Correlation Between Barings Global and Federated Hermes
Can any of the company-specific risk be diversified away by investing in both Barings Global and Federated Hermes 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 Global and Federated Hermes into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Barings Global Emerging and Federated Hermes Inflation, you can compare the effects of market volatilities on Barings Global and Federated Hermes 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 Global with a short position of Federated Hermes. Check out your portfolio center. Please also check ongoing floating volatility patterns of Barings Global and Federated Hermes.
Diversification Opportunities for Barings Global and Federated Hermes
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Barings and Federated is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Barings Global Emerging and Federated Hermes Inflation in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Federated Hermes Inf and Barings Global 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 Global Emerging are associated (or correlated) with Federated Hermes. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Federated Hermes Inf has no effect on the direction of Barings Global i.e., Barings Global and Federated Hermes go up and down completely randomly.
Pair Corralation between Barings Global and Federated Hermes
If you would invest 986.00 in Barings Global Emerging on October 1, 2024 and sell it today you would earn a total of 0.00 from holding Barings Global Emerging or generate 0.0% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Flat |
Strength | Insignificant |
Accuracy | 63.49% |
Values | Daily Returns |
Barings Global Emerging vs. Federated Hermes Inflation
Performance |
Timeline |
Barings Global Emerging |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Federated Hermes Inf |
Barings Global and Federated Hermes Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Barings Global and Federated Hermes
The main advantage of trading using opposite Barings Global and Federated Hermes positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Barings Global position performs unexpectedly, Federated Hermes 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 Federated Hermes will offset losses from the drop in Federated Hermes' long position.Barings Global vs. Lgm Risk Managed | ||
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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 Cryptocurrency Center module to build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency.
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