Correlation Between Scharf Global and Pacer Global
Can any of the company-specific risk be diversified away by investing in both Scharf Global and Pacer Global 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 Scharf Global and Pacer Global into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Scharf Global Opportunity and Pacer Global Cash, you can compare the effects of market volatilities on Scharf Global and Pacer Global 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 Scharf Global with a short position of Pacer Global. Check out your portfolio center. Please also check ongoing floating volatility patterns of Scharf Global and Pacer Global.
Diversification Opportunities for Scharf Global and Pacer Global
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Scharf and Pacer is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Scharf Global Opportunity and Pacer Global Cash in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Pacer Global Cash and Scharf Global 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 Scharf Global Opportunity are associated (or correlated) with Pacer Global. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Pacer Global Cash has no effect on the direction of Scharf Global i.e., Scharf Global and Pacer Global go up and down completely randomly.
Pair Corralation between Scharf Global and Pacer Global
If you would invest 3,953 in Pacer Global Cash on September 3, 2025 and sell it today you would earn a total of 192.00 from holding Pacer Global Cash or generate 4.86% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 1.59% |
| Values | Daily Returns |
Scharf Global Opportunity vs. Pacer Global Cash
Performance |
| Timeline |
| Scharf Global Opportunity |
Risk-Adjusted Performance
Mild
Weak | Strong |
| Pacer Global Cash |
Scharf Global and Pacer Global Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Scharf Global and Pacer Global
The main advantage of trading using opposite Scharf Global and Pacer Global positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Scharf Global position performs unexpectedly, Pacer Global 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 Pacer Global will offset losses from the drop in Pacer Global's long position.| Scharf Global vs. FT Vest Equity | Scharf Global vs. Northern Lights | Scharf Global vs. Diamond Hill Funds | Scharf Global vs. Dimensional International High |
| Pacer Global vs. Strategy Shares | Pacer Global vs. Freedom Day Dividend | Pacer Global vs. Franklin Templeton ETF | Pacer Global vs. iShares MSCI China |
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 Bond Analysis module to evaluate and analyze corporate bonds as a potential investment for your portfolios..
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