Correlation Between Chase Growth and Shelton Funds
Can any of the company-specific risk be diversified away by investing in both Chase Growth and Shelton Funds 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 Chase Growth and Shelton Funds into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Chase Growth Fund and Shelton Funds , you can compare the effects of market volatilities on Chase Growth and Shelton Funds 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 Chase Growth with a short position of Shelton Funds. Check out your portfolio center. Please also check ongoing floating volatility patterns of Chase Growth and Shelton Funds.
Diversification Opportunities for Chase Growth and Shelton Funds
0.69 | Correlation Coefficient |
Poor diversification
The 3 months correlation between CHASE and Shelton is 0.69. Overlapping area represents the amount of risk that can be diversified away by holding Chase Growth Fund and Shelton Funds in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Shelton Funds and Chase Growth 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 Chase Growth Fund are associated (or correlated) with Shelton Funds. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Shelton Funds has no effect on the direction of Chase Growth i.e., Chase Growth and Shelton Funds go up and down completely randomly.
Pair Corralation between Chase Growth and Shelton Funds
Assuming the 90 days horizon Chase Growth is expected to generate 1.22 times less return on investment than Shelton Funds. In addition to that, Chase Growth is 1.09 times more volatile than Shelton Funds . It trades about 0.07 of its total potential returns per unit of risk. Shelton Funds is currently generating about 0.09 per unit of volatility. If you would invest 4,334 in Shelton Funds on June 7, 2025 and sell it today you would earn a total of 62.00 from holding Shelton Funds or generate 1.43% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Chase Growth Fund vs. Shelton Funds
Performance |
| Timeline |
| Chase Growth |
| Shelton Funds |
Chase Growth and Shelton Funds Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Chase Growth and Shelton Funds
The main advantage of trading using opposite Chase Growth and Shelton Funds positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Chase Growth position performs unexpectedly, Shelton Funds 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 Shelton Funds will offset losses from the drop in Shelton Funds' long position.| Chase Growth vs. Cambiar Opportunity Fund | Chase Growth vs. The Chesapeake Growth | Chase Growth vs. The Jensen Portfolio | Chase Growth vs. Aston Montag Caldwell |
| Shelton Funds vs. Deutsche Health And | Shelton Funds vs. Alger Health Sciences | Shelton Funds vs. The Hartford Healthcare | Shelton Funds vs. Schwab Health Care |
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 Idea Breakdown module to analyze constituents of all Macroaxis ideas. Macroaxis investment ideas are predefined, sector-focused investing themes.
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