Correlation Between Ssga High and Growth Fund
Can any of the company-specific risk be diversified away by investing in both Ssga High and Growth Fund 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 Ssga High and Growth Fund into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Ssga High Yield and Growth Fund Of, you can compare the effects of market volatilities on Ssga High and Growth Fund 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 Ssga High with a short position of Growth Fund. Check out your portfolio center. Please also check ongoing floating volatility patterns of Ssga High and Growth Fund.
Diversification Opportunities for Ssga High and Growth Fund
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Ssga and Growth is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Ssga High Yield and Growth Fund Of in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Growth Fund and Ssga High 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 Ssga High Yield are associated (or correlated) with Growth Fund. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Growth Fund has no effect on the direction of Ssga High i.e., Ssga High and Growth Fund go up and down completely randomly.
Pair Corralation between Ssga High and Growth Fund
If you would invest (100.00) in Ssga High Yield on January 25, 2024 and sell it today you would earn a total of 100.00 from holding Ssga High Yield or generate -100.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Ssga High Yield vs. Growth Fund Of
Performance |
| Timeline |
| Ssga High Yield |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| Growth Fund |
Ssga High and Growth Fund Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Ssga High and Growth Fund
The main advantage of trading using opposite Ssga High and Growth Fund positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Ssga High position performs unexpectedly, Growth Fund 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 Growth Fund will offset losses from the drop in Growth Fund's long position.| Ssga High vs. Western Asset High | Ssga High vs. Nuveen Municipal High | Ssga High vs. Calvert High Yield | Ssga High vs. Franklin High Income |
| Growth Fund vs. Growth Fund Of | Growth Fund vs. Growth Fund Of | Growth Fund vs. Growth Fund Of | Growth Fund vs. Growth Fund Of |
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 Correlations module to find global opportunities by holding instruments from different markets.
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