Correlation Between Eagle Mid and 532457CG1
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By analyzing existing cross correlation between Eagle Mid Cap and LLY 4875 27 FEB 53, you can compare the effects of market volatilities on Eagle Mid and 532457CG1 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 Mid with a short position of 532457CG1. Check out your portfolio center. Please also check ongoing floating volatility patterns of Eagle Mid and 532457CG1.
Diversification Opportunities for Eagle Mid and 532457CG1
Excellent diversification
The 3 months correlation between Eagle and 532457CG1 is -0.68. Overlapping area represents the amount of risk that can be diversified away by holding Eagle Mid Cap and LLY 4875 27 FEB 53 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on LLY 4875 27 and Eagle Mid 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 Mid Cap are associated (or correlated) with 532457CG1. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of LLY 4875 27 has no effect on the direction of Eagle Mid i.e., Eagle Mid and 532457CG1 go up and down completely randomly.
Pair Corralation between Eagle Mid and 532457CG1
Assuming the 90 days horizon Eagle Mid Cap is expected to generate 1.0 times more return on investment than 532457CG1. However, Eagle Mid Cap is 1.0 times less risky than 532457CG1. It trades about 0.07 of its potential returns per unit of risk. LLY 4875 27 FEB 53 is currently generating about 0.04 per unit of risk. If you would invest 6,559 in Eagle Mid Cap on September 24, 2024 and sell it today you would earn a total of 1,563 from holding Eagle Mid Cap or generate 23.83% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Against |
Strength | Weak |
Accuracy | 98.97% |
Values | Daily Returns |
Eagle Mid Cap vs. LLY 4875 27 FEB 53
Performance |
Timeline |
Eagle Mid Cap |
LLY 4875 27 |
Eagle Mid and 532457CG1 Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Eagle Mid and 532457CG1
The main advantage of trading using opposite Eagle Mid and 532457CG1 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Eagle Mid position performs unexpectedly, 532457CG1 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 532457CG1 will offset losses from the drop in 532457CG1's long position.Eagle Mid vs. Eagle Small Cap | Eagle Mid vs. Eagle Growth Income | Eagle Mid vs. Eagle Capital Appreciation | Eagle Mid vs. Victory Sycamore Established |
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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 CEOs Directory module to screen CEOs from public companies around the world.
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