Correlation Between Gold And and Scharf Fund

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

By analyzing existing cross correlation between Gold And Precious and Scharf Fund Retail, you can compare the effects of market volatilities on Gold And and Scharf 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 Gold And with a short position of Scharf Fund. Check out your portfolio center. Please also check ongoing floating volatility patterns of Gold And and Scharf Fund.

Diversification Opportunities for Gold And and Scharf Fund

0.0

Correlation Coefficient

Gold And  Scharf Fund

Pay attention - limited upside

The 3 months correlation between Gold and Scharf is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Gold And Precious and Scharf Fund Retail in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Scharf Fund Retail and Gold And 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 Gold And Precious are associated (or correlated) with Scharf Fund. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Scharf Fund Retail has no effect on the direction of Gold And i.e., Gold And and Scharf Fund go up and down completely randomly.

Pair Corralation between Gold And and Scharf Fund

If you would invest  1,218  in Gold And Precious on January 9, 2025 and sell it today you would earn a total of  140.00  from holding Gold And Precious or generate 11.49% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Flat
Strength	Insignificant
Accuracy	100.0%
Values	Daily Returns

Gold And Precious  vs.  Scharf Fund Retail

Gold And Precious

Risk-Adjusted Performance

OK

Compared to the overall equity markets, risk-adjusted returns on investments in Gold And Precious are ranked lower than 7 (%) of all funds and portfolios of funds over the last 90 days. In spite of fairly weak basic indicators, Gold And may actually be approaching a critical reversion point that can send shares even higher in May 2025.

Scharf Fund Retail

Risk-Adjusted Performance

Very Weak

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

Pair Trading with Gold And and Scharf Fund

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

The idea behind Gold And Precious and Scharf Fund Retail 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 Money Managers module to screen money managers from public funds and ETFs managed around the world.