Correlation Between Astronics and Ms Global
Can any of the company-specific risk be diversified away by investing in both Astronics and Ms 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 Astronics and Ms Global into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Astronics and Ms Global Fixed, you can compare the effects of market volatilities on Astronics and Ms 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 Astronics with a short position of Ms Global. Check out your portfolio center. Please also check ongoing floating volatility patterns of Astronics and Ms Global.
Diversification Opportunities for Astronics and Ms Global
Very poor diversification
The 3 months correlation between Astronics and MFIRX is 0.82. Overlapping area represents the amount of risk that can be diversified away by holding Astronics and Ms Global Fixed in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Ms Global Fixed and Astronics 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 Astronics are associated (or correlated) with Ms Global. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Ms Global Fixed has no effect on the direction of Astronics i.e., Astronics and Ms Global go up and down completely randomly.
Pair Corralation between Astronics and Ms Global
Given the investment horizon of 90 days Astronics is expected to generate 19.64 times more return on investment than Ms Global. However, Astronics is 19.64 times more volatile than Ms Global Fixed. It trades about 0.1 of its potential returns per unit of risk. Ms Global Fixed is currently generating about 0.12 per unit of risk. If you would invest 1,971 in Astronics on March 31, 2025 and sell it today you would earn a total of 1,373 from holding Astronics or generate 69.66% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Astronics vs. Ms Global Fixed
Performance |
| Timeline |
| Astronics |
| Ms Global Fixed |
Astronics and Ms Global Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Astronics and Ms Global
The main advantage of trading using opposite Astronics and Ms Global positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Astronics position performs unexpectedly, Ms 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 Ms Global will offset losses from the drop in Ms Global's long position.| Astronics vs. Ducommun Incorporated | Astronics vs. Innovative Solutions and | Astronics vs. National Presto Industries | Astronics vs. Park Electrochemical |
| Ms Global vs. Gold And Precious | Ms Global vs. The Gold Bullion | Ms Global vs. Precious Metals And | Ms Global vs. Global Gold Fund |
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 Theme Ratings module to determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance.
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