Correlation Between Astor Long/short and Janus Global
Can any of the company-specific risk be diversified away by investing in both Astor Long/short and Janus Global 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 Janus Global 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 Janus Global Allocation, you can compare the effects of market volatilities on Astor Long/short and Janus Global 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 Janus Global. Check out your portfolio center. Please also check ongoing floating volatility patterns of Astor Long/short and Janus Global.
Diversification Opportunities for Astor Long/short and Janus Global
0.69 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Astor and Janus is 0.69. Overlapping area represents the amount of risk that can be diversified away by holding Astor Longshort Fund and Janus Global Allocation in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Janus Global Allocation 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 Janus Global. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Janus Global Allocation has no effect on the direction of Astor Long/short i.e., Astor Long/short and Janus Global go up and down completely randomly.
Pair Corralation between Astor Long/short and Janus Global
Assuming the 90 days horizon Astor Long/short is expected to generate 1.23 times less return on investment than Janus Global. But when comparing it to its historical volatility, Astor Longshort Fund is 1.54 times less risky than Janus Global. It trades about 0.21 of its potential returns per unit of risk. Janus Global Allocation is currently generating about 0.17 of returns per unit of risk over similar time horizon. If you would invest 1,342 in Janus Global Allocation on June 12, 2025 and sell it today you would earn a total of 73.00 from holding Janus Global Allocation or generate 5.44% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 98.39% |
| Values | Daily Returns |
Astor Longshort Fund vs. Janus Global Allocation
Performance |
| Timeline |
| Astor Long/short |
| Janus Global Allocation |
Astor Long/short and Janus Global Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Astor Long/short and Janus Global
The main advantage of trading using opposite Astor Long/short and Janus Global positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Astor Long/short position performs unexpectedly, Janus Global 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 Janus Global will offset losses from the drop in Janus Global's long position.| Astor Long/short vs. Retirement Living Through | Astor Long/short vs. Fidelity Managed Retirement | Astor Long/short vs. Trowe Price Retirement | Astor Long/short vs. Multimanager Lifestyle Moderate |
| Janus Global vs. Financials Ultrasector Profund | Janus Global vs. Profunds Money | Janus Global vs. Prudential Financial Services | Janus Global vs. Ab Government Exchange |
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 Bond Analysis module to evaluate and analyze corporate bonds as a potential investment for your portfolios..
Other Complementary Tools
| 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 | |
| Portfolio Dashboard Portfolio dashboard that provides centralized access to all your investments | |
| Pattern Recognition Use different Pattern Recognition models to time the market across multiple global exchanges | |
| Alpha Finder Use alpha and beta coefficients to find investment opportunities after accounting for the risk | |
| Economic Indicators Top statistical indicators that provide insights into how an economy is performing |