Correlation Between Eaton Vance and Eagle Capital
Can any of the company-specific risk be diversified away by investing in both Eaton Vance and Eagle Capital 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 Eagle Capital into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Eaton Vance New and Eagle Capital Growth, you can compare the effects of market volatilities on Eaton Vance and Eagle Capital 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 Eagle Capital. Check out your portfolio center. Please also check ongoing floating volatility patterns of Eaton Vance and Eagle Capital.
Diversification Opportunities for Eaton Vance and Eagle Capital
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Eaton and Eagle is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Eaton Vance New and Eagle Capital Growth in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Eagle Capital Growth 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 New are associated (or correlated) with Eagle Capital. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Eagle Capital Growth has no effect on the direction of Eaton Vance i.e., Eaton Vance and Eagle Capital go up and down completely randomly.
Pair Corralation between Eaton Vance and Eagle Capital
If you would invest 982.00 in Eagle Capital Growth on August 28, 2024 and sell it today you would earn a total of 54.00 from holding Eagle Capital Growth or generate 5.5% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Eaton Vance New vs. Eagle Capital Growth
Performance |
| Timeline |
| Eaton Vance New |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| Eagle Capital Growth |
Eaton Vance and Eagle Capital Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Eaton Vance and Eagle Capital
The main advantage of trading using opposite Eaton Vance and Eagle Capital positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Eaton Vance position performs unexpectedly, Eagle Capital 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 Eagle Capital will offset losses from the drop in Eagle Capital's long position.| Eaton Vance vs. Nuveen Municipalome | Eaton Vance vs. Platinum Asia Investments | Eaton Vance vs. Eaton Vance New | Eaton Vance vs. Nuveen New York |
| Eagle Capital vs. Eaton Vance New | Eagle Capital vs. Pimco New York | Eagle Capital vs. Nuveen Amt Free Municipal | Eagle Capital vs. Western Asset Municipal |
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 Pattern Recognition module to use different Pattern Recognition models to time the market across multiple global exchanges.
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