Correlation Between Stringer Growth and Sa Worldwide
Can any of the company-specific risk be diversified away by investing in both Stringer Growth and Sa Worldwide 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 Stringer Growth and Sa Worldwide into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Stringer Growth Fund and Sa Worldwide Moderate, you can compare the effects of market volatilities on Stringer Growth and Sa Worldwide 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 Stringer Growth with a short position of Sa Worldwide. Check out your portfolio center. Please also check ongoing floating volatility patterns of Stringer Growth and Sa Worldwide.
Diversification Opportunities for Stringer Growth and Sa Worldwide
0.88 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Stringer and SAWMX is 0.88. Overlapping area represents the amount of risk that can be diversified away by holding Stringer Growth Fund and Sa Worldwide Moderate in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Sa Worldwide Moderate and Stringer 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 Stringer Growth Fund are associated (or correlated) with Sa Worldwide. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Sa Worldwide Moderate has no effect on the direction of Stringer Growth i.e., Stringer Growth and Sa Worldwide go up and down completely randomly.
Pair Corralation between Stringer Growth and Sa Worldwide
Assuming the 90 days horizon Stringer Growth Fund is expected to under-perform the Sa Worldwide. In addition to that, Stringer Growth is 1.66 times more volatile than Sa Worldwide Moderate. It trades about -0.06 of its total potential returns per unit of risk. Sa Worldwide Moderate is currently generating about -0.03 per unit of volatility. If you would invest 1,291 in Sa Worldwide Moderate on August 22, 2025 and sell it today you would lose (8.00) from holding Sa Worldwide Moderate or give up 0.62% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 97.73% |
| Values | Daily Returns |
Stringer Growth Fund vs. Sa Worldwide Moderate
Performance |
| Timeline |
| Stringer Growth |
| Sa Worldwide Moderate |
Stringer Growth and Sa Worldwide Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Stringer Growth and Sa Worldwide
The main advantage of trading using opposite Stringer Growth and Sa Worldwide positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Stringer Growth position performs unexpectedly, Sa Worldwide 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 Sa Worldwide will offset losses from the drop in Sa Worldwide's long position.| Stringer Growth vs. T Rowe Price | Stringer Growth vs. Putnam Global Health | Stringer Growth vs. Lord Abbett Health | Stringer Growth vs. Hartford Healthcare Hls |
| Sa Worldwide vs. Rbc China Equity | Sa Worldwide vs. Ms Global Fixed | Sa Worldwide vs. Morningstar International Equity | Sa Worldwide vs. Enhanced Fixed Income |
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 Correlation Analysis module to reduce portfolio risk simply by holding instruments which are not perfectly correlated.
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