Correlation Between Issachar Fund and First Investors
Can any of the company-specific risk be diversified away by investing in both Issachar Fund and First Investors 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 Issachar Fund and First Investors into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Issachar Fund Class and First Investors Hedged, you can compare the effects of market volatilities on Issachar Fund and First Investors 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 Issachar Fund with a short position of First Investors. Check out your portfolio center. Please also check ongoing floating volatility patterns of Issachar Fund and First Investors.
Diversification Opportunities for Issachar Fund and First Investors
-0.05 | Correlation Coefficient |
Good diversification
The 3 months correlation between Issachar and First is -0.05. Overlapping area represents the amount of risk that can be diversified away by holding Issachar Fund Class and First Investors Hedged in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on First Investors Hedged and Issachar 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 Issachar Fund Class are associated (or correlated) with First Investors. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of First Investors Hedged has no effect on the direction of Issachar Fund i.e., Issachar Fund and First Investors go up and down completely randomly.
Pair Corralation between Issachar Fund and First Investors
If you would invest 925.00 in Issachar Fund Class on September 12, 2024 and sell it today you would earn a total of 101.00 from holding Issachar Fund Class or generate 10.92% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Against |
Strength | Insignificant |
Accuracy | 1.59% |
Values | Daily Returns |
Issachar Fund Class vs. First Investors Hedged
Performance |
Timeline |
Issachar Fund Class |
First Investors Hedged |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Issachar Fund and First Investors Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Issachar Fund and First Investors
The main advantage of trading using opposite Issachar Fund and First Investors positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Issachar Fund position performs unexpectedly, First Investors 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 First Investors will offset losses from the drop in First Investors' long position.Issachar Fund vs. Qs Moderate Growth | Issachar Fund vs. Strategic Allocation Moderate | Issachar Fund vs. Pro Blend Moderate Term | Issachar Fund vs. Qs Moderate Growth |
First Investors vs. T Rowe Price | First Investors vs. Nasdaq 100 Index Fund | First Investors vs. Issachar Fund Class | First Investors vs. T Rowe Price |
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..
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