Correlation Between USCF SummerHaven and Neuberger Berman
Can any of the company-specific risk be diversified away by investing in both USCF SummerHaven and Neuberger Berman 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 USCF SummerHaven and Neuberger Berman into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between USCF SummerHaven Dynamic and Neuberger Berman Commodity, you can compare the effects of market volatilities on USCF SummerHaven and Neuberger Berman 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 USCF SummerHaven with a short position of Neuberger Berman. Check out your portfolio center. Please also check ongoing floating volatility patterns of USCF SummerHaven and Neuberger Berman.
Diversification Opportunities for USCF SummerHaven and Neuberger Berman
0.85 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between USCF and Neuberger is 0.85. Overlapping area represents the amount of risk that can be diversified away by holding USCF SummerHaven Dynamic and Neuberger Berman Commodity in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Neuberger Berman Com and USCF SummerHaven 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 USCF SummerHaven Dynamic are associated (or correlated) with Neuberger Berman. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Neuberger Berman Com has no effect on the direction of USCF SummerHaven i.e., USCF SummerHaven and Neuberger Berman go up and down completely randomly.
Pair Corralation between USCF SummerHaven and Neuberger Berman
Given the investment horizon of 90 days USCF SummerHaven Dynamic is expected to generate 1.21 times more return on investment than Neuberger Berman. However, USCF SummerHaven is 1.21 times more volatile than Neuberger Berman Commodity. It trades about 0.16 of its potential returns per unit of risk. Neuberger Berman Commodity is currently generating about 0.1 per unit of risk. If you would invest 2,091 in USCF SummerHaven Dynamic on June 3, 2025 and sell it today you would earn a total of 169.00 from holding USCF SummerHaven Dynamic or generate 8.08% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
USCF SummerHaven Dynamic vs. Neuberger Berman Commodity
Performance |
| Timeline |
| USCF SummerHaven Dynamic |
| Neuberger Berman Com |
USCF SummerHaven and Neuberger Berman Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with USCF SummerHaven and Neuberger Berman
The main advantage of trading using opposite USCF SummerHaven and Neuberger Berman positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if USCF SummerHaven position performs unexpectedly, Neuberger Berman 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 Neuberger Berman will offset losses from the drop in Neuberger Berman's long position.| USCF SummerHaven vs. abrdn Bloomberg All | USCF SummerHaven vs. GraniteShares Bloomberg Commodity | USCF SummerHaven vs. iShares Bloomberg Roll | USCF SummerHaven vs. iShares Commodity Curve |
| Neuberger Berman vs. iShares Bloomberg Roll | Neuberger Berman vs. Harbor All Weather Inflation | Neuberger Berman vs. VanEck Inflation Allocation | Neuberger Berman vs. USCF SummerHaven Dynamic |
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 Sign In To Macroaxis module to sign in to explore Macroaxis' wealth optimization platform and fintech modules.
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