Correlation Between Advent Claymore and Tiaa Cref
Can any of the company-specific risk be diversified away by investing in both Advent Claymore and Tiaa Cref 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 Tiaa Cref 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 Tiaa Cref Emerging Markets, you can compare the effects of market volatilities on Advent Claymore and Tiaa Cref 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 Tiaa Cref. Check out your portfolio center. Please also check ongoing floating volatility patterns of Advent Claymore and Tiaa Cref.
Diversification Opportunities for Advent Claymore and Tiaa Cref
0.94 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Advent and Tiaa is 0.94. Overlapping area represents the amount of risk that can be diversified away by holding Advent Claymore Convertible and Tiaa Cref Emerging Markets in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Tiaa Cref Emerging 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 Tiaa Cref. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Tiaa Cref Emerging has no effect on the direction of Advent Claymore i.e., Advent Claymore and Tiaa Cref go up and down completely randomly.
Pair Corralation between Advent Claymore and Tiaa Cref
Assuming the 90 days horizon Advent Claymore Convertible is expected to generate 3.5 times more return on investment than Tiaa Cref. However, Advent Claymore is 3.5 times more volatile than Tiaa Cref Emerging Markets. It trades about 0.32 of its potential returns per unit of risk. Tiaa Cref Emerging Markets is currently generating about 0.42 per unit of risk. If you would invest 1,091 in Advent Claymore Convertible on April 18, 2025 and sell it today you would earn a total of 167.00 from holding Advent Claymore Convertible or generate 15.31% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Advent Claymore Convertible vs. Tiaa Cref Emerging Markets
Performance |
| Timeline |
| Advent Claymore Conv |
| Tiaa Cref Emerging |
Advent Claymore and Tiaa Cref Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Advent Claymore and Tiaa Cref
The main advantage of trading using opposite Advent Claymore and Tiaa Cref positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Advent Claymore position performs unexpectedly, Tiaa Cref 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 Tiaa Cref will offset losses from the drop in Tiaa Cref's long position.| Advent Claymore vs. Bbh Intermediate Municipal | Advent Claymore vs. Franklin Adjustable Government | Advent Claymore vs. Dunham Porategovernment Bond | Advent Claymore vs. Pace Municipal Fixed |
| Tiaa Cref vs. Wabmsx | Tiaa Cref vs. Wmcanx | Tiaa Cref vs. Volumetric Fund Volumetric | Tiaa Cref vs. Ab Select Equity |
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 Companies Directory module to evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals.
Other Complementary Tools
| Cryptocurrency Center Build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency | |
| Premium Stories Follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope | |
| Investing Opportunities Build portfolios using our predefined set of ideas and optimize them against your investing preferences | |
| Theme Ratings Determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
| Stock Tickers Use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites |