Correlation Between Delaware Healthcare and Astor Long/short
Can any of the company-specific risk be diversified away by investing in both Delaware Healthcare and Astor Long/short 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 Astor Long/short 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 Astor Longshort Fund, you can compare the effects of market volatilities on Delaware Healthcare and Astor Long/short 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 Astor Long/short. Check out your portfolio center. Please also check ongoing floating volatility patterns of Delaware Healthcare and Astor Long/short.
Diversification Opportunities for Delaware Healthcare and Astor Long/short
0.74 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Delaware and Astor is 0.74. Overlapping area represents the amount of risk that can be diversified away by holding Delaware Healthcare Fund and Astor Longshort Fund in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Astor Long/short 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 Astor Long/short. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Astor Long/short has no effect on the direction of Delaware Healthcare i.e., Delaware Healthcare and Astor Long/short go up and down completely randomly.
Pair Corralation between Delaware Healthcare and Astor Long/short
Assuming the 90 days horizon Delaware Healthcare Fund is expected to generate 3.54 times more return on investment than Astor Long/short. However, Delaware Healthcare is 3.54 times more volatile than Astor Longshort Fund. It trades about 0.2 of its potential returns per unit of risk. Astor Longshort Fund is currently generating about 0.25 per unit of risk. If you would invest 2,268 in Delaware Healthcare Fund on July 11, 2025 and sell it today you would earn a total of 324.00 from holding Delaware Healthcare Fund or generate 14.29% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Delaware Healthcare Fund vs. Astor Longshort Fund
Performance |
| Timeline |
| Delaware Healthcare |
| Astor Long/short |
Delaware Healthcare and Astor Long/short Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Delaware Healthcare and Astor Long/short
The main advantage of trading using opposite Delaware Healthcare and Astor Long/short positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Delaware Healthcare position performs unexpectedly, Astor Long/short 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 Astor Long/short will offset losses from the drop in Astor Long/short's long position.| Delaware Healthcare vs. Versatile Bond Portfolio | Delaware Healthcare vs. Tfa Alphagen Growth | Delaware Healthcare vs. Wabmsx | Delaware Healthcare vs. Ab Global Risk |
| Astor Long/short vs. Massmutual Premier Diversified | Astor Long/short vs. Manning Napier Diversified | Astor Long/short vs. Global Diversified Income | Astor Long/short vs. Tiaa Cref Lifestyle Conservative |
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 Efficient Frontier module to plot and analyze your portfolio and positions against risk-return landscape of the market..
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