Correlation Analysis Between Bridgeway Blue and Washington Mutual

This module allows you to analyze existing cross correlation between Bridgeway Blue Chip Fund and Washington Mutual Investors Fun. You can compare the effects of market volatilities on Bridgeway Blue and Washington Mutual 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 Bridgeway Blue with a short position of Washington Mutual. See also your portfolio center. Please also check ongoing floating volatility patterns of Bridgeway Blue and Washington Mutual.
Horizon     30 Days    Login   to change
Symbolsvs
Check Efficiency

Comparative Performance

Bridgeway Blue Chip  
1111

Risk-Adjusted Fund Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Bridgeway Blue Chip Fund are ranked lower than 11 (%) of all funds and portfolios of funds over the last 30 days. Inspite fairly weak basic indicators, Bridgeway Blue may actually be approaching a critical reversion point that can send shares even higher in December 2019.
Washington Mutual  
1010

Risk-Adjusted Fund Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Washington Mutual Investors Fun are ranked lower than 10 (%) of all funds and portfolios of funds over the last 30 days. Inspite fairly weak basic indicators, Washington Mutual may actually be approaching a critical reversion point that can send shares even higher in December 2019.

Bridgeway Blue and Washington Mutual Volatility Contrast

 Predicted Return Density 
      Returns 

Bridgeway Blue Chip Fund  vs.  Washington Mutual Investors Fu

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Bridgeway Blue Chip Fund is expected to generate 1.06 times more return on investment than Washington Mutual. However, Bridgeway Blue is 1.06 times more volatile than Washington Mutual Investors Fun. It trades about 0.18 of its potential returns per unit of risk. Washington Mutual Investors Fun is currently generating about 0.15 per unit of risk. If you would invest  1,482  in Bridgeway Blue Chip Fund on October 19, 2019 and sell it today you would earn a total of  132.00  from holding Bridgeway Blue Chip Fund or generate 8.91% return on investment over 30 days.

Pair Corralation between Bridgeway Blue and Washington Mutual

0.98
Time Period3 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Bridgeway Blue and Washington Mutual

Bridgeway Blue Chip Fund diversification synergy

Almost no diversification

Overlapping area represents the amount of risk that can be diversified away by holding Bridgeway Blue Chip Fund and Washington Mutual Investors Fu in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Washington Mutual and Bridgeway Blue 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 Bridgeway Blue Chip Fund are associated (or correlated) with Washington Mutual. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Washington Mutual has no effect on the direction of Bridgeway Blue i.e. Bridgeway Blue and Washington Mutual go up and down completely randomly.
See also your portfolio center. Please also try Pattern Recognition module to use different pattern recognition models to time the market across multiple global exchanges.


 
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