Correlation Between Aig Focused and Putnam Equity
Can any of the company-specific risk be diversified away by investing in both Aig Focused and Putnam Equity 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 Aig Focused and Putnam Equity into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Aig Focused Dividend and Putnam Equity Income, you can compare the effects of market volatilities on Aig Focused and Putnam Equity 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 Aig Focused with a short position of Putnam Equity. Check out your portfolio center. Please also check ongoing floating volatility patterns of Aig Focused and Putnam Equity.
Diversification Opportunities for Aig Focused and Putnam Equity
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Aig and Putnam is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Aig Focused Dividend and Putnam Equity Income in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Putnam Equity Me and Aig Focused 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 Aig Focused Dividend are associated (or correlated) with Putnam Equity. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Putnam Equity Me has no effect on the direction of Aig Focused i.e., Aig Focused and Putnam Equity go up and down completely randomly.
Pair Corralation between Aig Focused and Putnam Equity
If you would invest 2,742 in Putnam Equity Income on January 26, 2024 and sell it today you would earn a total of 667.00 from holding Putnam Equity Income or generate 24.33% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Aig Focused Dividend vs. Putnam Equity Income
Performance |
| Timeline |
| Aig Focused Dividend |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| Putnam Equity Me |
Aig Focused and Putnam Equity Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Aig Focused and Putnam Equity
The main advantage of trading using opposite Aig Focused and Putnam Equity positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Aig Focused position performs unexpectedly, Putnam Equity 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 Putnam Equity will offset losses from the drop in Putnam Equity's long position.| Aig Focused vs. Franklin Emerging Market | Aig Focused vs. Eagle Mlp Strategy | Aig Focused vs. Angel Oak Multi Strategy | Aig Focused vs. Origin Emerging Markets |
| Putnam Equity vs. Edgewood Growth Fund | Putnam Equity vs. Hartford Schroders Emerging | Putnam Equity vs. HUMANA INC | Putnam Equity vs. Aquagold International |
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 Global Markets Map module to get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes.
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