Correlation Between Nuveen Managed and Doubleline Emerging
Can any of the company-specific risk be diversified away by investing in both Nuveen Managed 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 Nuveen Managed and Doubleline Emerging into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Nuveen Managed Accounts and Doubleline Emerging Markets, you can compare the effects of market volatilities on Nuveen Managed 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 Nuveen Managed with a short position of Doubleline Emerging. Check out your portfolio center. Please also check ongoing floating volatility patterns of Nuveen Managed and Doubleline Emerging.
Diversification Opportunities for Nuveen Managed and Doubleline Emerging
0.64 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Nuveen and Doubleline is 0.64. Overlapping area represents the amount of risk that can be diversified away by holding Nuveen Managed Accounts and Doubleline Emerging Markets in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Doubleline Emerging and Nuveen Managed 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 Nuveen Managed Accounts 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 Nuveen Managed i.e., Nuveen Managed and Doubleline Emerging go up and down completely randomly.
Pair Corralation between Nuveen Managed and Doubleline Emerging
Assuming the 90 days horizon Nuveen Managed Accounts is expected to generate 0.66 times more return on investment than Doubleline Emerging. However, Nuveen Managed Accounts is 1.52 times less risky than Doubleline Emerging. It trades about 0.09 of its potential returns per unit of risk. Doubleline Emerging Markets is currently generating about 0.05 per unit of risk. If you would invest 918.00 in Nuveen Managed Accounts on March 26, 2025 and sell it today you would earn a total of 124.00 from holding Nuveen Managed Accounts or generate 13.51% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Nuveen Managed Accounts vs. Doubleline Emerging Markets
Performance |
| Timeline |
| Nuveen Managed Accounts |
| Doubleline Emerging |
Nuveen Managed and Doubleline Emerging Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Nuveen Managed and Doubleline Emerging
The main advantage of trading using opposite Nuveen Managed and Doubleline Emerging positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Nuveen Managed 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.| Nuveen Managed vs. Oppenheimer Gold Special | Nuveen Managed vs. Wells Fargo Advantage | Nuveen Managed vs. Goldman Sachs Clean | Nuveen Managed vs. Fidelity Advisor Gold |
| Doubleline Emerging vs. Fulcrum Diversified Absolute | Doubleline Emerging vs. Delaware Limited Term Diversified | Doubleline Emerging vs. Rbb Fund | Doubleline Emerging vs. Elfun Diversified 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 Stock Tickers module to use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites.
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