Correlation Between Deutsche Multi-asset and Manning Napier
Can any of the company-specific risk be diversified away by investing in both Deutsche Multi-asset and Manning Napier 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 Deutsche Multi-asset and Manning Napier into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Deutsche Multi Asset Moderate and Manning Napier Rainier, you can compare the effects of market volatilities on Deutsche Multi-asset and Manning Napier 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 Deutsche Multi-asset with a short position of Manning Napier. Check out your portfolio center. Please also check ongoing floating volatility patterns of Deutsche Multi-asset and Manning Napier.
Diversification Opportunities for Deutsche Multi-asset and Manning Napier
0.94 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Deutsche and Manning is 0.94. Overlapping area represents the amount of risk that can be diversified away by holding Deutsche Multi Asset Moderate and Manning Napier Rainier in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Manning Napier Rainier and Deutsche Multi-asset 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 Deutsche Multi Asset Moderate are associated (or correlated) with Manning Napier. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Manning Napier Rainier has no effect on the direction of Deutsche Multi-asset i.e., Deutsche Multi-asset and Manning Napier go up and down completely randomly.
Pair Corralation between Deutsche Multi-asset and Manning Napier
Assuming the 90 days horizon Deutsche Multi-asset is expected to generate 1.3 times less return on investment than Manning Napier. But when comparing it to its historical volatility, Deutsche Multi Asset Moderate is 1.81 times less risky than Manning Napier. It trades about 0.2 of its potential returns per unit of risk. Manning Napier Rainier is currently generating about 0.14 of returns per unit of risk over similar time horizon. If you would invest 2,712 in Manning Napier Rainier on June 9, 2025 and sell it today you would earn a total of 177.00 from holding Manning Napier Rainier or generate 6.53% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Deutsche Multi Asset Moderate vs. Manning Napier Rainier
Performance |
| Timeline |
| Deutsche Multi Asset |
| Manning Napier Rainier |
Deutsche Multi-asset and Manning Napier Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Deutsche Multi-asset and Manning Napier
The main advantage of trading using opposite Deutsche Multi-asset and Manning Napier positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Deutsche Multi-asset position performs unexpectedly, Manning Napier 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 Manning Napier will offset losses from the drop in Manning Napier's long position.| Deutsche Multi-asset vs. Deutsche Gnma Fund | Deutsche Multi-asset vs. Deutsche Short Term Municipal | Deutsche Multi-asset vs. Deutsche Short Term Municipal | Deutsche Multi-asset vs. Deutsche Science And |
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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 Analysis module to research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities.
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