Correlation Between Advent Claymore and Segall Bryant
Can any of the company-specific risk be diversified away by investing in both Advent Claymore and Segall Bryant 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 Advent Claymore and Segall Bryant into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Advent Claymore Convertible and Segall Bryant Hamill, you can compare the effects of market volatilities on Advent Claymore and Segall Bryant 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 Advent Claymore with a short position of Segall Bryant. Check out your portfolio center. Please also check ongoing floating volatility patterns of Advent Claymore and Segall Bryant.
Diversification Opportunities for Advent Claymore and Segall Bryant
0.82 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Advent and Segall is 0.82. Overlapping area represents the amount of risk that can be diversified away by holding Advent Claymore Convertible and Segall Bryant Hamill in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Segall Bryant Hamill and Advent Claymore 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 Advent Claymore Convertible are associated (or correlated) with Segall Bryant. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Segall Bryant Hamill has no effect on the direction of Advent Claymore i.e., Advent Claymore and Segall Bryant go up and down completely randomly.
Pair Corralation between Advent Claymore and Segall Bryant
Assuming the 90 days horizon Advent Claymore is expected to generate 2.02 times less return on investment than Segall Bryant. But when comparing it to its historical volatility, Advent Claymore Convertible is 1.17 times less risky than Segall Bryant. It trades about 0.16 of its potential returns per unit of risk. Segall Bryant Hamill is currently generating about 0.27 of returns per unit of risk over similar time horizon. If you would invest 1,270 in Segall Bryant Hamill on May 28, 2025 and sell it today you would earn a total of 161.00 from holding Segall Bryant Hamill or generate 12.68% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 98.41% |
| Values | Daily Returns |
Advent Claymore Convertible vs. Segall Bryant Hamill
Performance |
| Timeline |
| Advent Claymore Conv |
| Segall Bryant Hamill |
Advent Claymore and Segall Bryant Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Advent Claymore and Segall Bryant
The main advantage of trading using opposite Advent Claymore and Segall Bryant positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Advent Claymore position performs unexpectedly, Segall Bryant 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 Segall Bryant will offset losses from the drop in Segall Bryant's long position.| Advent Claymore vs. Ashmore Emerging Markets | Advent Claymore vs. Ab All Market | Advent Claymore vs. Delaware Limited Term Diversified | Advent Claymore vs. Lord Abbett Diversified |
| Segall Bryant vs. Neiman Large Cap | Segall Bryant vs. Dreyfus Large Cap | Segall Bryant vs. Transamerica Large Cap | Segall Bryant vs. Fidelity Large Cap |
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 Crypto Correlations module to use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins.
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