Correlation Between SYNTHETIC FIXED and Goldman Sachs
Can any of the company-specific risk be diversified away by investing in both SYNTHETIC FIXED and Goldman Sachs 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 SYNTHETIC FIXED and Goldman Sachs into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between SYNTHETIC FIXED INCOME and Goldman Sachs Capital, you can compare the effects of market volatilities on SYNTHETIC FIXED and Goldman Sachs 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 SYNTHETIC FIXED with a short position of Goldman Sachs. Check out your portfolio center. Please also check ongoing floating volatility patterns of SYNTHETIC FIXED and Goldman Sachs.
Diversification Opportunities for SYNTHETIC FIXED and Goldman Sachs
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between SYNTHETIC and Goldman is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding SYNTHETIC FIXED INCOME and Goldman Sachs Capital in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Goldman Sachs Capital and SYNTHETIC FIXED 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 SYNTHETIC FIXED INCOME are associated (or correlated) with Goldman Sachs. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Goldman Sachs Capital has no effect on the direction of SYNTHETIC FIXED i.e., SYNTHETIC FIXED and Goldman Sachs go up and down completely randomly.
Pair Corralation between SYNTHETIC FIXED and Goldman Sachs
If you would invest 2,396 in Goldman Sachs Capital on December 5, 2024 and sell it today you would earn a total of 204.00 from holding Goldman Sachs Capital or generate 8.51% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Flat |
Strength | Insignificant |
Accuracy | 0.0% |
Values | Daily Returns |
SYNTHETIC FIXED INCOME vs. Goldman Sachs Capital
Performance |
Timeline |
SYNTHETIC FIXED INCOME |
Risk-Adjusted Performance
Very Weak
Weak | Strong |
Goldman Sachs Capital |
SYNTHETIC FIXED and Goldman Sachs Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with SYNTHETIC FIXED and Goldman Sachs
The main advantage of trading using opposite SYNTHETIC FIXED and Goldman Sachs positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if SYNTHETIC FIXED position performs unexpectedly, Goldman Sachs 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 Goldman Sachs will offset losses from the drop in Goldman Sachs' long position.SYNTHETIC FIXED vs. STRATS SM Trust | SYNTHETIC FIXED vs. Strats SM Trust | SYNTHETIC FIXED vs. STRATSSM Certificates series | SYNTHETIC FIXED vs. Strats SM Trust |
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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 Portfolio Analyzer module to portfolio analysis module that provides access to portfolio diagnostics and optimization engine.
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