Correlation Between Access Capital and Nasdaq-100(r)
Can any of the company-specific risk be diversified away by investing in both Access Capital and Nasdaq-100(r) 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 Access Capital and Nasdaq-100(r) into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Access Capital Munity and Nasdaq 100 2x Strategy, you can compare the effects of market volatilities on Access Capital and Nasdaq-100(r) 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 Access Capital with a short position of Nasdaq-100(r). Check out your portfolio center. Please also check ongoing floating volatility patterns of Access Capital and Nasdaq-100(r).
Diversification Opportunities for Access Capital and Nasdaq-100(r)
0.77 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Access and Nasdaq-100(r) is 0.77. Overlapping area represents the amount of risk that can be diversified away by holding Access Capital Munity and Nasdaq 100 2x Strategy in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Nasdaq 100 2x and Access 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 Access Capital Munity are associated (or correlated) with Nasdaq-100(r). Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Nasdaq 100 2x has no effect on the direction of Access Capital i.e., Access Capital and Nasdaq-100(r) go up and down completely randomly.
Pair Corralation between Access Capital and Nasdaq-100(r)
Assuming the 90 days horizon Access Capital Munity is expected to generate 0.19 times more return on investment than Nasdaq-100(r). However, Access Capital Munity is 5.29 times less risky than Nasdaq-100(r). It trades about 0.35 of its potential returns per unit of risk. Nasdaq 100 2x Strategy is currently generating about -0.01 per unit of risk. If you would invest 767.00 in Access Capital Munity on June 13, 2025 and sell it today you would earn a total of 15.00 from holding Access Capital Munity or generate 1.96% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Access Capital Munity vs. Nasdaq 100 2x Strategy
Performance |
| Timeline |
| Access Capital Munity |
| Nasdaq 100 2x |
Access Capital and Nasdaq-100(r) Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Access Capital and Nasdaq-100(r)
The main advantage of trading using opposite Access Capital and Nasdaq-100(r) positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Access Capital position performs unexpectedly, Nasdaq-100(r) 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 Nasdaq-100(r) will offset losses from the drop in Nasdaq-100(r)'s long position.| Access Capital vs. Ultra Short Fixed Income | Access Capital vs. Rbc Short Duration | Access Capital vs. The Hartford Servative | Access Capital vs. Balanced Fund Retail |
| Nasdaq-100(r) vs. Versatile Bond Portfolio | Nasdaq-100(r) vs. Pace Strategic Fixed | Nasdaq-100(r) vs. Ab Bond Inflation | Nasdaq-100(r) vs. Gmo High Yield |
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 Competition Analyzer module to analyze and compare many basic indicators for a group of related or unrelated entities.
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