Correlation Between Amg Yacktman and Fidelity Asset
Can any of the company-specific risk be diversified away by investing in both Amg Yacktman and Fidelity Asset 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 Amg Yacktman and Fidelity Asset into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Amg Yacktman Fund and Fidelity Asset Manager, you can compare the effects of market volatilities on Amg Yacktman and Fidelity Asset 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 Amg Yacktman with a short position of Fidelity Asset. Check out your portfolio center. Please also check ongoing floating volatility patterns of Amg Yacktman and Fidelity Asset.
Diversification Opportunities for Amg Yacktman and Fidelity Asset
0.88 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Amg and Fidelity is 0.88. Overlapping area represents the amount of risk that can be diversified away by holding Amg Yacktman Fund and Fidelity Asset Manager in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Fidelity Asset Manager and Amg Yacktman 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 Amg Yacktman Fund are associated (or correlated) with Fidelity Asset. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Fidelity Asset Manager has no effect on the direction of Amg Yacktman i.e., Amg Yacktman and Fidelity Asset go up and down completely randomly.
Pair Corralation between Amg Yacktman and Fidelity Asset
Assuming the 90 days horizon Amg Yacktman is expected to generate 1.95 times less return on investment than Fidelity Asset. But when comparing it to its historical volatility, Amg Yacktman Fund is 1.14 times less risky than Fidelity Asset. It trades about 0.05 of its potential returns per unit of risk. Fidelity Asset Manager is currently generating about 0.08 of returns per unit of risk over similar time horizon. If you would invest 3,038 in Fidelity Asset Manager on August 27, 2025 and sell it today you would earn a total of 88.00 from holding Fidelity Asset Manager or generate 2.9% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Amg Yacktman Fund vs. Fidelity Asset Manager
Performance |
| Timeline |
| Amg Yacktman |
| Fidelity Asset Manager |
Amg Yacktman and Fidelity Asset Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Amg Yacktman and Fidelity Asset
The main advantage of trading using opposite Amg Yacktman and Fidelity Asset positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Amg Yacktman position performs unexpectedly, Fidelity Asset 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 Fidelity Asset will offset losses from the drop in Fidelity Asset's long position.| Amg Yacktman vs. Fidelity Large Cap | Amg Yacktman vs. Qs Large Cap | Amg Yacktman vs. Knights Of Umbus | Amg Yacktman vs. Sterling Capital Behavioral |
| Fidelity Asset vs. Templeton Growth Fund | Fidelity Asset vs. Auer Growth Fund | Fidelity Asset vs. Pace Large Growth | Fidelity Asset vs. Tfa Alphagen Growth |
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 Comparator module to compare the composition, asset allocations and performance of any two portfolios in your account.
Other Complementary Tools
| Analyst Advice Analyst recommendations and target price estimates broken down by several categories | |
| Technical Analysis Check basic technical indicators and analysis based on most latest market data | |
| Global Correlations Find global opportunities by holding instruments from different markets | |
| Portfolio Holdings Check your current holdings and cash postion to detemine if your portfolio needs rebalancing | |
| Instant Ratings Determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance |