Correlation Between Mirova Global and Segall Bryant
Can any of the company-specific risk be diversified away by investing in both Mirova Global 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 Mirova Global and Segall Bryant into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Mirova Global Green and Segall Bryant Hamll, you can compare the effects of market volatilities on Mirova Global 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 Mirova Global with a short position of Segall Bryant. Check out your portfolio center. Please also check ongoing floating volatility patterns of Mirova Global and Segall Bryant.
Diversification Opportunities for Mirova Global and Segall Bryant
0.48 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Mirova and Segall is 0.48. Overlapping area represents the amount of risk that can be diversified away by holding Mirova Global Green and Segall Bryant Hamll in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Segall Bryant Hamll and Mirova 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 Mirova Global Green 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 Hamll has no effect on the direction of Mirova Global i.e., Mirova Global and Segall Bryant go up and down completely randomly.
Pair Corralation between Mirova Global and Segall Bryant
Assuming the 90 days horizon Mirova Global Green is expected to under-perform the Segall Bryant. But the mutual fund apears to be less risky and, when comparing its historical volatility, Mirova Global Green is 3.58 times less risky than Segall Bryant. The mutual fund trades about -0.02 of its potential returns per unit of risk. The Segall Bryant Hamll is currently generating about 0.07 of returns per unit of risk over similar time horizon. If you would invest 1,076 in Segall Bryant Hamll on December 3, 2024 and sell it today you would earn a total of 38.00 from holding Segall Bryant Hamll or generate 3.53% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Weak |
Accuracy | 100.0% |
Values | Daily Returns |
Mirova Global Green vs. Segall Bryant Hamll
Performance |
Timeline |
Mirova Global Green |
Segall Bryant Hamll |
Mirova Global and Segall Bryant Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Mirova Global and Segall Bryant
The main advantage of trading using opposite Mirova Global and Segall Bryant positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Mirova Global 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.Mirova Global vs. Franklin Small Cap | Mirova Global vs. Siit Small Cap | Mirova Global vs. Ashmore Emerging Markets | Mirova Global vs. Touchstone Small Cap |
Segall Bryant vs. Segall Bryant Hamill | Segall Bryant vs. Segall Bryant Hamill | Segall Bryant vs. Segall Bryant Hamill | Segall Bryant vs. Segall Bryant Hamill |
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 Equity Valuation module to check real value of public entities based on technical and fundamental data.
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