Correlation Between Stone Harbor and Growth Fund
Can any of the company-specific risk be diversified away by investing in both Stone Harbor 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 Stone Harbor and Growth Fund into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Stone Harbor Emerging and Growth Fund Of, you can compare the effects of market volatilities on Stone Harbor 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 Stone Harbor with a short position of Growth Fund. Check out your portfolio center. Please also check ongoing floating volatility patterns of Stone Harbor and Growth Fund.
Diversification Opportunities for Stone Harbor and Growth Fund
0.13 | Correlation Coefficient |
Average diversification
The 3 months correlation between Stone and Growth is 0.13. Overlapping area represents the amount of risk that can be diversified away by holding Stone Harbor Emerging and Growth Fund Of in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Growth Fund and Stone Harbor 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 Stone Harbor Emerging 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 Stone Harbor i.e., Stone Harbor and Growth Fund go up and down completely randomly.
Pair Corralation between Stone Harbor and Growth Fund
If you would invest 508.00 in Stone Harbor Emerging on January 24, 2024 and sell it today you would earn a total of 0.00 from holding Stone Harbor Emerging or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 5.0% |
| Values | Daily Returns |
Stone Harbor Emerging vs. Growth Fund Of
Performance |
| Timeline |
| Stone Harbor Emerging |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| Growth Fund |
Stone Harbor and Growth Fund Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Stone Harbor and Growth Fund
The main advantage of trading using opposite Stone Harbor and Growth Fund positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Stone Harbor 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.| Stone Harbor vs. Calamos Dynamic Convertible | Stone Harbor vs. Jpmorgan High Yield | Stone Harbor vs. Versatile Bond Portfolio | Stone Harbor vs. Rbc Bluebay Global |
| Growth Fund vs. Income Fund Of | Growth Fund vs. New World Fund | Growth Fund vs. American Mutual Fund | Growth Fund vs. American Mutual Fund |
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 Balance Of Power module to check stock momentum by analyzing Balance Of Power indicator and other technical ratios.
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