Correlation Between Loomis Sayles and Champlain Mid
Can any of the company-specific risk be diversified away by investing in both Loomis Sayles and Champlain Mid 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 Loomis Sayles and Champlain Mid into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Loomis Sayles Investment and Champlain Mid Cap, you can compare the effects of market volatilities on Loomis Sayles and Champlain Mid 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 Loomis Sayles with a short position of Champlain Mid. Check out your portfolio center. Please also check ongoing floating volatility patterns of Loomis Sayles and Champlain Mid.
Diversification Opportunities for Loomis Sayles and Champlain Mid
0.59 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Loomis and Champlain is 0.59. Overlapping area represents the amount of risk that can be diversified away by holding Loomis Sayles Investment and Champlain Mid Cap in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Champlain Mid Cap and Loomis Sayles 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 Loomis Sayles Investment are associated (or correlated) with Champlain Mid. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Champlain Mid Cap has no effect on the direction of Loomis Sayles i.e., Loomis Sayles and Champlain Mid go up and down completely randomly.
Pair Corralation between Loomis Sayles and Champlain Mid
Assuming the 90 days horizon Loomis Sayles Investment is expected to generate 0.37 times more return on investment than Champlain Mid. However, Loomis Sayles Investment is 2.67 times less risky than Champlain Mid. It trades about 0.3 of its potential returns per unit of risk. Champlain Mid Cap is currently generating about -0.31 per unit of risk. If you would invest 960.00 in Loomis Sayles Investment on December 5, 2024 and sell it today you would earn a total of 18.00 from holding Loomis Sayles Investment or generate 1.87% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Weak |
Accuracy | 100.0% |
Values | Daily Returns |
Loomis Sayles Investment vs. Champlain Mid Cap
Performance |
Timeline |
Loomis Sayles Investment |
Champlain Mid Cap |
Loomis Sayles and Champlain Mid Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Loomis Sayles and Champlain Mid
The main advantage of trading using opposite Loomis Sayles and Champlain Mid positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Loomis Sayles position performs unexpectedly, Champlain Mid 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 Champlain Mid will offset losses from the drop in Champlain Mid's long position.Loomis Sayles vs. Champlain Small | Loomis Sayles vs. Ep Emerging Markets | Loomis Sayles vs. Segall Bryant Hamill | Loomis Sayles vs. Nuveen Small Cap |
Champlain Mid vs. Champlain Small Pany | Champlain Mid vs. T Rowe Price | Champlain Mid vs. American Mutual Fund | Champlain Mid vs. Loomis Sayles Growth |
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 Volatility Analysis module to get historical volatility and risk analysis based on latest market data.
Other Complementary Tools
Insider Screener Find insiders across different sectors to evaluate their impact on performance | |
Content Syndication Quickly integrate customizable finance content to your own investment portal | |
Equity Valuation Check real value of public entities based on technical and fundamental data | |
Portfolio Center All portfolio management and optimization tools to improve performance of your portfolios | |
Price Transformation Use Price Transformation models to analyze the depth of different equity instruments across global markets |