Correlation Analysis Between Virtus Total and 3I Group

This module allows you to analyze existing cross correlation between Virtus Total Return Fund and 3I Group Plc. You can compare the effects of market volatilities on Virtus Total and 3I 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 Virtus Total with a short position of 3I Group. See also your portfolio center. Please also check ongoing floating volatility patterns of Virtus Total and 3I Group.
Horizon     30 Days    Login   to change
Check Efficiency

Comparative Performance

Virtus Total Return  

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Virtus Total Return Fund are ranked lower than 7 (%) of all global equities and portfolios over the last 30 days. In spite of rather sound fundamental drivers, Virtus Total is not utilizing all of its potentials. The new stock price tumult, may contribute to shorter-term losses for the shareholders.
3I Group Plc  

Risk-Adjusted Performance

Over the last 30 days 3I Group Plc has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of latest sluggish performance, the Stock's fundamental drivers remain sound and the ongoing tumult on Wall Street may also be a sign of longer-term gains for the firm shareholders.

Virtus Total and 3I Group Volatility Contrast

 Predicted Return Density 

Virtus Total Return Fund Inc  vs.  3I Group Plc

 Performance (%) 

Pair Volatility

Allowing for the 30-days total investment horizon, Virtus Total Return Fund is expected to generate 0.46 times more return on investment than 3I Group. However, Virtus Total Return Fund is 2.18 times less risky than 3I Group. It trades about 0.11 of its potential returns per unit of risk. 3I Group Plc is currently generating about -0.07 per unit of risk. If you would invest  1,089  in Virtus Total Return Fund on September 16, 2019 and sell it today you would earn a total of  57.00  from holding Virtus Total Return Fund or generate 5.23% return on investment over 30 days.

Pair Corralation between Virtus Total and 3I Group

Time Period3 Months [change]
ValuesDaily Returns

Diversification Opportunities for Virtus Total and 3I Group

Virtus Total Return Fund Inc diversification synergy

Good diversification

Overlapping area represents the amount of risk that can be diversified away by holding Virtus Total Return Fund Inc and 3I Group Plc in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on 3I Group Plc and Virtus Total 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 Virtus Total Return Fund are associated (or correlated) with 3I Group. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of 3I Group Plc has no effect on the direction of Virtus Total i.e. Virtus Total and 3I Group go up and down completely randomly.
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