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Correlation Between Smead Value and DOW

Analyzing existing cross correlation between Smead Value Fund Class Y and DOW. You can compare the effects of market volatilities on Smead Value and DOW 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 Smead Value with a short position of DOW. Check out your portfolio center. Please also check ongoing floating volatility patterns of Smead Value and DOW.

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Diversification Opportunities for Smead Value and DOW

Smead Value Fund Class Y diversification synergy
-0.48
SVF
DOW

Very good diversification

The 3 months correlation between Smead and DOW is -0.48. Overlapping area represents the amount of risk that can be diversified away by holding Smead Value Fund Class Y and DOW in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on DOW and Smead Value 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 Smead Value Fund Class Y are associated (or correlated) with DOW. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of DOW has no effect on the direction of Smead Value i.e. Smead Value and DOW go up and down completely randomly.
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Pair Corralation between Smead Value and DOW

Assuming 30 trading days horizon, Smead Value Fund Class Y is expected to under-perform the DOW. In addition to that, Smead Value is 1.11 times more volatile than DOW. It trades about -0.04 of its total potential returns per unit of risk. DOW is currently generating about 0.11 per unit of volatility. If you would invest  2,787,562  in DOW on January 21, 2020 and sell it today you would earn a total of  147,241  from holding DOW or generate 5.28% return on investment over 30 days.
Time Period3 Months [change]
DirectionMoves Against 
StrengthVery Weak
Accuracy98.36%
ValuesDaily Returns

Smead Value Fund Class Y  vs.  DOW

 Performance (%) 
    
  Timeline 
 Predicted Return Density 
    
  Returns 
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