Correlation Between Strategic Asset and John Hancock
Can any of the company-specific risk be diversified away by investing in both Strategic Asset and John Hancock 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 Strategic Asset and John Hancock into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Strategic Asset Management and John Hancock Emerging, you can compare the effects of market volatilities on Strategic Asset and John Hancock 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 Strategic Asset with a short position of John Hancock. Check out your portfolio center. Please also check ongoing floating volatility patterns of Strategic Asset and John Hancock.
Diversification Opportunities for Strategic Asset and John Hancock
0.16 | Correlation Coefficient |
Average diversification
The 3 months correlation between Strategic and John is 0.16. Overlapping area represents the amount of risk that can be diversified away by holding Strategic Asset Management and John Hancock Emerging in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on John Hancock Emerging and Strategic Asset 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 Strategic Asset Management are associated (or correlated) with John Hancock. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of John Hancock Emerging has no effect on the direction of Strategic Asset i.e., Strategic Asset and John Hancock go up and down completely randomly.
Pair Corralation between Strategic Asset and John Hancock
If you would invest 1,218 in Strategic Asset Management on October 25, 2024 and sell it today you would earn a total of 0.00 from holding Strategic Asset Management or generate 0.0% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Insignificant |
Accuracy | 5.56% |
Values | Daily Returns |
Strategic Asset Management vs. John Hancock Emerging
Performance |
Timeline |
Strategic Asset Mana |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
OK
John Hancock Emerging |
Strategic Asset and John Hancock Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Strategic Asset and John Hancock
The main advantage of trading using opposite Strategic Asset and John Hancock positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Strategic Asset position performs unexpectedly, John Hancock 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 John Hancock will offset losses from the drop in John Hancock's long position.Strategic Asset vs. Pnc Balanced Allocation | Strategic Asset vs. Franklin Moderate Allocation | Strategic Asset vs. Growth Allocation Fund | Strategic Asset vs. Balanced Allocation Fund |
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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 Stocks Directory module to find actively traded stocks across global markets.
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