Correlation Between Lifex Inflation and Eaton Vance
Can any of the company-specific risk be diversified away by investing in both Lifex Inflation 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 Lifex Inflation and Eaton Vance into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Lifex Inflation Protected Income and Eaton Vance National, you can compare the effects of market volatilities on Lifex Inflation 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 Lifex Inflation with a short position of Eaton Vance. Check out your portfolio center. Please also check ongoing floating volatility patterns of Lifex Inflation and Eaton Vance.
Diversification Opportunities for Lifex Inflation and Eaton Vance
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Lifex and Eaton is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Lifex Inflation Protected Inco and Eaton Vance National in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Eaton Vance National and Lifex Inflation 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 Lifex Inflation Protected Income 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 National has no effect on the direction of Lifex Inflation i.e., Lifex Inflation and Eaton Vance go up and down completely randomly.
Pair Corralation between Lifex Inflation and Eaton Vance
If you would invest 1,589 in Eaton Vance National on November 28, 2024 and sell it today you would earn a total of 116.00 from holding Eaton Vance National or generate 7.3% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Lifex Inflation Protected Inco vs. Eaton Vance National
Performance |
| Timeline |
| Lifex Inflation Prot |
Risk-Adjusted Performance
Very Weak
Weak | Strong |
| Eaton Vance National |
Lifex Inflation and Eaton Vance Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Lifex Inflation and Eaton Vance
The main advantage of trading using opposite Lifex Inflation and Eaton Vance positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Lifex Inflation 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.| Lifex Inflation vs. Dreyfusstandish Global Fixed | Lifex Inflation vs. Morningstar Global Income | Lifex Inflation vs. Wisdomtree Siegel Global | Lifex Inflation vs. Alliancebernstein Global Highome |
| Eaton Vance vs. Blackrock Muniholdings Ny | Eaton Vance vs. Nuveen California Select | Eaton Vance vs. MFS Investment Grade | Eaton Vance vs. Federated Premier 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 Piotroski F Score module to get Piotroski F Score based on the binary analysis strategy of nine different fundamentals.
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