Correlation Between Fidus Investment and EATON
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By analyzing existing cross correlation between Fidus Investment Corp and EATON VANCE P, you can compare the effects of market volatilities on Fidus Investment and EATON 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 Fidus Investment with a short position of EATON. Check out your portfolio center. Please also check ongoing floating volatility patterns of Fidus Investment and EATON.
Diversification Opportunities for Fidus Investment and EATON
0.41 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Fidus and EATON is 0.41. Overlapping area represents the amount of risk that can be diversified away by holding Fidus Investment Corp and EATON VANCE P in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on EATON VANCE P and Fidus Investment 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 Fidus Investment Corp are associated (or correlated) with EATON. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of EATON VANCE P has no effect on the direction of Fidus Investment i.e., Fidus Investment and EATON go up and down completely randomly.
Pair Corralation between Fidus Investment and EATON
Given the investment horizon of 90 days Fidus Investment Corp is expected to generate 1.63 times more return on investment than EATON. However, Fidus Investment is 1.63 times more volatile than EATON VANCE P. It trades about 0.1 of its potential returns per unit of risk. EATON VANCE P is currently generating about 0.01 per unit of risk. If you would invest 1,536 in Fidus Investment Corp on November 30, 2024 and sell it today you would earn a total of 793.00 from holding Fidus Investment Corp or generate 51.63% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 74.09% |
| Values | Daily Returns |
Fidus Investment Corp vs. EATON VANCE P
Performance |
| Timeline |
| Fidus Investment Corp |
| EATON VANCE P |
Fidus Investment and EATON Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Fidus Investment and EATON
The main advantage of trading using opposite Fidus Investment and EATON positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Fidus Investment position performs unexpectedly, EATON 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 EATON will offset losses from the drop in EATON's long position.| Fidus Investment vs. Golub Capital BDC | Fidus Investment vs. BlackRock TCP Capital | Fidus Investment vs. Carlyle Secured Lending | Fidus Investment vs. Sixth Street Specialty |
| EATON vs. Schweiter Technologies AG | EATON vs. MYT Netherlands Parent | EATON vs. Jutal Offshore Oil | EATON vs. Alto Neuroscience, |
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 Fundamental Analysis module to view fundamental data based on most recent published financial statements.
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