Correlation Between Eagle Growth and Mid Cap
Can any of the company-specific risk be diversified away by investing in both Eagle Growth and Mid Cap 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 Eagle Growth and Mid Cap into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Eagle Growth Income and Mid Cap Growth, you can compare the effects of market volatilities on Eagle Growth and Mid Cap 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 Eagle Growth with a short position of Mid Cap. Check out your portfolio center. Please also check ongoing floating volatility patterns of Eagle Growth and Mid Cap.
Diversification Opportunities for Eagle Growth and Mid Cap
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Eagle and Mid is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Eagle Growth Income and Mid Cap Growth in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Mid Cap Growth and Eagle Growth 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 Eagle Growth Income are associated (or correlated) with Mid Cap. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Mid Cap Growth has no effect on the direction of Eagle Growth i.e., Eagle Growth and Mid Cap go up and down completely randomly.
Pair Corralation between Eagle Growth and Mid Cap
If you would invest 2,748 in Mid Cap Growth on August 28, 2024 and sell it today you would earn a total of 1,393 from holding Mid Cap Growth or generate 50.69% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Eagle Growth Income vs. Mid Cap Growth
Performance |
| Timeline |
| Eagle Growth Income |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| Mid Cap Growth |
Eagle Growth and Mid Cap Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Eagle Growth and Mid Cap
The main advantage of trading using opposite Eagle Growth and Mid Cap positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Eagle Growth position performs unexpectedly, Mid Cap 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 Mid Cap will offset losses from the drop in Mid Cap's long position.| Eagle Growth vs. Ab Global Risk | Eagle Growth vs. Ms Global Fixed | Eagle Growth vs. Artisan Global Unconstrained | Eagle Growth vs. Ab Global Bond |
| Mid Cap vs. Touchstone Sustainability And | Mid Cap vs. Growth Opportunities Fund | Mid Cap vs. Total Return Fund | Mid Cap vs. William Blair International |
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 Headlines Timeline module to stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity.
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