Correlation Between Virtus Investment and NYSE Composite
Can any of the company-specific risk be diversified away by investing in both Virtus Investment and NYSE Composite 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 Virtus Investment and NYSE Composite into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Virtus Investment Partners and NYSE Composite, you can compare the effects of market volatilities on Virtus Investment and NYSE Composite 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 Virtus Investment with a short position of NYSE Composite. Check out your portfolio center. Please also check ongoing floating volatility patterns of Virtus Investment and NYSE Composite.
Diversification Opportunities for Virtus Investment and NYSE Composite
0.03 | Correlation Coefficient |
Significant diversification
The 3 months correlation between Virtus and NYSE is 0.03. Overlapping area represents the amount of risk that can be diversified away by holding Virtus Investment Partners and NYSE Composite in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on NYSE Composite and Virtus Investment 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 Virtus Investment Partners are associated (or correlated) with NYSE Composite. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of NYSE Composite has no effect on the direction of Virtus Investment i.e., Virtus Investment and NYSE Composite go up and down completely randomly.
Pair Corralation between Virtus Investment and NYSE Composite
Given the investment horizon of 90 days Virtus Investment is expected to generate 1.32 times less return on investment than NYSE Composite. In addition to that, Virtus Investment is 2.05 times more volatile than NYSE Composite. It trades about 0.09 of its total potential returns per unit of risk. NYSE Composite is currently generating about 0.24 per unit of volatility. If you would invest 2,165,478 in NYSE Composite on October 10, 2025 and sell it today you would earn a total of 68,645 from holding NYSE Composite or generate 3.17% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Virtus Investment Partners vs. NYSE Composite
Performance |
| Timeline |
Virtus Investment and NYSE Composite Volatility Contrast
Predicted Return Density |
| Returns |
Virtus Investment Partners
Pair trading matchups for Virtus Investment
NYSE Composite
Pair trading matchups for NYSE Composite
Pair Trading with Virtus Investment and NYSE Composite
The main advantage of trading using opposite Virtus Investment and NYSE Composite positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Virtus Investment position performs unexpectedly, NYSE Composite 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 NYSE Composite will offset losses from the drop in NYSE Composite's long position.| Virtus Investment vs. Trinity Capital | Virtus Investment vs. Goldman Sachs BDC | Virtus Investment vs. Capital Southwest | Virtus Investment vs. Kayne Anderson BDC |
| NYSE Composite vs. Intelligent Protection Management | NYSE Composite vs. Agriculture Natural Solutions | NYSE Composite vs. Bird Construction | NYSE Composite vs. Corporate Travel Management |
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 Funds Screener module to find actively-traded funds from around the world traded on over 30 global exchanges.
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