Correlation Between The Hartford and Segall Bryant
Can any of the company-specific risk be diversified away by investing in both The Hartford and Segall Bryant 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 The Hartford and Segall Bryant into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between The Hartford Midcap and Segall Bryant Hamill, you can compare the effects of market volatilities on The Hartford and Segall Bryant 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 The Hartford with a short position of Segall Bryant. Check out your portfolio center. Please also check ongoing floating volatility patterns of The Hartford and Segall Bryant.
Diversification Opportunities for The Hartford and Segall Bryant
0.92 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between The and Segall is 0.92. Overlapping area represents the amount of risk that can be diversified away by holding The Hartford Midcap and Segall Bryant Hamill in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Segall Bryant Hamill and The Hartford 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 The Hartford Midcap are associated (or correlated) with Segall Bryant. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Segall Bryant Hamill has no effect on the direction of The Hartford i.e., The Hartford and Segall Bryant go up and down completely randomly.
Pair Corralation between The Hartford and Segall Bryant
Assuming the 90 days horizon The Hartford Midcap is expected to generate 0.69 times more return on investment than Segall Bryant. However, The Hartford Midcap is 1.45 times less risky than Segall Bryant. It trades about 0.45 of its potential returns per unit of risk. Segall Bryant Hamill is currently generating about 0.3 per unit of risk. If you would invest 2,801 in The Hartford Midcap on September 4, 2024 and sell it today you would earn a total of 271.00 from holding The Hartford Midcap or generate 9.68% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 95.24% |
| Values | Daily Returns |
The Hartford Midcap vs. Segall Bryant Hamill
Performance |
| Timeline |
| Hartford Midcap |
| Segall Bryant Hamill |
The Hartford and Segall Bryant Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with The Hartford and Segall Bryant
The main advantage of trading using opposite The Hartford and Segall Bryant positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if The Hartford position performs unexpectedly, Segall Bryant 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 Segall Bryant will offset losses from the drop in Segall Bryant's long position.| The Hartford vs. Europacific Growth Fund | The Hartford vs. Washington Mutual Investors | The Hartford vs. Wells Fargo Special | The Hartford vs. Mfs Emerging Markets |
| Segall Bryant vs. Segall Bryant Hamill | Segall Bryant vs. Segall Bryant Hamill | Segall Bryant vs. Segall Bryant Hamill | Segall Bryant vs. Segall Bryant Hamill |
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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