Correlation Between Unified Series and IShares Russell

Specify exactly 2 symbols:
Can any of the company-specific risk be diversified away by investing in both Unified Series and IShares Russell 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 Unified Series and IShares Russell into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Unified Series Trust and IShares Russell 2500, you can compare the effects of market volatilities on Unified Series and IShares Russell 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 Unified Series with a short position of IShares Russell. Check out your portfolio center. Please also check ongoing floating volatility patterns of Unified Series and IShares Russell.

Diversification Opportunities for Unified Series and IShares Russell

  Correlation Coefficient

Very poor diversification

The 3 months correlation between Unified and IShares is 0.89. Overlapping area represents the amount of risk that can be diversified away by holding Unified Series Trust and IShares Russell 2500 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on IShares Russell 2500 and Unified Series 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 Unified Series Trust are associated (or correlated) with IShares Russell. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of IShares Russell 2500 has no effect on the direction of Unified Series i.e., Unified Series and IShares Russell go up and down completely randomly.

Pair Corralation between Unified Series and IShares Russell

Given the investment horizon of 90 days Unified Series Trust is expected to generate 0.84 times more return on investment than IShares Russell. However, Unified Series Trust is 1.19 times less risky than IShares Russell. It trades about -0.04 of its potential returns per unit of risk. IShares Russell 2500 is currently generating about -0.26 per unit of risk. If you would invest  2,157  in Unified Series Trust on December 21, 2022 and sell it today you would lose (24.00)  from holding Unified Series Trust or give up 1.11% of portfolio value over 90 days.
Time Period3 Months [change]
DirectionMoves Together 
ValuesDaily Returns

Unified Series Trust  vs.  IShares Russell 2500

 Performance (%) 
Unified Series Trust 

Unified Performance

3 of 100

Compared to the overall equity markets, risk-adjusted returns on investments in Unified Series Trust are ranked lower than 3 (%) of all global equities and portfolios over the last 90 days. In spite of rather sound essential indicators, Unified Series is not utilizing all of its potentials. The recent stock price tumult, may contribute to shorter-term losses for the shareholders.
IShares Russell 2500 

IShares Performance

0 of 100

Over the last 90 days IShares Russell 2500 has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of rather sound primary indicators, IShares Russell is not utilizing all of its potentials. The latest stock price tumult, may contribute to shorter-term losses for the shareholders.

Unified Series and IShares Russell Volatility Contrast

   Predicted Return Density   

Pair Trading with Unified Series and IShares Russell

The main advantage of trading using opposite Unified Series and IShares Russell positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Unified Series position performs unexpectedly, IShares Russell 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 IShares Russell will offset losses from the drop in IShares Russell's long position.
Unified Series vs. JPMorgan Chase Co
Unified Series vs. Morningstar Unconstrained Allocation
Unified Series vs. Aeye Inc
Unified Series vs. Dallasnews Corp
The idea behind Unified Series Trust and IShares Russell 2500 pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.
IShares Russell vs. ZEGA Buy And
IShares Russell vs. Hartford Total Return
IShares Russell vs. Zillow Group
IShares Russell vs. Hull Tactical US
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 Alpha Finder module to use alpha and beta coefficients to find investment opportunities after accounting for the risk.

Other Complementary Tools

Portfolio Comparator
Compare the composition, asset allocations and performance of any two portfolios in your account
Equity Analysis
Research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities
Equity Valuation
Check real value of public entities based on technical and fundamental data
Global Correlations
Find global opportunities by holding instruments from different markets
Positions Ratings
Determine portfolio positions ratings based on digital equity recommendations. Macroaxis instant position ratings are based on combination of fundamental analysis and risk-adjusted market performance
Volatility Analysis
Get historical volatility and risk analysis based on latest market data
Probability Of Bankruptcy
Get analysis of equity chance of financial distress in the next 2 years
Efficient Frontier
Plot and analyze your portfolio and positions against risk-return landscape of the market.