Correlation Between Voya Bond and Simt Multi-asset
Can any of the company-specific risk be diversified away by investing in both Voya Bond and Simt Multi-asset 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 Voya Bond and Simt Multi-asset into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Voya Bond Index and Simt Multi Asset Inflation, you can compare the effects of market volatilities on Voya Bond and Simt Multi-asset 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 Voya Bond with a short position of Simt Multi-asset. Check out your portfolio center. Please also check ongoing floating volatility patterns of Voya Bond and Simt Multi-asset.
Diversification Opportunities for Voya Bond and Simt Multi-asset
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Voya and Simt is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Voya Bond Index and Simt Multi Asset Inflation in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Simt Multi Asset and Voya Bond 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 Voya Bond Index are associated (or correlated) with Simt Multi-asset. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Simt Multi Asset has no effect on the direction of Voya Bond i.e., Voya Bond and Simt Multi-asset go up and down completely randomly.
Pair Corralation between Voya Bond and Simt Multi-asset
If you would invest 763.00 in Simt Multi Asset Inflation on December 26, 2024 and sell it today you would earn a total of 42.00 from holding Simt Multi Asset Inflation or generate 5.5% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Flat |
Strength | Insignificant |
Accuracy | 0.0% |
Values | Daily Returns |
Voya Bond Index vs. Simt Multi Asset Inflation
Performance |
Timeline |
Voya Bond Index |
Risk-Adjusted Performance
Very Weak
Weak | Strong |
Simt Multi Asset |
Voya Bond and Simt Multi-asset Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Voya Bond and Simt Multi-asset
The main advantage of trading using opposite Voya Bond and Simt Multi-asset positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Voya Bond position performs unexpectedly, Simt Multi-asset 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 Simt Multi-asset will offset losses from the drop in Simt Multi-asset's long position.Voya Bond vs. Blackrock Short Term Inflat Protected | Voya Bond vs. Transam Short Term Bond | Voya Bond vs. Delaware Investments Ultrashort | Voya Bond vs. Transamerica Short Term Bond |
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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 Portfolio Dashboard module to portfolio dashboard that provides centralized access to all your investments.
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