Correlation Between 361 Managed and Aqr Managed
Can any of the company-specific risk be diversified away by investing in both 361 Managed and Aqr Managed 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 361 Managed and Aqr Managed into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between 361 Managed Futures and Aqr Managed Futures, you can compare the effects of market volatilities on 361 Managed and Aqr Managed 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 361 Managed with a short position of Aqr Managed. Check out your portfolio center. Please also check ongoing floating volatility patterns of 361 Managed and Aqr Managed.
Diversification Opportunities for 361 Managed and Aqr Managed
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between 361 and Aqr is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding 361 Managed Futures and Aqr Managed Futures in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Aqr Managed Futures and 361 Managed 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 361 Managed Futures are associated (or correlated) with Aqr Managed. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Aqr Managed Futures has no effect on the direction of 361 Managed i.e., 361 Managed and Aqr Managed go up and down completely randomly.
Pair Corralation between 361 Managed and Aqr Managed
If you would invest 898.00 in Aqr Managed Futures on January 20, 2024 and sell it today you would earn a total of 35.00 from holding Aqr Managed Futures or generate 3.9% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
361 Managed Futures vs. Aqr Managed Futures
Performance |
| Timeline |
| 361 Managed Futures |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| Aqr Managed Futures |
361 Managed and Aqr Managed Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with 361 Managed and Aqr Managed
The main advantage of trading using opposite 361 Managed and Aqr Managed positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if 361 Managed position performs unexpectedly, Aqr Managed 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 Aqr Managed will offset losses from the drop in Aqr Managed's long position.| 361 Managed vs. Needham Aggressive Growth | 361 Managed vs. L Abbett Growth | 361 Managed vs. Auer Growth Fund | 361 Managed vs. Rational Defensive Growth |
| Aqr Managed vs. Aqr Large Cap | Aqr Managed vs. Aqr Large Cap | Aqr Managed vs. Aqr International Defensive | Aqr Managed vs. Aqr International Defensive |
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 Economic Indicators module to top statistical indicators that provide insights into how an economy is performing.
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