Correlation Between Eagle Growth and Bbh Intermediate
Can any of the company-specific risk be diversified away by investing in both Eagle Growth and Bbh Intermediate 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 Growth and Bbh Intermediate into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Eagle Growth Income and Bbh Intermediate Municipal, you can compare the effects of market volatilities on Eagle Growth and Bbh Intermediate 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 Growth with a short position of Bbh Intermediate. Check out your portfolio center. Please also check ongoing floating volatility patterns of Eagle Growth and Bbh Intermediate.
Diversification Opportunities for Eagle Growth and Bbh Intermediate
-0.16 | Correlation Coefficient |
Good diversification
The 3 months correlation between Eagle and Bbh is -0.16. Overlapping area represents the amount of risk that can be diversified away by holding Eagle Growth Income and Bbh Intermediate Municipal in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Bbh Intermediate Mun and Eagle Growth 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 Growth Income are associated (or correlated) with Bbh Intermediate. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bbh Intermediate Mun has no effect on the direction of Eagle Growth i.e., Eagle Growth and Bbh Intermediate go up and down completely randomly.
Pair Corralation between Eagle Growth and Bbh Intermediate
Assuming the 90 days horizon Eagle Growth Income is expected to generate 3.98 times more return on investment than Bbh Intermediate. However, Eagle Growth is 3.98 times more volatile than Bbh Intermediate Municipal. It trades about 0.08 of its potential returns per unit of risk. Bbh Intermediate Municipal is currently generating about 0.09 per unit of risk. If you would invest 1,866 in Eagle Growth Income on August 24, 2024 and sell it today you would earn a total of 572.00 from holding Eagle Growth Income or generate 30.65% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Eagle Growth Income vs. Bbh Intermediate Municipal
Performance |
| Timeline |
| Eagle Growth Income |
| Bbh Intermediate Mun |
Eagle Growth and Bbh Intermediate Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Eagle Growth and Bbh Intermediate
The main advantage of trading using opposite Eagle Growth and Bbh Intermediate positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Eagle Growth position performs unexpectedly, Bbh Intermediate 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 Bbh Intermediate will offset losses from the drop in Bbh Intermediate's long position.| Eagle Growth vs. Bbh Intermediate Municipal | Eagle Growth vs. Dws Government Money | Eagle Growth vs. Counterpoint Tactical Municipal | Eagle Growth vs. The National Tax Free |
| Bbh Intermediate vs. Enhanced Large Pany | Bbh Intermediate vs. Nuveen Winslow Large Cap | Bbh Intermediate vs. T Rowe Price | Bbh Intermediate vs. Goldman Sachs Large |
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 Sync Your Broker module to sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors..
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