Correlation Between Delaware Healthcare and Aqr Large
Can any of the company-specific risk be diversified away by investing in both Delaware Healthcare and Aqr Large 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 Delaware Healthcare and Aqr Large into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Delaware Healthcare Fund and Aqr Large Cap, you can compare the effects of market volatilities on Delaware Healthcare and Aqr Large 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 Delaware Healthcare with a short position of Aqr Large. Check out your portfolio center. Please also check ongoing floating volatility patterns of Delaware Healthcare and Aqr Large.
Diversification Opportunities for Delaware Healthcare and Aqr Large
-0.07 | Correlation Coefficient |
Good diversification
The 3 months correlation between Delaware and Aqr is -0.07. Overlapping area represents the amount of risk that can be diversified away by holding Delaware Healthcare Fund and Aqr Large Cap in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Aqr Large Cap and Delaware Healthcare 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 Delaware Healthcare Fund are associated (or correlated) with Aqr Large. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Aqr Large Cap has no effect on the direction of Delaware Healthcare i.e., Delaware Healthcare and Aqr Large go up and down completely randomly.
Pair Corralation between Delaware Healthcare and Aqr Large
Assuming the 90 days horizon Delaware Healthcare Fund is expected to generate 1.16 times more return on investment than Aqr Large. However, Delaware Healthcare is 1.16 times more volatile than Aqr Large Cap. It trades about 0.21 of its potential returns per unit of risk. Aqr Large Cap is currently generating about 0.04 per unit of risk. If you would invest 2,428 in Delaware Healthcare Fund on September 4, 2025 and sell it today you would earn a total of 354.00 from holding Delaware Healthcare Fund or generate 14.58% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Delaware Healthcare Fund vs. Aqr Large Cap
Performance |
| Timeline |
| Delaware Healthcare |
| Aqr Large Cap |
Delaware Healthcare and Aqr Large Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Delaware Healthcare and Aqr Large
The main advantage of trading using opposite Delaware Healthcare and Aqr Large positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Delaware Healthcare position performs unexpectedly, Aqr Large 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 Aqr Large will offset losses from the drop in Aqr Large's long position.| Delaware Healthcare vs. The Hartford Inflation | Delaware Healthcare vs. Cref Inflation Linked Bond | Delaware Healthcare vs. Guggenheim Managed Futures | Delaware Healthcare vs. Aqr Managed Futures |
| Aqr Large vs. Tekla Healthcare Investors | Aqr Large vs. Delaware Healthcare Fund | Aqr Large vs. Allianzgi Health Sciences | Aqr Large vs. Health Care Ultrasector |
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 Headlines Timeline module to stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity.
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