Correlation Between Barings Active and Massmutual Global
Can any of the company-specific risk be diversified away by investing in both Barings Active and Massmutual Global 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 Barings Active and Massmutual Global into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Barings Active Short and Massmutual Global Emerging, you can compare the effects of market volatilities on Barings Active and Massmutual Global 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 Barings Active with a short position of Massmutual Global. Check out your portfolio center. Please also check ongoing floating volatility patterns of Barings Active and Massmutual Global.
Diversification Opportunities for Barings Active and Massmutual Global
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Barings and Massmutual is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Barings Active Short and Massmutual Global Emerging in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Massmutual Global and Barings Active 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 Barings Active Short are associated (or correlated) with Massmutual Global. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Massmutual Global has no effect on the direction of Barings Active i.e., Barings Active and Massmutual Global go up and down completely randomly.
Pair Corralation between Barings Active and Massmutual Global
If you would invest 917.00 in Barings Active Short on September 19, 2024 and sell it today you would earn a total of 4.00 from holding Barings Active Short or generate 0.44% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Flat |
Strength | Insignificant |
Accuracy | 76.19% |
Values | Daily Returns |
Barings Active Short vs. Massmutual Global Emerging
Performance |
Timeline |
Barings Active Short |
Massmutual Global |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Barings Active and Massmutual Global Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Barings Active and Massmutual Global
The main advantage of trading using opposite Barings Active and Massmutual Global positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Barings Active position performs unexpectedly, Massmutual Global 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 Massmutual Global will offset losses from the drop in Massmutual Global's long position.Barings Active vs. Barings Emerging Markets | ||
Barings Active vs. Barings Emerging Markets | ||
Barings Active vs. Barings Global Floating | ||
Barings Active vs. Barings Global Floating |
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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 Risk-Return Analysis module to view associations between returns expected from investment and the risk you assume.
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