Correlation Between Advent Claymore and Multi Asset
Can any of the company-specific risk be diversified away by investing in both Advent Claymore and Multi Asset 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 Advent Claymore and Multi Asset into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Advent Claymore Convertible and Multi Asset Real Return, you can compare the effects of market volatilities on Advent Claymore and Multi Asset 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 Advent Claymore with a short position of Multi Asset. Check out your portfolio center. Please also check ongoing floating volatility patterns of Advent Claymore and Multi Asset.
Diversification Opportunities for Advent Claymore and Multi Asset
0.91 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Advent and Multi is 0.91. Overlapping area represents the amount of risk that can be diversified away by holding Advent Claymore Convertible and Multi Asset Real Return in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Multi Asset Real and Advent Claymore 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 Advent Claymore Convertible are associated (or correlated) with Multi Asset. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Multi Asset Real has no effect on the direction of Advent Claymore i.e., Advent Claymore and Multi Asset go up and down completely randomly.
Pair Corralation between Advent Claymore and Multi Asset
Assuming the 90 days horizon Advent Claymore Convertible is expected to generate 0.45 times more return on investment than Multi Asset. However, Advent Claymore Convertible is 2.23 times less risky than Multi Asset. It trades about 0.23 of its potential returns per unit of risk. Multi Asset Real Return is currently generating about 0.01 per unit of risk. If you would invest 1,253 in Advent Claymore Convertible on April 28, 2025 and sell it today you would earn a total of 29.00 from holding Advent Claymore Convertible or generate 2.31% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Very Strong |
Accuracy | 95.24% |
Values | Daily Returns |
Advent Claymore Convertible vs. Multi Asset Real Return
Performance |
Timeline |
Advent Claymore Conv |
Multi Asset Real |
Advent Claymore and Multi Asset Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Advent Claymore and Multi Asset
The main advantage of trading using opposite Advent Claymore and Multi Asset positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Advent Claymore position performs unexpectedly, Multi Asset 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 Multi Asset will offset losses from the drop in Multi Asset's long position.Advent Claymore vs. Ab Bond Inflation | Advent Claymore vs. Great West Inflation Protected Securities | Advent Claymore vs. Guggenheim Managed Futures | Advent Claymore vs. Vy Blackrock Inflation |
Multi Asset vs. Lord Abbett Convertible | Multi Asset vs. Fidelity Sai Convertible | Multi Asset vs. Gabelli Convertible And | Multi Asset vs. Advent Claymore Convertible |
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 Cryptocurrency Center module to build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency.
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