Correlation Between Neuberger Berman and Axs Thomson
Can any of the company-specific risk be diversified away by investing in both Neuberger Berman and Axs Thomson 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 Neuberger Berman and Axs Thomson into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Neuberger Berman Intermediate and Axs Thomson Reuters, you can compare the effects of market volatilities on Neuberger Berman and Axs Thomson 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 Neuberger Berman with a short position of Axs Thomson. Check out your portfolio center. Please also check ongoing floating volatility patterns of Neuberger Berman and Axs Thomson.
Diversification Opportunities for Neuberger Berman and Axs Thomson
-0.4 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Neuberger and Axs is -0.4. Overlapping area represents the amount of risk that can be diversified away by holding Neuberger Berman Intermediate and Axs Thomson Reuters in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Axs Thomson Reuters and Neuberger Berman 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 Neuberger Berman Intermediate are associated (or correlated) with Axs Thomson. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Axs Thomson Reuters has no effect on the direction of Neuberger Berman i.e., Neuberger Berman and Axs Thomson go up and down completely randomly.
Pair Corralation between Neuberger Berman and Axs Thomson
Assuming the 90 days horizon Neuberger Berman Intermediate is expected to under-perform the Axs Thomson. But the mutual fund apears to be less risky and, when comparing its historical volatility, Neuberger Berman Intermediate is 4.94 times less risky than Axs Thomson. The mutual fund trades about -0.61 of its potential returns per unit of risk. The Axs Thomson Reuters is currently generating about 0.26 of returns per unit of risk over similar time horizon. If you would invest 2,795 in Axs Thomson Reuters on April 20, 2025 and sell it today you would earn a total of 211.00 from holding Axs Thomson Reuters or generate 7.55% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 95.24% |
| Values | Daily Returns |
Neuberger Berman Intermediate vs. Axs Thomson Reuters
Performance |
| Timeline |
| Neuberger Berman Int |
| Axs Thomson Reuters |
Neuberger Berman and Axs Thomson Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Neuberger Berman and Axs Thomson
The main advantage of trading using opposite Neuberger Berman and Axs Thomson positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Neuberger Berman position performs unexpectedly, Axs Thomson 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 Axs Thomson will offset losses from the drop in Axs Thomson's long position.| Neuberger Berman vs. Qs Small Capitalization | Neuberger Berman vs. Transamerica International Small | Neuberger Berman vs. Lebenthal Lisanti Small | Neuberger Berman vs. Needham Small Cap |
| Axs Thomson vs. Leland Thomson Reuters | Axs Thomson vs. Leland Thomson Reuters | Axs Thomson vs. New Economy Fund | Axs Thomson vs. Metwest Esg Securitized |
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 Portfolio Rebalancing module to analyze risk-adjusted returns against different time horizons to find asset-allocation targets.
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