Correlation Between Sa Worldwide and Astor Long/short
Can any of the company-specific risk be diversified away by investing in both Sa Worldwide and Astor Long/short 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 Sa Worldwide and Astor Long/short into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Sa Worldwide Moderate and Astor Longshort Fund, you can compare the effects of market volatilities on Sa Worldwide and Astor Long/short 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 Sa Worldwide with a short position of Astor Long/short. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sa Worldwide and Astor Long/short.
Diversification Opportunities for Sa Worldwide and Astor Long/short
0.94 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between SAWMX and Astor is 0.94. Overlapping area represents the amount of risk that can be diversified away by holding Sa Worldwide Moderate and Astor Longshort Fund in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Astor Long/short and Sa Worldwide 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 Sa Worldwide Moderate are associated (or correlated) with Astor Long/short. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Astor Long/short has no effect on the direction of Sa Worldwide i.e., Sa Worldwide and Astor Long/short go up and down completely randomly.
Pair Corralation between Sa Worldwide and Astor Long/short
Assuming the 90 days horizon Sa Worldwide Moderate is expected to generate 0.98 times more return on investment than Astor Long/short. However, Sa Worldwide Moderate is 1.02 times less risky than Astor Long/short. It trades about 0.17 of its potential returns per unit of risk. Astor Longshort Fund is currently generating about 0.13 per unit of risk. If you would invest 1,267 in Sa Worldwide Moderate on September 2, 2025 and sell it today you would earn a total of 55.00 from holding Sa Worldwide Moderate or generate 4.34% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Sa Worldwide Moderate vs. Astor Longshort Fund
Performance |
| Timeline |
| Sa Worldwide Moderate |
| Astor Long/short |
Sa Worldwide and Astor Long/short Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Sa Worldwide and Astor Long/short
The main advantage of trading using opposite Sa Worldwide and Astor Long/short positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sa Worldwide position performs unexpectedly, Astor Long/short 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 Astor Long/short will offset losses from the drop in Astor Long/short's long position.| Sa Worldwide vs. Lord Abbett Diversified | Sa Worldwide vs. Wells Fargo Diversified | Sa Worldwide vs. Allianzgi Diversified Income | Sa Worldwide vs. Manning Napier Diversified |
| Astor Long/short vs. Rbb Fund | Astor Long/short vs. Rational Dividend Capture | Astor Long/short vs. Federated Municipal High | Astor Long/short vs. T Rowe Price |
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 Watchlist Optimization module to optimize watchlists to build efficient portfolios or rebalance existing positions based on the mean-variance optimization algorithm.
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