Correlation Analysis Between Prospect Capital and ASHMORE GROUP

This module allows you to analyze existing cross correlation between Prospect Capital Corporation and ASHMORE GROUP. You can compare the effects of market volatilities on Prospect Capital and ASHMORE GROUP 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 Prospect Capital with a short position of ASHMORE GROUP. See also your portfolio center. Please also check ongoing floating volatility patterns of Prospect Capital and ASHMORE GROUP.
Horizon     30 Days    Login   to change
Symbolsvs
Check Efficiency

Comparative Performance

Prospect Capital  
22

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Prospect Capital Corporation are ranked lower than 2 (%) of all global equities and portfolios over the last 30 days. Despite somewhat strong basic indicators, Prospect Capital is not utilizing all of its potentials. The new stock price disturbance, may contribute to short term losses for the investors.
ASHMORE GROUP  
00

Risk-Adjusted Performance

Over the last 30 days ASHMORE GROUP has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of rather sound fundamental drivers, ASHMORE GROUP is not utilizing all of its potentials. The new stock price tumult, may contribute to shorter-term losses for the shareholders.

Prospect Capital and ASHMORE GROUP Volatility Contrast

 Predicted Return Density 
      Returns 

Prospect Capital Corp.  vs.  ASHMORE GROUP

 Performance (%) 
      Timeline 

Pair Volatility

Given the investment horizon of 30 days, Prospect Capital Corporation is expected to generate 0.44 times more return on investment than ASHMORE GROUP. However, Prospect Capital Corporation is 2.26 times less risky than ASHMORE GROUP. It trades about 0.04 of its potential returns per unit of risk. ASHMORE GROUP is currently generating about 0.01 per unit of risk. If you would invest  642.00  in Prospect Capital Corporation on August 20, 2019 and sell it today you would earn a total of  16.00  from holding Prospect Capital Corporation or generate 2.49% return on investment over 30 days.

Pair Corralation between Prospect Capital and ASHMORE GROUP

-0.18
Time Period3 Months [change]
DirectionNegative 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Prospect Capital and ASHMORE GROUP

Prospect Capital Corp. diversification synergy

Good diversification

Overlapping area represents the amount of risk that can be diversified away by holding Prospect Capital Corp. and ASHMORE GROUP in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on ASHMORE GROUP and Prospect Capital 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 Prospect Capital Corporation are associated (or correlated) with ASHMORE GROUP. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ASHMORE GROUP has no effect on the direction of Prospect Capital i.e. Prospect Capital and ASHMORE GROUP go up and down completely randomly.
See also your portfolio center. Please also try Portfolio Holdings module to check your current holdings and cash postion to detemine if your portfolio needs rebalancing.


 
Search macroaxis.com