Correlation Between Saba Capital and MASSACHUSETTS
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By analyzing existing cross correlation between Saba Capital Income and MASSACHUSETTS INST TECHNOLOGY, you can compare the effects of market volatilities on Saba Capital and MASSACHUSETTS 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 Saba Capital with a short position of MASSACHUSETTS. Check out your portfolio center. Please also check ongoing floating volatility patterns of Saba Capital and MASSACHUSETTS.
Diversification Opportunities for Saba Capital and MASSACHUSETTS
-0.52 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Saba and MASSACHUSETTS is -0.52. Overlapping area represents the amount of risk that can be diversified away by holding Saba Capital Income and MASSACHUSETTS INST TECHNOLOGY in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on MASSACHUSETTS INST and Saba Capital 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 Saba Capital Income are associated (or correlated) with MASSACHUSETTS. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of MASSACHUSETTS INST has no effect on the direction of Saba Capital i.e., Saba Capital and MASSACHUSETTS go up and down completely randomly.
Pair Corralation between Saba Capital and MASSACHUSETTS
Given the investment horizon of 90 days Saba Capital Income is expected to generate 0.51 times more return on investment than MASSACHUSETTS. However, Saba Capital Income is 1.97 times less risky than MASSACHUSETTS. It trades about 0.13 of its potential returns per unit of risk. MASSACHUSETTS INST TECHNOLOGY is currently generating about -0.04 per unit of risk. If you would invest 821.00 in Saba Capital Income on September 25, 2024 and sell it today you would earn a total of 54.00 from holding Saba Capital Income or generate 6.58% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Against |
Strength | Very Weak |
Accuracy | 90.63% |
Values | Daily Returns |
Saba Capital Income vs. MASSACHUSETTS INST TECHNOLOGY
Performance |
Timeline |
Saba Capital Income |
MASSACHUSETTS INST |
Saba Capital and MASSACHUSETTS Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Saba Capital and MASSACHUSETTS
The main advantage of trading using opposite Saba Capital and MASSACHUSETTS positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Saba Capital position performs unexpectedly, MASSACHUSETTS 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 MASSACHUSETTS will offset losses from the drop in MASSACHUSETTS's long position.Saba Capital vs. FT Vest Equity | Saba Capital vs. Zillow Group Class | Saba Capital vs. Northern Lights | Saba Capital vs. VanEck Vectors Moodys |
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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 Price Transformation module to use Price Transformation models to analyze the depth of different equity instruments across global markets.
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