Correlation Between Simt Multi-asset and Siit High
Can any of the company-specific risk be diversified away by investing in both Simt Multi-asset 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 Simt Multi-asset and Siit High into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Simt Multi Asset Accumulation and Siit High Yield, you can compare the effects of market volatilities on Simt Multi-asset 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 Simt Multi-asset with a short position of Siit High. Check out your portfolio center. Please also check ongoing floating volatility patterns of Simt Multi-asset and Siit High.
Diversification Opportunities for Simt Multi-asset and Siit High
0.94 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Simt and Siit is 0.94. Overlapping area represents the amount of risk that can be diversified away by holding Simt Multi Asset Accumulation 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 Simt 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 Simt Multi Asset Accumulation 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 Simt Multi-asset i.e., Simt Multi-asset and Siit High go up and down completely randomly.
Pair Corralation between Simt Multi-asset and Siit High
Assuming the 90 days horizon Simt Multi Asset Accumulation is expected to generate 2.29 times more return on investment than Siit High. However, Simt Multi-asset is 2.29 times more volatile than Siit High Yield. It trades about 0.22 of its potential returns per unit of risk. Siit High Yield is currently generating about 0.29 per unit of risk. If you would invest 718.00 in Simt Multi Asset Accumulation on May 31, 2025 and sell it today you would earn a total of 41.00 from holding Simt Multi Asset Accumulation or generate 5.71% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 98.41% |
| Values | Daily Returns |
Simt Multi Asset Accumulation vs. Siit High Yield
Performance |
| Timeline |
| Simt Multi Asset |
| Siit High Yield |
Simt Multi-asset and Siit High Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Simt Multi-asset and Siit High
The main advantage of trading using opposite Simt Multi-asset and Siit High positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Simt Multi-asset 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.| Simt Multi-asset vs. Aqr Diversified Arbitrage | Simt Multi-asset vs. Madison Diversified Income | Simt Multi-asset vs. Invesco Diversified Dividend | Simt Multi-asset vs. Jpmorgan Diversified Fund |
| Siit High vs. Ab Municipal Bond | Siit High vs. Lord Abbett Intermediate | Siit High vs. Franklin Adjustable Government | Siit High vs. Virtus Seix Government |
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 Idea Optimizer module to use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio .
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