Correlation Between BSAE and VanEck Emerging
Can any of the company-specific risk be diversified away by investing in both BSAE and VanEck Emerging 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 BSAE and VanEck Emerging into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between BSAE and VanEck Emerging Markets, you can compare the effects of market volatilities on BSAE and VanEck Emerging 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 BSAE with a short position of VanEck Emerging. Check out your portfolio center. Please also check ongoing floating volatility patterns of BSAE and VanEck Emerging.
Diversification Opportunities for BSAE and VanEck Emerging
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between BSAE and VanEck is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding BSAE and VanEck Emerging Markets in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on VanEck Emerging Markets and BSAE 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 BSAE are associated (or correlated) with VanEck Emerging. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of VanEck Emerging Markets has no effect on the direction of BSAE i.e., BSAE and VanEck Emerging go up and down completely randomly.
Pair Corralation between BSAE and VanEck Emerging
If you would invest (100.00) in BSAE on January 19, 2024 and sell it today you would earn a total of 100.00 from holding BSAE or generate -100.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
BSAE vs. VanEck Emerging Markets
Performance |
| Timeline |
| BSAE |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| VanEck Emerging Markets |
BSAE and VanEck Emerging Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with BSAE and VanEck Emerging
The main advantage of trading using opposite BSAE and VanEck Emerging positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if BSAE position performs unexpectedly, VanEck Emerging 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 VanEck Emerging will offset losses from the drop in VanEck Emerging's long position.| BSAE vs. SPDR SSGA Fixed | BSAE vs. SPDR Series Trust | BSAE vs. SSGA Active Trust | BSAE vs. SPDR DoubleLine Short |
| VanEck Emerging vs. SPDR SSGA Fixed | VanEck Emerging vs. SPDR Series Trust | VanEck Emerging vs. SSGA Active Trust | VanEck Emerging vs. SPDR DoubleLine Short |
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 Equity Search module to search for actively traded equities including funds and ETFs from over 30 global markets.
Other Complementary Tools
| Watchlist Optimization Optimize watchlists to build efficient portfolios or rebalance existing positions based on the mean-variance optimization algorithm | |
| Equity Forecasting Use basic forecasting models to generate price predictions and determine price momentum | |
| ETFs Find actively traded Exchange Traded Funds (ETF) from around the world | |
| Transaction History View history of all your transactions and understand their impact on performance | |
| Insider Screener Find insiders across different sectors to evaluate their impact on performance | |
| Efficient Frontier Plot and analyze your portfolio and positions against risk-return landscape of the market. | |
| Bollinger Bands Use Bollinger Bands indicator to analyze target price for a given investing horizon | |
| Performance Analysis Check effects of mean-variance optimization against your current asset allocation | |
| Portfolio Volatility Check portfolio volatility and analyze historical return density to properly model market risk | |
| Sectors List of equity sectors categorizing publicly traded companies based on their primary business activities | |
| Sync Your Broker Sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors. | |
| Equity Search Search for actively traded equities including funds and ETFs from over 30 global markets | |
| Piotroski F Score Get Piotroski F Score based on the binary analysis strategy of nine different fundamentals |