Correlation Between Astor Long/short and Lord Abbett
Can any of the company-specific risk be diversified away by investing in both Astor Long/short and Lord Abbett 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 Astor Long/short and Lord Abbett into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Astor Longshort Fund and Lord Abbett Government, you can compare the effects of market volatilities on Astor Long/short and Lord Abbett 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 Astor Long/short with a short position of Lord Abbett. Check out your portfolio center. Please also check ongoing floating volatility patterns of Astor Long/short and Lord Abbett.
Diversification Opportunities for Astor Long/short and Lord Abbett
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Astor and Lord is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Astor Longshort Fund and Lord Abbett Government in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Lord Abbett Government and Astor Long/short 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 Astor Longshort Fund are associated (or correlated) with Lord Abbett. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Lord Abbett Government has no effect on the direction of Astor Long/short i.e., Astor Long/short and Lord Abbett go up and down completely randomly.
Pair Corralation between Astor Long/short and Lord Abbett
If you would invest 1,175 in Astor Longshort Fund on December 5, 2024 and sell it today you would earn a total of 105.00 from holding Astor Longshort Fund or generate 8.94% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Flat |
Strength | Insignificant |
Accuracy | 20.77% |
Values | Daily Returns |
Astor Longshort Fund vs. Lord Abbett Government
Performance |
Timeline |
Astor Long/short |
Lord Abbett Government |
Astor Long/short and Lord Abbett Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Astor Long/short and Lord Abbett
The main advantage of trading using opposite Astor Long/short and Lord Abbett positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Astor Long/short position performs unexpectedly, Lord Abbett 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 Lord Abbett will offset losses from the drop in Lord Abbett's long position.Astor Long/short vs. Virtus Multi Sector Short | Astor Long/short vs. Calvert Short Duration | Astor Long/short vs. Cmg Ultra Short | Astor Long/short vs. Prudential Short Duration |
Lord Abbett vs. Dodge Cox Emerging | Lord Abbett vs. Doubleline Emerging Markets | Lord Abbett vs. Angel Oak Multi Strategy | Lord Abbett vs. Pimco Emerging Markets |
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 Bonds Directory module to find actively traded corporate debentures issued by US companies.
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