Correlation Between Blrc Sgy and Payden Emerging
Can any of the company-specific risk be diversified away by investing in both Blrc Sgy and Payden 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 Blrc Sgy and Payden Emerging into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Blrc Sgy Mnp and Payden Emerging Markets, you can compare the effects of market volatilities on Blrc Sgy and Payden 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 Blrc Sgy with a short position of Payden Emerging. Check out your portfolio center. Please also check ongoing floating volatility patterns of Blrc Sgy and Payden Emerging.
Diversification Opportunities for Blrc Sgy and Payden Emerging
0.47 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Blrc and Payden is 0.47. Overlapping area represents the amount of risk that can be diversified away by holding Blrc Sgy Mnp and Payden Emerging Markets in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Payden Emerging Markets and Blrc Sgy 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 Blrc Sgy Mnp are associated (or correlated) with Payden Emerging. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Payden Emerging Markets has no effect on the direction of Blrc Sgy i.e., Blrc Sgy and Payden Emerging go up and down completely randomly.
Pair Corralation between Blrc Sgy and Payden Emerging
Assuming the 90 days horizon Blrc Sgy is expected to generate 1.94 times less return on investment than Payden Emerging. In addition to that, Blrc Sgy is 2.1 times more volatile than Payden Emerging Markets. It trades about 0.06 of its total potential returns per unit of risk. Payden Emerging Markets is currently generating about 0.24 per unit of volatility. If you would invest 743.00 in Payden Emerging Markets on June 12, 2025 and sell it today you would earn a total of 146.00 from holding Payden Emerging Markets or generate 19.65% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Blrc Sgy Mnp vs. Payden Emerging Markets
Performance |
| Timeline |
| Blrc Sgy Mnp |
| Payden Emerging Markets |
Blrc Sgy and Payden Emerging Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Blrc Sgy and Payden Emerging
The main advantage of trading using opposite Blrc Sgy and Payden Emerging positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Blrc Sgy position performs unexpectedly, Payden 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 Payden Emerging will offset losses from the drop in Payden Emerging's long position.| Blrc Sgy vs. Dreyfusstandish Global Fixed | Blrc Sgy vs. Morningstar Defensive Bond | Blrc Sgy vs. Intermediate Term Bond Fund | Blrc Sgy vs. Ft 9331 Corporate |
| Payden Emerging vs. Lord Abbett Inflation | Payden Emerging vs. Ab Bond Inflation | Payden Emerging vs. Cref Inflation Linked Bond | Payden Emerging vs. Ab Bond Inflation |
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 USA ETFs module to find actively traded Exchange Traded Funds (ETF) in USA.
Other Complementary Tools
| Technical Analysis Check basic technical indicators and analysis based on most latest market data | |
| Portfolio Optimization Compute new portfolio that will generate highest expected return given your specified tolerance for risk | |
| FinTech Suite Use AI to screen and filter profitable investment opportunities | |
| Performance Analysis Check effects of mean-variance optimization against your current asset allocation | |
| Commodity Directory Find actively traded commodities issued by global exchanges |