Correlation Between Growth Fund and Segall Bryant
Can any of the company-specific risk be diversified away by investing in both Growth Fund and Segall Bryant 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 Growth Fund and Segall Bryant into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Growth Fund Of and Segall Bryant Hamill, you can compare the effects of market volatilities on Growth Fund and Segall Bryant 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 Growth Fund with a short position of Segall Bryant. Check out your portfolio center. Please also check ongoing floating volatility patterns of Growth Fund and Segall Bryant.
Diversification Opportunities for Growth Fund and Segall Bryant
0.64 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Growth and Segall is 0.64. Overlapping area represents the amount of risk that can be diversified away by holding Growth Fund Of and Segall Bryant Hamill in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Segall Bryant Hamill and Growth Fund 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 Growth Fund Of are associated (or correlated) with Segall Bryant. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Segall Bryant Hamill has no effect on the direction of Growth Fund i.e., Growth Fund and Segall Bryant go up and down completely randomly.
Pair Corralation between Growth Fund and Segall Bryant
Assuming the 90 days horizon Growth Fund Of is expected to generate 0.8 times more return on investment than Segall Bryant. However, Growth Fund Of is 1.25 times less risky than Segall Bryant. It trades about -0.08 of its potential returns per unit of risk. Segall Bryant Hamill is currently generating about -0.15 per unit of risk. If you would invest 8,105 in Growth Fund Of on December 1, 2024 and sell it today you would lose (729.00) from holding Growth Fund Of or give up 8.99% of portfolio value over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Significant |
Accuracy | 100.0% |
Values | Daily Returns |
Growth Fund Of vs. Segall Bryant Hamill
Performance |
Timeline |
Growth Fund |
Segall Bryant Hamill |
Growth Fund and Segall Bryant Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Growth Fund and Segall Bryant
The main advantage of trading using opposite Growth Fund and Segall Bryant positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Growth Fund position performs unexpectedly, Segall Bryant 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 Segall Bryant will offset losses from the drop in Segall Bryant's long position.Growth Fund vs. Upright Assets Allocation | Growth Fund vs. T Rowe Price | Growth Fund vs. The Hartford Servative | Growth Fund vs. Guidemark Large Cap |
Segall Bryant vs. Hartford Schroders Emerging | Segall Bryant vs. Rbc Emerging Markets | Segall Bryant vs. Pimco Emerging Markets | Segall Bryant vs. Transamerica 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 Sync Your Broker module to sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors..
Other Complementary Tools
Idea Optimizer Use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio | |
USA ETFs Find actively traded Exchange Traded Funds (ETF) in USA | |
Funds Screener Find actively-traded funds from around the world traded on over 30 global exchanges | |
Transaction History View history of all your transactions and understand their impact on performance | |
Volatility Analysis Get historical volatility and risk analysis based on latest market data |