Correlation Between Eaton Vance and Calvert International
Can any of the company-specific risk be diversified away by investing in both Eaton Vance and Calvert International 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 Eaton Vance and Calvert International into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Eaton Vance Worldwide and Calvert International Opportunities, you can compare the effects of market volatilities on Eaton Vance and Calvert International 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 Eaton Vance with a short position of Calvert International. Check out your portfolio center. Please also check ongoing floating volatility patterns of Eaton Vance and Calvert International.
Diversification Opportunities for Eaton Vance and Calvert International
0.39 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Eaton and Calvert is 0.39. Overlapping area represents the amount of risk that can be diversified away by holding Eaton Vance Worldwide and Calvert International Opportun in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Calvert International and Eaton Vance 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 Eaton Vance Worldwide are associated (or correlated) with Calvert International. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Calvert International has no effect on the direction of Eaton Vance i.e., Eaton Vance and Calvert International go up and down completely randomly.
Pair Corralation between Eaton Vance and Calvert International
Assuming the 90 days horizon Eaton Vance is expected to generate 1.34 times less return on investment than Calvert International. In addition to that, Eaton Vance is 1.47 times more volatile than Calvert International Opportunities. It trades about 0.04 of its total potential returns per unit of risk. Calvert International Opportunities is currently generating about 0.09 per unit of volatility. If you would invest 1,870 in Calvert International Opportunities on May 27, 2025 and sell it today you would earn a total of 67.00 from holding Calvert International Opportunities or generate 3.58% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Eaton Vance Worldwide vs. Calvert International Opportun
Performance |
| Timeline |
| Eaton Vance Worldwide |
| Calvert International |
Eaton Vance and Calvert International Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Eaton Vance and Calvert International
The main advantage of trading using opposite Eaton Vance and Calvert International positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Eaton Vance position performs unexpectedly, Calvert International 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 Calvert International will offset losses from the drop in Calvert International's long position.| Eaton Vance vs. Perkins Small Cap | Eaton Vance vs. Boston Partners Small | Eaton Vance vs. Lord Abbett Small | Eaton Vance vs. Foundry Partners Fundamental |
| Calvert International vs. Angel Oak Financial | Calvert International vs. Rmb Mendon Financial | Calvert International vs. Mesirow Financial Small | Calvert International vs. Fidelity Advisor Financial |
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 Theme Ratings module to determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance.
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