Correlation Between Gurtin California and Mfs Intrinsic
Can any of the company-specific risk be diversified away by investing in both Gurtin California and Mfs Intrinsic 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 Gurtin California and Mfs Intrinsic into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Gurtin California Muni and Mfs Intrinsic Value, you can compare the effects of market volatilities on Gurtin California and Mfs Intrinsic 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 Gurtin California with a short position of Mfs Intrinsic. Check out your portfolio center. Please also check ongoing floating volatility patterns of Gurtin California and Mfs Intrinsic.
Diversification Opportunities for Gurtin California and Mfs Intrinsic
0.86 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Gurtin and Mfs is 0.86. Overlapping area represents the amount of risk that can be diversified away by holding Gurtin California Muni and Mfs Intrinsic Value in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Mfs Intrinsic Value and Gurtin California 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 Gurtin California Muni are associated (or correlated) with Mfs Intrinsic. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Mfs Intrinsic Value has no effect on the direction of Gurtin California i.e., Gurtin California and Mfs Intrinsic go up and down completely randomly.
Pair Corralation between Gurtin California and Mfs Intrinsic
Assuming the 90 days horizon Gurtin California is expected to generate 8.99 times less return on investment than Mfs Intrinsic. But when comparing it to its historical volatility, Gurtin California Muni is 6.01 times less risky than Mfs Intrinsic. It trades about 0.03 of its potential returns per unit of risk. Mfs Intrinsic Value is currently generating about 0.05 of returns per unit of risk over similar time horizon. If you would invest 1,211 in Mfs Intrinsic Value on May 27, 2025 and sell it today you would earn a total of 91.00 from holding Mfs Intrinsic Value or generate 7.51% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Gurtin California Muni vs. Mfs Intrinsic Value
Performance |
| Timeline |
| Gurtin California Muni |
| Mfs Intrinsic Value |
Gurtin California and Mfs Intrinsic Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Gurtin California and Mfs Intrinsic
The main advantage of trading using opposite Gurtin California and Mfs Intrinsic positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Gurtin California position performs unexpectedly, Mfs Intrinsic 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 Mfs Intrinsic will offset losses from the drop in Mfs Intrinsic's long position.| Gurtin California vs. Fidelity Managed Retirement | Gurtin California vs. Blackrock Moderate Prepared | Gurtin California vs. Tiaa Cref Lifestyle Moderate | Gurtin California vs. Sa Worldwide Moderate |
| Mfs Intrinsic vs. Aqr Diversified Arbitrage | Mfs Intrinsic vs. Wells Fargo Diversified | Mfs Intrinsic vs. Tax Free Conservative Income | Mfs Intrinsic vs. American Funds 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 Portfolio Suggestion module to get suggestions outside of your existing asset allocation including your own model portfolios.
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