Correlation Between Dunham Emerging and Dunham Emerging
Can any of the company-specific risk be diversified away by investing in both Dunham Emerging and Dunham 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 Dunham Emerging and Dunham Emerging into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Dunham Emerging Markets and Dunham Emerging Markets, you can compare the effects of market volatilities on Dunham Emerging and Dunham 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 Dunham Emerging with a short position of Dunham Emerging. Check out your portfolio center. Please also check ongoing floating volatility patterns of Dunham Emerging and Dunham Emerging.
Diversification Opportunities for Dunham Emerging and Dunham Emerging
0.96 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Dunham and Dunham is 0.96. Overlapping area represents the amount of risk that can be diversified away by holding Dunham Emerging Markets and Dunham Emerging Markets in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Dunham Emerging Markets and Dunham Emerging 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 Dunham Emerging Markets are associated (or correlated) with Dunham Emerging. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Dunham Emerging Markets has no effect on the direction of Dunham Emerging i.e., Dunham Emerging and Dunham Emerging go up and down completely randomly.
Pair Corralation between Dunham Emerging and Dunham Emerging
Assuming the 90 days horizon Dunham Emerging is expected to generate 1.08 times less return on investment than Dunham Emerging. In addition to that, Dunham Emerging is 1.01 times more volatile than Dunham Emerging Markets. It trades about 0.18 of its total potential returns per unit of risk. Dunham Emerging Markets is currently generating about 0.2 per unit of volatility. If you would invest 1,428 in Dunham Emerging Markets on May 30, 2025 and sell it today you would earn a total of 141.00 from holding Dunham Emerging Markets or generate 9.87% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Dunham Emerging Markets vs. Dunham Emerging Markets
Performance |
| Timeline |
| Dunham Emerging Markets |
| Dunham Emerging Markets |
Dunham Emerging and Dunham Emerging Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Dunham Emerging and Dunham Emerging
The main advantage of trading using opposite Dunham Emerging and Dunham Emerging positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Dunham Emerging position performs unexpectedly, Dunham 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 Dunham Emerging will offset losses from the drop in Dunham Emerging's long position.| Dunham Emerging vs. Simt Real Estate | Dunham Emerging vs. Rreef Property Trust | Dunham Emerging vs. Tiaa Cref Real Estate | Dunham Emerging vs. T Rowe Price |
| Dunham Emerging vs. Pace Strategic Fixed | Dunham Emerging vs. Morningstar Defensive Bond | Dunham Emerging vs. Ab Bond Inflation | Dunham Emerging vs. T Rowe Price |
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 Insider Screener module to find insiders across different sectors to evaluate their impact on performance.
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