Correlation Between Dunham Real and Access Capital
Can any of the company-specific risk be diversified away by investing in both Dunham Real and Access Capital 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 Real and Access Capital into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Dunham Real Estate and Access Capital Munity, you can compare the effects of market volatilities on Dunham Real and Access Capital 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 Real with a short position of Access Capital. Check out your portfolio center. Please also check ongoing floating volatility patterns of Dunham Real and Access Capital.
Diversification Opportunities for Dunham Real and Access Capital
-0.37 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Dunham and Access is -0.37. Overlapping area represents the amount of risk that can be diversified away by holding Dunham Real Estate and Access Capital Munity in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Access Capital Munity and Dunham Real 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 Real Estate are associated (or correlated) with Access Capital. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Access Capital Munity has no effect on the direction of Dunham Real i.e., Dunham Real and Access Capital go up and down completely randomly.
Pair Corralation between Dunham Real and Access Capital
Assuming the 90 days horizon Dunham Real Estate is expected to under-perform the Access Capital. In addition to that, Dunham Real is 3.87 times more volatile than Access Capital Munity. It trades about -0.02 of its total potential returns per unit of risk. Access Capital Munity is currently generating about 0.19 per unit of volatility. If you would invest 757.00 in Access Capital Munity on June 12, 2025 and sell it today you would earn a total of 25.00 from holding Access Capital Munity or generate 3.3% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Dunham Real Estate vs. Access Capital Munity
Performance |
| Timeline |
| Dunham Real Estate |
| Access Capital Munity |
Dunham Real and Access Capital Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Dunham Real and Access Capital
The main advantage of trading using opposite Dunham Real and Access Capital positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Dunham Real position performs unexpectedly, Access Capital 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 Access Capital will offset losses from the drop in Access Capital's long position.| Dunham Real vs. Dana Large Cap | Dunham Real vs. Prudential Qma Large Cap | Dunham Real vs. Tax Managed Large Cap | Dunham Real vs. Lord Abbett Affiliated |
| Access Capital vs. American Funds Government | Access Capital vs. American Funds Government | Access Capital vs. Vanguard Gnma Fund | Access Capital vs. Vanguard Intermediate Term Government |
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 Money Managers module to screen money managers from public funds and ETFs managed around the world.
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