Correlation Between Eagle Capital and Eaton Vance
Can any of the company-specific risk be diversified away by investing in both Eagle Capital and Eaton Vance 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 Capital and Eaton Vance into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Eagle Capital Growth and Eaton Vance New, you can compare the effects of market volatilities on Eagle Capital and Eaton Vance 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 Capital with a short position of Eaton Vance. Check out your portfolio center. Please also check ongoing floating volatility patterns of Eagle Capital and Eaton Vance.
Diversification Opportunities for Eagle Capital and Eaton Vance
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Eagle and Eaton is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Eagle Capital Growth and Eaton Vance New in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Eaton Vance New and Eagle Capital 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 Capital Growth are associated (or correlated) with Eaton Vance. 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 New has no effect on the direction of Eagle Capital i.e., Eagle Capital and Eaton Vance go up and down completely randomly.
Pair Corralation between Eagle Capital and Eaton Vance
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 |
Eagle Capital Growth vs. Eaton Vance New
Performance |
| Timeline |
| Eagle Capital Growth |
| Eaton Vance New |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Eagle Capital and Eaton Vance Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Eagle Capital and Eaton Vance
The main advantage of trading using opposite Eagle Capital and Eaton Vance positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Eagle Capital position performs unexpectedly, Eaton Vance 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 Vance will offset losses from the drop in Eaton Vance's long position.| 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 |
| Eaton Vance vs. Nuveen Municipalome | Eaton Vance vs. Platinum Asia Investments | Eaton Vance vs. Eaton Vance New | Eaton Vance vs. Nuveen New York |
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 Options Analysis module to analyze and evaluate options and option chains as a potential hedge for your portfolios.
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