Correlation Between Massmutual Premier and Upright Growth
Can any of the company-specific risk be diversified away by investing in both Massmutual Premier and Upright Growth 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 Upright Growth into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Massmutual Premier Short Duration and Upright Growth Income, you can compare the effects of market volatilities on Massmutual Premier and Upright Growth 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 Upright Growth. Check out your portfolio center. Please also check ongoing floating volatility patterns of Massmutual Premier and Upright Growth.
Diversification Opportunities for Massmutual Premier and Upright Growth
0.86 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Massmutual and Upright is 0.86. Overlapping area represents the amount of risk that can be diversified away by holding Massmutual Premier Short Durat and Upright Growth Income in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Upright Growth Income 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 Short Duration are associated (or correlated) with Upright Growth. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Upright Growth Income has no effect on the direction of Massmutual Premier i.e., Massmutual Premier and Upright Growth go up and down completely randomly.
Pair Corralation between Massmutual Premier and Upright Growth
Assuming the 90 days horizon Massmutual Premier is expected to generate 9.52 times less return on investment than Upright Growth. But when comparing it to its historical volatility, Massmutual Premier Short Duration is 12.22 times less risky than Upright Growth. It trades about 0.24 of its potential returns per unit of risk. Upright Growth Income is currently generating about 0.19 of returns per unit of risk over similar time horizon. If you would invest 1,978 in Upright Growth Income on June 4, 2025 and sell it today you would earn a total of 317.00 from holding Upright Growth Income or generate 16.03% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Massmutual Premier Short Durat vs. Upright Growth Income
Performance |
| Timeline |
| Massmutual Premier |
| Upright Growth Income |
Massmutual Premier and Upright Growth Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Massmutual Premier and Upright Growth
The main advantage of trading using opposite Massmutual Premier and Upright Growth positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Massmutual Premier position performs unexpectedly, Upright Growth 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 Upright Growth will offset losses from the drop in Upright Growth's long position.| Massmutual Premier vs. Rational Strategic Allocation | Massmutual Premier vs. Tfa Alphagen Growth | Massmutual Premier vs. Qs Large Cap | Massmutual Premier vs. L Abbett Growth |
| Upright Growth vs. Rbc Emerging Markets | Upright Growth vs. Astor Longshort Fund | Upright Growth vs. Franklin Emerging Market | Upright Growth vs. Balanced Strategy Fund |
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 Equity Valuation module to check real value of public entities based on technical and fundamental data.
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