Correlation Between Cleartrack 2015 and Tocqueville Fund

Can any of the company-specific risk be diversified away by investing in both Cleartrack 2015 and Tocqueville Fund 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 Cleartrack 2015 and Tocqueville Fund into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between Cleartrack 2015 Class and The Tocqueville Fund, you can compare the effects of market volatilities on Cleartrack 2015 and Tocqueville Fund 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 Cleartrack 2015 with a short position of Tocqueville Fund. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cleartrack 2015 and Tocqueville Fund.

Diversification Opportunities for Cleartrack 2015 and Tocqueville Fund

-0.77

Correlation Coefficient

Cleartrack 2015  Tocqueville Fund

Pay attention - limited upside

The 3 months correlation between Cleartrack and Tocqueville is -0.77. Overlapping area represents the amount of risk that can be diversified away by holding Cleartrack 2015 Class and The Tocqueville Fund in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Tocqueville Fund and Cleartrack 2015 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 Cleartrack 2015 Class are associated (or correlated) with Tocqueville Fund. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Tocqueville Fund has no effect on the direction of Cleartrack 2015 i.e., Cleartrack 2015 and Tocqueville Fund go up and down completely randomly.

Pair Corralation between Cleartrack 2015 and Tocqueville Fund

If you would invest  4,532  in The Tocqueville Fund on May 4, 2025 and sell it today you would earn a total of  533.00  from holding The Tocqueville Fund or generate 11.76% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Against
Strength	Weak
Accuracy	1.61%
Values	Daily Returns

Cleartrack 2015 Class  vs.  The Tocqueville Fund

Cleartrack 2015 Class

Risk-Adjusted Performance

Very Weak

Over the last 90 days Cleartrack 2015 Class has generated negative risk-adjusted returns adding no value to fund investors. In spite of fairly strong basic indicators, Cleartrack 2015 is not utilizing all of its potentials. The current stock price disturbance, may contribute to short-term losses for the investors.

Tocqueville Fund

Risk-Adjusted Performance

Solid

Compared to the overall equity markets, risk-adjusted returns on investments in The Tocqueville Fund are ranked lower than 18 (%) of all funds and portfolios of funds over the last 90 days. In spite of fairly weak basic indicators, Tocqueville Fund may actually be approaching a critical reversion point that can send shares even higher in September 2025.

Pair Trading with Cleartrack 2015 and Tocqueville Fund

The main advantage of trading using opposite Cleartrack 2015 and Tocqueville Fund positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cleartrack 2015 position performs unexpectedly, Tocqueville Fund 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 Tocqueville Fund will offset losses from the drop in Tocqueville Fund's long position.

The idea behind Cleartrack 2015 Class and The Tocqueville Fund pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.

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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 ETF Categories module to list of ETF categories grouped based on various criteria, such as the investment strategy or type of investments.