Correlation Between Asg Managed and Oakhurst Fixed

Can any of the company-specific risk be diversified away by investing in both Asg Managed and Oakhurst Fixed 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 Asg Managed and Oakhurst Fixed into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between Asg Managed Futures and Oakhurst Fixed Income, you can compare the effects of market volatilities on Asg Managed and Oakhurst Fixed 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 Asg Managed with a short position of Oakhurst Fixed. Check out your portfolio center. Please also check ongoing floating volatility patterns of Asg Managed and Oakhurst Fixed.

Diversification Opportunities for Asg Managed and Oakhurst Fixed

-0.32

Correlation Coefficient

Asg Managed  Oakhurst Fixed

Very good diversification

The 3 months correlation between Asg and Oakhurst is -0.32. Overlapping area represents the amount of risk that can be diversified away by holding Asg Managed Futures and Oakhurst Fixed Income in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Oakhurst Fixed Income and Asg Managed 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 Asg Managed Futures are associated (or correlated) with Oakhurst Fixed. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Oakhurst Fixed Income has no effect on the direction of Asg Managed i.e., Asg Managed and Oakhurst Fixed go up and down completely randomly.

Pair Corralation between Asg Managed and Oakhurst Fixed

Assuming the 90 days horizon Asg Managed is expected to generate 11.81 times less return on investment than Oakhurst Fixed. In addition to that, Asg Managed is 2.24 times more volatile than Oakhurst Fixed Income. It trades about 0.0 of its total potential returns per unit of risk. Oakhurst Fixed Income is currently generating about 0.08 per unit of volatility. If you would invest  863.00  in Oakhurst Fixed Income on October 24, 2024 and sell it today you would earn a total of  4.00  from holding Oakhurst Fixed Income or generate 0.46% return on investment over 90 days.

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

Asg Managed Futures  vs.  Oakhurst Fixed Income

Asg Managed Futures

Risk-Adjusted Performance

3 of 100

Insignificant

Compared to the overall equity markets, risk-adjusted returns on investments in Asg Managed Futures are ranked lower than 3 (%) of all funds and portfolios of funds over the last 90 days. In spite of fairly strong basic indicators, Asg Managed is not utilizing all of its potentials. The current stock price disturbance, may contribute to short-term losses for the investors.

Oakhurst Fixed Income

Risk-Adjusted Performance

0 of 100

Very Weak

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

Pair Trading with Asg Managed and Oakhurst Fixed

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

The idea behind Asg Managed Futures and Oakhurst Fixed Income 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.

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 File Import module to quickly import all of your third-party portfolios from your local drive in csv format.