Correlation Between Cref Money and Siit High
Can any of the company-specific risk be diversified away by investing in both Cref Money and Siit High 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 Cref Money and Siit High into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Cref Money Market and Siit High Yield, you can compare the effects of market volatilities on Cref Money and Siit High 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 Cref Money with a short position of Siit High. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cref Money and Siit High.
Diversification Opportunities for Cref Money and Siit High
0.45 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Cref and Siit is 0.45. Overlapping area represents the amount of risk that can be diversified away by holding Cref Money Market and Siit High Yield in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Siit High Yield and Cref Money 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 Cref Money Market are associated (or correlated) with Siit High. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Siit High Yield has no effect on the direction of Cref Money i.e., Cref Money and Siit High go up and down completely randomly.
Pair Corralation between Cref Money and Siit High
Assuming the 90 days trading horizon Cref Money Market is expected to generate 0.09 times more return on investment than Siit High. However, Cref Money Market is 11.35 times less risky than Siit High. It trades about 0.91 of its potential returns per unit of risk. Siit High Yield is currently generating about 0.06 per unit of risk. If you would invest 3,068 in Cref Money Market on August 30, 2025 and sell it today you would earn a total of 29.00 from holding Cref Money Market or generate 0.95% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Cref Money Market vs. Siit High Yield
Performance |
| Timeline |
| Cref Money Market |
| Siit High Yield |
Cref Money and Siit High Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Cref Money and Siit High
The main advantage of trading using opposite Cref Money and Siit High positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cref Money position performs unexpectedly, Siit High 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 Siit High will offset losses from the drop in Siit High's long position.| Cref Money vs. Fidelity California Municipal | Cref Money vs. Aig Government Money | Cref Money vs. Ab Impact Municipal | Cref Money vs. Nuveen Wisconsin Municipal |
| Siit High vs. Federated Municipal High | Siit High vs. Fidelity American High | Siit High vs. Calvert Aggressive Allocation | Siit High vs. Morningstar Aggressive 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 Transformation module to use Price Transformation models to analyze the depth of different equity instruments across global markets.
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