0.95 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Siit and Astor is 0.95. Overlapping area represents the amount of risk that can be diversified away by holding Siit Emerging Markets and Astor Longshort Fund in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Astor Longshort and Siit Emerging 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 Siit Emerging Markets are associated (or correlated) with Astor Longshort. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Astor Longshort has no effect on the direction of Siit Emerging i.e., Siit Emerging and Astor Longshort go up and down completely randomly.
Pair Corralation between Siit Emerging and Astor Longshort
Assuming the 90 days horizon Siit Emerging is expected to generate 1.21 times less return on investment than Astor Longshort. But when comparing it to its historical volatility, Siit Emerging Markets is 1.66 times less risky than Astor Longshort. It trades about 0.38 of its potential returns per unit of risk. Astor Longshort Fund is currently generating about 0.27 of returns per unit of risk over similar time horizon. If you would invest 1,239 in Astor Longshort Fund on April 30, 2025 and sell it today you would earn a total of 83.00 from holding Astor Longshort Fund or generate 6.7% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Very Strong |
Accuracy | 100.0% |
Values | Daily Returns |
Siit Emerging Markets vs. Astor Longshort Fund
Performance |
Timeline |
Siit Emerging Markets |
Astor Longshort |
Siit Emerging and Astor Longshort Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Siit Emerging and Astor Longshort
The main advantage of trading using opposite Siit Emerging and Astor Longshort positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Siit Emerging position performs unexpectedly, Astor Longshort 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 Astor Longshort will offset losses from the drop in Astor Longshort's long position.Siit Emerging vs. Fidelity New Markets | Siit Emerging vs. Rbc Emerging Markets | Siit Emerging vs. Locorr Market Trend | Siit Emerging vs. Calvert Developed Market |
Astor Longshort vs. Advent Claymore Convertible | Astor Longshort vs. Calamos Dynamic Convertible | Astor Longshort vs. Lord Abbett Convertible | Astor Longshort vs. Putnam Convertible Securities |
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 Suggestion module to get suggestions outside of your existing asset allocation including your own model portfolios.
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