Eagle Point Correlations

ECCW Stock  USD 24.12  0.09  0.37%   
The current 90-days correlation between Eagle Point Credit and Oxford Lane Capital is 0.01 (i.e., Significant diversification). The correlation of Eagle Point is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Eagle Point Correlation With Market

Good diversification

The correlation between Eagle Point Credit and DJI is -0.07 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Eagle Point Credit and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Eagle Point Credit. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

Moving together with Eagle Stock

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  0.77JNJ Johnson JohnsonPairCorr

Moving against Eagle Stock

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  0.5NVDA NVIDIAPairCorr
  0.49AMZN Amazon IncPairCorr
  0.48AAPL Apple IncPairCorr
  0.4DIS Walt DisneyPairCorr
  0.34MSFT MicrosoftPairCorr
  0.36HPQ HP IncPairCorr
  0.34PFE Pfizer Inc Sell-off TrendPairCorr
  0.33BA BoeingPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Eagle Stock performing well and Eagle Point Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Eagle Point's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.