Correlation Between PIMCO 1 and BSJL
Can any of the company-specific risk be diversified away by investing in both PIMCO 1 and BSJL 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 PIMCO 1 and BSJL into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between PIMCO 1 5 Year and BSJL, you can compare the effects of market volatilities on PIMCO 1 and BSJL 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 PIMCO 1 with a short position of BSJL. Check out your portfolio center. Please also check ongoing floating volatility patterns of PIMCO 1 and BSJL.
Diversification Opportunities for PIMCO 1 and BSJL
Pay attention - limited upside
The 3 months correlation between PIMCO and BSJL is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding PIMCO 1 5 Year and BSJL in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on BSJL and PIMCO 1 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 PIMCO 1 5 Year are associated (or correlated) with BSJL. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BSJL has no effect on the direction of PIMCO 1 i.e., PIMCO 1 and BSJL go up and down completely randomly.
Pair Corralation between PIMCO 1 and BSJL
If you would invest 4,904 in PIMCO 1 5 Year on January 25, 2024 and sell it today you would earn a total of 227.00 from holding PIMCO 1 5 Year or generate 4.63% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
PIMCO 1 5 Year vs. BSJL
Performance |
| Timeline |
| PIMCO 1 5 |
| BSJL |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
PIMCO 1 and BSJL Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with PIMCO 1 and BSJL
The main advantage of trading using opposite PIMCO 1 and BSJL positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if PIMCO 1 position performs unexpectedly, BSJL 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 BSJL will offset losses from the drop in BSJL's long position.| PIMCO 1 vs. HUMANA INC | PIMCO 1 vs. Aquagold International | PIMCO 1 vs. Barloworld Ltd ADR | PIMCO 1 vs. Morningstar Unconstrained Allocation |
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 Ceiling Movement module to calculate and plot Price Ceiling Movement for different equity instruments.
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