Correlation Between Eagle Mlp and John Hancock
Can any of the company-specific risk be diversified away by investing in both Eagle Mlp and John Hancock 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 Mlp and John Hancock into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Eagle Mlp Strategy and John Hancock Disciplined, you can compare the effects of market volatilities on Eagle Mlp and John Hancock 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 Mlp with a short position of John Hancock. Check out your portfolio center. Please also check ongoing floating volatility patterns of Eagle Mlp and John Hancock.
Diversification Opportunities for Eagle Mlp and John Hancock
0.91 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Eagle and John is 0.91. Overlapping area represents the amount of risk that can be diversified away by holding Eagle Mlp Strategy and John Hancock Disciplined in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on John Hancock Disciplined and Eagle Mlp 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 Mlp Strategy are associated (or correlated) with John Hancock. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of John Hancock Disciplined has no effect on the direction of Eagle Mlp i.e., Eagle Mlp and John Hancock go up and down completely randomly.
Pair Corralation between Eagle Mlp and John Hancock
Assuming the 90 days horizon Eagle Mlp Strategy is expected to generate 0.95 times more return on investment than John Hancock. However, Eagle Mlp Strategy is 1.05 times less risky than John Hancock. It trades about 0.66 of its potential returns per unit of risk. John Hancock Disciplined is currently generating about 0.28 per unit of risk. If you would invest 987.00 in Eagle Mlp Strategy on September 3, 2024 and sell it today you would earn a total of 144.00 from holding Eagle Mlp Strategy or generate 14.59% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Eagle Mlp Strategy vs. John Hancock Disciplined
Performance |
| Timeline |
| Eagle Mlp Strategy |
| John Hancock Disciplined |
Eagle Mlp and John Hancock Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Eagle Mlp and John Hancock
The main advantage of trading using opposite Eagle Mlp and John Hancock positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Eagle Mlp position performs unexpectedly, John Hancock 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 John Hancock will offset losses from the drop in John Hancock's long position.| Eagle Mlp vs. Artisan High Income | Eagle Mlp vs. Gmo High Yield | Eagle Mlp vs. Ambrus Core Bond | Eagle Mlp vs. Rationalpier 88 Convertible |
| John Hancock vs. Ab Bond Inflation | John Hancock vs. Asg Managed Futures | John Hancock vs. Ab Bond Inflation | John Hancock vs. Guidepath Managed Futures |
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 FinTech Suite module to use AI to screen and filter profitable investment opportunities.
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