Correlation Between MINT Income and Flaherty Crumrine

Can any of the company-specific risk be diversified away by investing in both MINT Income and Flaherty Crumrine 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 MINT Income and Flaherty Crumrine into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between MINT Income Fund and Flaherty Crumrine Investment, you can compare the effects of market volatilities on MINT Income and Flaherty Crumrine 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 MINT Income with a short position of Flaherty Crumrine. Check out your portfolio center. Please also check ongoing floating volatility patterns of MINT Income and Flaherty Crumrine.

Diversification Opportunities for MINT Income and Flaherty Crumrine

0.0

Correlation Coefficient

MINT Income  Flaherty Crumrine

Pay attention - limited upside

The 3 months correlation between MINT and Flaherty is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding MINT Income Fund and Flaherty Crumrine Investment in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Flaherty Crumrine and MINT Income 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 MINT Income Fund are associated (or correlated) with Flaherty Crumrine. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Flaherty Crumrine has no effect on the direction of MINT Income i.e., MINT Income and Flaherty Crumrine go up and down completely randomly.

Pair Corralation between MINT Income and Flaherty Crumrine

If you would invest  745.00  in MINT Income Fund on October 6, 2024 and sell it today you would earn a total of  52.00  from holding MINT Income Fund or generate 6.98% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Flat
Strength	Insignificant
Accuracy	100.0%
Values	Daily Returns

MINT Income Fund  vs.  Flaherty Crumrine Investment

MINT Income Fund

Risk-Adjusted Performance

8 of 100

OK

Compared to the overall equity markets, risk-adjusted returns on investments in MINT Income Fund are ranked lower than 8 (%) of all global equities and portfolios over the last 90 days. Despite somewhat weak fundamental indicators, MINT Income may actually be approaching a critical reversion point that can send shares even higher in February 2025.

Flaherty Crumrine

Risk-Adjusted Performance

0 of 100

Very Weak

Over the last 90 days Flaherty Crumrine Investment has generated negative risk-adjusted returns adding no value to investors with long positions. Despite somewhat strong forward indicators, Flaherty Crumrine is not utilizing all of its potentials. The recent stock price disturbance, may contribute to short-term losses for the investors.

Pair Trading with MINT Income and Flaherty Crumrine

The main advantage of trading using opposite MINT Income and Flaherty Crumrine positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if MINT Income position performs unexpectedly, Flaherty Crumrine 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 Flaherty Crumrine will offset losses from the drop in Flaherty Crumrine's long position.

The idea behind MINT Income Fund and Flaherty Crumrine Investment pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.

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 Price Transformation module to use Price Transformation models to analyze the depth of different equity instruments across global markets.