Correlation Between Six Circles and Ashmore Emerging
Can any of the company-specific risk be diversified away by investing in both Six Circles and Ashmore Emerging 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 Six Circles and Ashmore Emerging into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Six Circles Credit and Ashmore Emerging Markets, you can compare the effects of market volatilities on Six Circles and Ashmore Emerging 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 Six Circles with a short position of Ashmore Emerging. Check out your portfolio center. Please also check ongoing floating volatility patterns of Six Circles and Ashmore Emerging.
Diversification Opportunities for Six Circles and Ashmore Emerging
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Six and Ashmore is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Six Circles Credit and Ashmore Emerging Markets in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Ashmore Emerging Markets and Six Circles 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 Six Circles Credit are associated (or correlated) with Ashmore Emerging. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Ashmore Emerging Markets has no effect on the direction of Six Circles i.e., Six Circles and Ashmore Emerging go up and down completely randomly.
Pair Corralation between Six Circles and Ashmore Emerging
If you would invest 899.00 in Six Circles Credit on June 2, 2025 and sell it today you would earn a total of 6.00 from holding Six Circles Credit or generate 0.67% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Six Circles Credit vs. Ashmore Emerging Markets
Performance |
| Timeline |
| Six Circles Credit |
| Ashmore Emerging Markets |
Risk-Adjusted Performance
Weakest
Weak | Strong |
Six Circles and Ashmore Emerging Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Six Circles and Ashmore Emerging
The main advantage of trading using opposite Six Circles and Ashmore Emerging positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Six Circles position performs unexpectedly, Ashmore Emerging 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 Ashmore Emerging will offset losses from the drop in Ashmore Emerging's long position.| Six Circles vs. Allianzgi Convertible Income | Six Circles vs. Advent Claymore Convertible | Six Circles vs. Harbor Vertible Securities | Six Circles vs. The Gamco Global |
| Ashmore Emerging vs. Prudential High Yield | Ashmore Emerging vs. Jpmorgan High Yield | Ashmore Emerging vs. Janus High Yield Fund | Ashmore Emerging vs. Ab High Income |
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 Portfolio Volatility module to check portfolio volatility and analyze historical return density to properly model market risk.
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