Correlation Between Astor Long/short and Chartwell Short
Can any of the company-specific risk be diversified away by investing in both Astor Long/short and Chartwell Short 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 Astor Long/short and Chartwell Short into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Astor Longshort Fund and Chartwell Short Duration, you can compare the effects of market volatilities on Astor Long/short and Chartwell Short 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 Astor Long/short with a short position of Chartwell Short. Check out your portfolio center. Please also check ongoing floating volatility patterns of Astor Long/short and Chartwell Short.
Diversification Opportunities for Astor Long/short and Chartwell Short
0.93 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Astor and Chartwell is 0.93. Overlapping area represents the amount of risk that can be diversified away by holding Astor Longshort Fund and Chartwell Short Duration in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Chartwell Short Duration and Astor Long/short 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 Astor Longshort Fund are associated (or correlated) with Chartwell Short. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Chartwell Short Duration has no effect on the direction of Astor Long/short i.e., Astor Long/short and Chartwell Short go up and down completely randomly.
Pair Corralation between Astor Long/short and Chartwell Short
Assuming the 90 days horizon Astor Longshort Fund is expected to generate 2.89 times more return on investment than Chartwell Short. However, Astor Long/short is 2.89 times more volatile than Chartwell Short Duration. It trades about 0.22 of its potential returns per unit of risk. Chartwell Short Duration is currently generating about 0.22 per unit of risk. If you would invest 1,283 in Astor Longshort Fund on June 10, 2025 and sell it today you would earn a total of 60.00 from holding Astor Longshort Fund or generate 4.68% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Astor Longshort Fund vs. Chartwell Short Duration
Performance |
| Timeline |
| Astor Long/short |
| Chartwell Short Duration |
Astor Long/short and Chartwell Short Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Astor Long/short and Chartwell Short
The main advantage of trading using opposite Astor Long/short and Chartwell Short positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Astor Long/short position performs unexpectedly, Chartwell Short 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 Chartwell Short will offset losses from the drop in Chartwell Short's long position.| Astor Long/short vs. Astor Star Fund | Astor Long/short vs. Astor Star Fund | Astor Long/short vs. Astor Longshort Fund | Astor Long/short vs. Astor Longshort Fund |
| Chartwell Short vs. Rational Strategic Allocation | Chartwell Short vs. Nova Fund Class | Chartwell Short vs. Aambahl Gaynor Income | Chartwell Short vs. T Rowe Price |
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 Price Transformation module to use Price Transformation models to analyze the depth of different equity instruments across global markets.
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