Correlation Between Multi-asset Growth and Pender Real
Can any of the company-specific risk be diversified away by investing in both Multi-asset Growth and Pender Real 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 Multi-asset Growth and Pender Real into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Multi Asset Growth Strategy and Pender Real Estate, you can compare the effects of market volatilities on Multi-asset Growth and Pender Real 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 Multi-asset Growth with a short position of Pender Real. Check out your portfolio center. Please also check ongoing floating volatility patterns of Multi-asset Growth and Pender Real.
Diversification Opportunities for Multi-asset Growth and Pender Real
0.94 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Multi-asset and Pender is 0.94. Overlapping area represents the amount of risk that can be diversified away by holding Multi Asset Growth Strategy and Pender Real Estate in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Pender Real Estate and Multi-asset Growth 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 Multi Asset Growth Strategy are associated (or correlated) with Pender Real. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Pender Real Estate has no effect on the direction of Multi-asset Growth i.e., Multi-asset Growth and Pender Real go up and down completely randomly.
Pair Corralation between Multi-asset Growth and Pender Real
Assuming the 90 days horizon Multi Asset Growth Strategy is expected to generate 8.87 times more return on investment than Pender Real. However, Multi-asset Growth is 8.87 times more volatile than Pender Real Estate. It trades about 0.39 of its potential returns per unit of risk. Pender Real Estate is currently generating about 0.59 per unit of risk. If you would invest 1,020 in Multi Asset Growth Strategy on April 20, 2025 and sell it today you would earn a total of 113.00 from holding Multi Asset Growth Strategy or generate 11.08% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Multi Asset Growth Strategy vs. Pender Real Estate
Performance |
| Timeline |
| Multi Asset Growth |
| Pender Real Estate |
Multi-asset Growth and Pender Real Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Multi-asset Growth and Pender Real
The main advantage of trading using opposite Multi-asset Growth and Pender Real positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Multi-asset Growth position performs unexpectedly, Pender Real 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 Pender Real will offset losses from the drop in Pender Real's long position.| Multi-asset Growth vs. Mid Cap Growth | Multi-asset Growth vs. Chase Growth Fund | Multi-asset Growth vs. Needham Aggressive Growth | Multi-asset Growth vs. Morningstar Growth Etf |
| Pender Real vs. Multi Asset Growth Strategy | Pender Real vs. Sa Emerging Markets | Pender Real vs. Siit Emerging Markets | Pender Real vs. Wcm Focused Emerging |
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 Money Flow Index module to determine momentum by analyzing Money Flow Index and other technical indicators.
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