Correlation Between Calvert Global and Segall Bryant
Can any of the company-specific risk be diversified away by investing in both Calvert Global and Segall Bryant 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 Calvert Global and Segall Bryant into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Calvert Global Energy and Segall Bryant Hamill, you can compare the effects of market volatilities on Calvert Global and Segall Bryant 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 Calvert Global with a short position of Segall Bryant. Check out your portfolio center. Please also check ongoing floating volatility patterns of Calvert Global and Segall Bryant.
Diversification Opportunities for Calvert Global and Segall Bryant
-0.34 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Calvert and Segall is -0.34. Overlapping area represents the amount of risk that can be diversified away by holding Calvert Global Energy and Segall Bryant Hamill in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Segall Bryant Hamill and Calvert Global 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 Calvert Global Energy are associated (or correlated) with Segall Bryant. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Segall Bryant Hamill has no effect on the direction of Calvert Global i.e., Calvert Global and Segall Bryant go up and down completely randomly.
Pair Corralation between Calvert Global and Segall Bryant
Assuming the 90 days horizon Calvert Global Energy is expected to under-perform the Segall Bryant. But the mutual fund apears to be less risky and, when comparing its historical volatility, Calvert Global Energy is 1.45 times less risky than Segall Bryant. The mutual fund trades about -0.06 of its potential returns per unit of risk. The Segall Bryant Hamill is currently generating about 0.29 of returns per unit of risk over similar time horizon. If you would invest 1,321 in Segall Bryant Hamill on September 4, 2024 and sell it today you would earn a total of 114.00 from holding Segall Bryant Hamill or generate 8.63% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 95.24% |
| Values | Daily Returns |
Calvert Global Energy vs. Segall Bryant Hamill
Performance |
| Timeline |
| Calvert Global Energy |
| Segall Bryant Hamill |
Calvert Global and Segall Bryant Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Calvert Global and Segall Bryant
The main advantage of trading using opposite Calvert Global and Segall Bryant positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Calvert Global position performs unexpectedly, Segall Bryant 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 Segall Bryant will offset losses from the drop in Segall Bryant's long position.| Calvert Global vs. Ashmore Emerging Markets | Calvert Global vs. Wells Fargo Funds | Calvert Global vs. Lord Abbett Emerging | Calvert Global vs. Elfun Government Money |
| Segall Bryant vs. T Rowe Price | Segall Bryant vs. Auer Growth Fund | Segall Bryant vs. Omni Small Cap Value | Segall Bryant vs. Growth Strategy Fund |
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 Share Portfolio module to track or share privately all of your investments from the convenience of any device.
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