Correlation Between Simt Multi-asset and Summit Global
Can any of the company-specific risk be diversified away by investing in both Simt Multi-asset and Summit Global 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 Summit Global into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Simt Multi Asset Inflation and Summit Global Investments, you can compare the effects of market volatilities on Simt Multi-asset and Summit Global 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 Summit Global. Check out your portfolio center. Please also check ongoing floating volatility patterns of Simt Multi-asset and Summit Global.
Diversification Opportunities for Simt Multi-asset and Summit Global
0.71 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Simt and Summit is 0.71. Overlapping area represents the amount of risk that can be diversified away by holding Simt Multi Asset Inflation and Summit Global Investments in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Summit Global Investments 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 Inflation are associated (or correlated) with Summit Global. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Summit Global Investments has no effect on the direction of Simt Multi-asset i.e., Simt Multi-asset and Summit Global go up and down completely randomly.
Pair Corralation between Simt Multi-asset and Summit Global
Assuming the 90 days horizon Simt Multi-asset is expected to generate 2.02 times less return on investment than Summit Global. But when comparing it to its historical volatility, Simt Multi Asset Inflation is 2.87 times less risky than Summit Global. It trades about 0.38 of its potential returns per unit of risk. Summit Global Investments is currently generating about 0.27 of returns per unit of risk over similar time horizon. If you would invest 1,729 in Summit Global Investments on September 2, 2025 and sell it today you would earn a total of 64.00 from holding Summit Global Investments or generate 3.7% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Simt Multi Asset Inflation vs. Summit Global Investments
Performance |
| Timeline |
| Simt Multi Asset |
| Summit Global Investments |
Simt Multi-asset and Summit Global Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Simt Multi-asset and Summit Global
The main advantage of trading using opposite Simt Multi-asset and Summit Global positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Simt Multi-asset position performs unexpectedly, Summit Global 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 Summit Global will offset losses from the drop in Summit Global's long position.| Simt Multi-asset vs. Prudential Health Sciences | Simt Multi-asset vs. Lord Abbett Health | Simt Multi-asset vs. Invesco Global Health | Simt Multi-asset vs. Putnam Global Health |
| Summit Global vs. Guggenheim Managed Futures | Summit Global vs. Simt Multi Asset Inflation | Summit Global vs. Western Asset Inflation | Summit Global vs. Goldman Sachs Managed |
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 Global Markets Map module to get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes.
Other Complementary Tools
| Insider Screener Find insiders across different sectors to evaluate their impact on performance | |
| Balance Of Power Check stock momentum by analyzing Balance Of Power indicator and other technical ratios | |
| Portfolio File Import Quickly import all of your third-party portfolios from your local drive in csv format | |
| Economic Indicators Top statistical indicators that provide insights into how an economy is performing | |
| Portfolio Volatility Check portfolio volatility and analyze historical return density to properly model market risk |