Correlation Between Astor Star and Tactical Multi-purpose
Can any of the company-specific risk be diversified away by investing in both Astor Star and Tactical Multi-purpose 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 Astor Star and Tactical Multi-purpose into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Astor Star Fund and Tactical Multi Purpose Fund, you can compare the effects of market volatilities on Astor Star and Tactical Multi-purpose 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 Astor Star with a short position of Tactical Multi-purpose. Check out your portfolio center. Please also check ongoing floating volatility patterns of Astor Star and Tactical Multi-purpose.
Diversification Opportunities for Astor Star and Tactical Multi-purpose
0.93 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Astor and TACTICAL is 0.93. Overlapping area represents the amount of risk that can be diversified away by holding Astor Star Fund and Tactical Multi Purpose Fund in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Tactical Multi Purpose and Astor Star 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 Astor Star Fund are associated (or correlated) with Tactical Multi-purpose. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Tactical Multi Purpose has no effect on the direction of Astor Star i.e., Astor Star and Tactical Multi-purpose go up and down completely randomly.
Pair Corralation between Astor Star and Tactical Multi-purpose
Assuming the 90 days horizon Astor Star Fund is expected to generate 10.04 times more return on investment than Tactical Multi-purpose. However, Astor Star is 10.04 times more volatile than Tactical Multi Purpose Fund. It trades about 0.21 of its potential returns per unit of risk. Tactical Multi Purpose Fund is currently generating about 0.46 per unit of risk. If you would invest 1,543 in Astor Star Fund on June 3, 2025 and sell it today you would earn a total of 78.00 from holding Astor Star Fund or generate 5.06% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Astor Star Fund vs. Tactical Multi Purpose Fund
Performance |
| Timeline |
| Astor Star Fund |
| Tactical Multi Purpose |
Astor Star and Tactical Multi-purpose Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Astor Star and Tactical Multi-purpose
The main advantage of trading using opposite Astor Star and Tactical Multi-purpose positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Astor Star position performs unexpectedly, Tactical Multi-purpose 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 Tactical Multi-purpose will offset losses from the drop in Tactical Multi-purpose's long position.| Astor Star vs. Astor Star Fund | Astor Star vs. Astor Star Fund | Astor Star vs. Astor Longshort Fund | Astor Star vs. Nasdaq 100 Fund Class |
| Tactical Multi-purpose vs. Fisher Fixed Income | Tactical Multi-purpose vs. Fisher Esg Fixed | Tactical Multi-purpose vs. Fisher Esg Stock |
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 Money Managers module to screen money managers from public funds and ETFs managed around the world.
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