Correlation Between Issachar Fund and Multi-manager High
Can any of the company-specific risk be diversified away by investing in both Issachar Fund and Multi-manager High 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 Issachar Fund and Multi-manager High into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Issachar Fund Class and Multi Manager High Yield, you can compare the effects of market volatilities on Issachar Fund and Multi-manager High 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 Issachar Fund with a short position of Multi-manager High. Check out your portfolio center. Please also check ongoing floating volatility patterns of Issachar Fund and Multi-manager High.
Diversification Opportunities for Issachar Fund and Multi-manager High
0.84 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Issachar and Multi-manager is 0.84. Overlapping area represents the amount of risk that can be diversified away by holding Issachar Fund Class and Multi Manager High Yield in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Multi Manager High and Issachar Fund 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 Issachar Fund Class are associated (or correlated) with Multi-manager High. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Multi Manager High has no effect on the direction of Issachar Fund i.e., Issachar Fund and Multi-manager High go up and down completely randomly.
Pair Corralation between Issachar Fund and Multi-manager High
Assuming the 90 days horizon Issachar Fund Class is expected to generate 4.49 times more return on investment than Multi-manager High. However, Issachar Fund is 4.49 times more volatile than Multi Manager High Yield. It trades about 0.15 of its potential returns per unit of risk. Multi Manager High Yield is currently generating about 0.47 per unit of risk. If you would invest 927.00 in Issachar Fund Class on April 11, 2025 and sell it today you would earn a total of 79.00 from holding Issachar Fund Class or generate 8.52% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Issachar Fund Class vs. Multi Manager High Yield
Performance |
| Timeline |
| Issachar Fund Class |
| Multi Manager High |
Issachar Fund and Multi-manager High Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Issachar Fund and Multi-manager High
The main advantage of trading using opposite Issachar Fund and Multi-manager High positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Issachar Fund position performs unexpectedly, Multi-manager High 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 Multi-manager High will offset losses from the drop in Multi-manager High's long position.| Issachar Fund vs. Financials Ultrasector Profund | Issachar Fund vs. Gabelli Global Financial | Issachar Fund vs. Financial Industries Fund | Issachar Fund vs. Rmb Mendon Financial |
| Multi-manager High vs. Segall Bryant Hamill | Multi-manager High vs. Barings Active Short | Multi-manager High vs. Prudential Short Duration | Multi-manager High vs. Franklin Federal Limited Term |
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 File Import module to quickly import all of your third-party portfolios from your local drive in csv format.
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