Correlation Between Eaton Vance and Asg Managed
Can any of the company-specific risk be diversified away by investing in both Eaton Vance and Asg Managed 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 Eaton Vance and Asg Managed into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Eaton Vance Global and Asg Managed Futures, you can compare the effects of market volatilities on Eaton Vance and Asg Managed 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 Eaton Vance with a short position of Asg Managed. Check out your portfolio center. Please also check ongoing floating volatility patterns of Eaton Vance and Asg Managed.
Diversification Opportunities for Eaton Vance and Asg Managed
0.35 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Eaton and Asg is 0.35. Overlapping area represents the amount of risk that can be diversified away by holding Eaton Vance Global and Asg Managed Futures in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Asg Managed Futures and Eaton Vance 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 Eaton Vance Global are associated (or correlated) with Asg Managed. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Asg Managed Futures has no effect on the direction of Eaton Vance i.e., Eaton Vance and Asg Managed go up and down completely randomly.
Pair Corralation between Eaton Vance and Asg Managed
Assuming the 90 days horizon Eaton Vance is expected to generate 1.71 times less return on investment than Asg Managed. But when comparing it to its historical volatility, Eaton Vance Global is 4.1 times less risky than Asg Managed. It trades about 0.4 of its potential returns per unit of risk. Asg Managed Futures is currently generating about 0.17 of returns per unit of risk over similar time horizon. If you would invest 776.00 in Asg Managed Futures on September 1, 2024 and sell it today you would earn a total of 15.00 from holding Asg Managed Futures or generate 1.93% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Eaton Vance Global vs. Asg Managed Futures
Performance |
| Timeline |
| Eaton Vance Global |
| Asg Managed Futures |
Eaton Vance and Asg Managed Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Eaton Vance and Asg Managed
The main advantage of trading using opposite Eaton Vance and Asg Managed positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Eaton Vance position performs unexpectedly, Asg Managed 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 Asg Managed will offset losses from the drop in Asg Managed's long position.| Eaton Vance vs. Eaton Vance Msschsts | Eaton Vance vs. Eaton Vance Municipal | Eaton Vance vs. Eaton Vance Municipal | Eaton Vance vs. Eaton Vance Municipal |
| Asg Managed vs. Asg Managed Futures | Asg Managed vs. Asg Managed Futures | Asg Managed vs. Natixis Oakmark | Asg Managed vs. Natixis Oakmark 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 ETF Categories module to list of ETF categories grouped based on various criteria, such as the investment strategy or type of investments.
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