Correlation Between Massmutual Premier and Doubleline Emerging
Can any of the company-specific risk be diversified away by investing in both Massmutual Premier and Doubleline 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 Massmutual Premier and Doubleline Emerging into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Massmutual Premier Diversified and Doubleline Emerging Markets, you can compare the effects of market volatilities on Massmutual Premier and Doubleline 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 Massmutual Premier with a short position of Doubleline Emerging. Check out your portfolio center. Please also check ongoing floating volatility patterns of Massmutual Premier and Doubleline Emerging.
Diversification Opportunities for Massmutual Premier and Doubleline Emerging
0.93 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between MASSMUTUAL and DoubleLine is 0.93. Overlapping area represents the amount of risk that can be diversified away by holding Massmutual Premier Diversified and Doubleline Emerging Markets in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Doubleline Emerging and Massmutual Premier 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 Massmutual Premier Diversified are associated (or correlated) with Doubleline Emerging. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Doubleline Emerging has no effect on the direction of Massmutual Premier i.e., Massmutual Premier and Doubleline Emerging go up and down completely randomly.
Pair Corralation between Massmutual Premier and Doubleline Emerging
Assuming the 90 days horizon Massmutual Premier is expected to generate 1.53 times less return on investment than Doubleline Emerging. But when comparing it to its historical volatility, Massmutual Premier Diversified is 1.58 times less risky than Doubleline Emerging. It trades about 0.21 of its potential returns per unit of risk. Doubleline Emerging Markets is currently generating about 0.2 of returns per unit of risk over similar time horizon. If you would invest 899.00 in Doubleline Emerging Markets on June 6, 2025 and sell it today you would earn a total of 39.00 from holding Doubleline Emerging Markets or generate 4.34% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Massmutual Premier Diversified vs. Doubleline Emerging Markets
Performance |
| Timeline |
| Massmutual Premier |
| Doubleline Emerging |
Massmutual Premier and Doubleline Emerging Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Massmutual Premier and Doubleline Emerging
The main advantage of trading using opposite Massmutual Premier and Doubleline Emerging positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Massmutual Premier position performs unexpectedly, Doubleline 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 Doubleline Emerging will offset losses from the drop in Doubleline Emerging's long position.| Massmutual Premier vs. Buffalo High Yield | Massmutual Premier vs. Strategic Advisers Income | Massmutual Premier vs. Transamerica High Yield | Massmutual Premier vs. City National Rochdale |
| Doubleline Emerging vs. Qs Growth Fund | Doubleline Emerging vs. T Rowe Price | Doubleline Emerging vs. Vanguard Mega Cap | Doubleline Emerging vs. Tfa Alphagen Growth |
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 Price Exposure Probability module to analyze equity upside and downside potential for a given time horizon across multiple markets.
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