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Is there an Investment Trust correlation tool?
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- Lemon Slice
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Is there an Investment Trust correlation tool?
Are there any tools available to check correlation between two or more trusts? I know that one can check the holdings of trusts and make a judgment on that basis but if there were a tool available it would be a great help.
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- Lemon Quarter
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Re: Is there an Investment Trust correlation tool?
Yes. Morningstar have an X Ray tool, it has been referred to here and I've used it in the past, but I don't currently have a bookmark to it.
Having just looked, there seems to be an easily accessible version on their website, but that requires a subscription.
There should also be a free option, but I can't see it at the moment.
Staffordian
Having just looked, there seems to be an easily accessible version on their website, but that requires a subscription.
There should also be a free option, but I can't see it at the moment.
Staffordian
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- Lemon Slice
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Re: Is there an Investment Trust correlation tool?
Thanks for the responses and the Morninstar tool is good for portfolio construction and performance back testing but I am looking for something that shows the degree of correlation between funds. For example, if trust A is rising, what trust will, through market forces decline or rise less slowly.
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- Lemon Slice
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Re: Is there an Investment Trust correlation tool?
Trustnet does. It gives a figure of between 1 and 0.
You have to add them to your basket then 'examine using trustnet tools' then 'comparison report'
You have to add them to your basket then 'examine using trustnet tools' then 'comparison report'
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- Lemon Slice
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Re: Is there an Investment Trust correlation tool?
@doug2500 thank you, I'd never seen that feature of Trustnet before.
So in simple terms if I were trying to diversify it would be a good idea to try and balance correlating and non-correlating assets so that, in principle, a two trusts/funds with a score as close to 0 (or even a negative value) as possible when compared to one another should provide balance?
So in simple terms if I were trying to diversify it would be a good idea to try and balance correlating and non-correlating assets so that, in principle, a two trusts/funds with a score as close to 0 (or even a negative value) as possible when compared to one another should provide balance?
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- Lemon Slice
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Re: Is there an Investment Trust correlation tool?
doug2500 wrote:Trustnet does. It gives a figure of between 1 and 0.
You have to add them to your basket then 'examine using trustnet tools' then 'comparison report'
That's excellent, many thanks for that. What a pity that only four selections can be made.
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