Correlation Between Baron Health and Sentinel Small
Can any of the company-specific risk be diversified away by investing in both Baron Health and Sentinel Small 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 Baron Health and Sentinel Small into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Baron Health Care and Sentinel Small Pany, you can compare the effects of market volatilities on Baron Health and Sentinel Small 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 Baron Health with a short position of Sentinel Small. Check out your portfolio center. Please also check ongoing floating volatility patterns of Baron Health and Sentinel Small.
Diversification Opportunities for Baron Health and Sentinel Small
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Baron and Sentinel is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Baron Health Care and Sentinel Small Pany in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Sentinel Small Pany and Baron Health 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 Baron Health Care are associated (or correlated) with Sentinel Small. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Sentinel Small Pany has no effect on the direction of Baron Health i.e., Baron Health and Sentinel Small go up and down completely randomly.
Pair Corralation between Baron Health and Sentinel Small
If you would invest 1,786 in Baron Health Care on June 11, 2025 and sell it today you would earn a total of 100.00 from holding Baron Health Care or generate 5.6% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Baron Health Care vs. Sentinel Small Pany
Performance |
| Timeline |
| Baron Health Care |
| Sentinel Small Pany |
Risk-Adjusted Performance
Fair
Weak | Strong |
Baron Health and Sentinel Small Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Baron Health and Sentinel Small
The main advantage of trading using opposite Baron Health and Sentinel Small positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Baron Health position performs unexpectedly, Sentinel Small 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 Sentinel Small will offset losses from the drop in Sentinel Small's long position.| Baron Health vs. Blackrock Health Sciences | Baron Health vs. Lord Abbett Health | Baron Health vs. Fidelity Advisor Health | Baron Health vs. The Hartford Healthcare |
| Sentinel Small vs. Bmo In Retirement Fund | Sentinel Small vs. Evaluator Moderate Rms | Sentinel Small vs. Sa Worldwide Moderate | Sentinel Small vs. Fidelity Managed Retirement |
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 Earnings Calls module to check upcoming earnings announcements updated hourly across public exchanges.
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