Correlation Between Eaton Vance and Natixis Oakmark
Can any of the company-specific risk be diversified away by investing in both Eaton Vance and Natixis Oakmark 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 Natixis Oakmark 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 Natixis Oakmark Intl, you can compare the effects of market volatilities on Eaton Vance and Natixis Oakmark 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 Natixis Oakmark. Check out your portfolio center. Please also check ongoing floating volatility patterns of Eaton Vance and Natixis Oakmark.
Diversification Opportunities for Eaton Vance and Natixis Oakmark
0.16 | Correlation Coefficient |
Average diversification
The 3 months correlation between Eaton and Natixis is 0.16. Overlapping area represents the amount of risk that can be diversified away by holding Eaton Vance Worldwide and Natixis Oakmark Intl in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Natixis Oakmark Intl 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 Natixis Oakmark. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Natixis Oakmark Intl has no effect on the direction of Eaton Vance i.e., Eaton Vance and Natixis Oakmark go up and down completely randomly.
Pair Corralation between Eaton Vance and Natixis Oakmark
Assuming the 90 days horizon Eaton Vance Worldwide is expected to under-perform the Natixis Oakmark. In addition to that, Eaton Vance is 1.26 times more volatile than Natixis Oakmark Intl. It trades about -0.02 of its total potential returns per unit of risk. Natixis Oakmark Intl is currently generating about 0.2 per unit of volatility. If you would invest 1,498 in Natixis Oakmark Intl on April 30, 2025 and sell it today you would earn a total of 172.00 from holding Natixis Oakmark Intl or generate 11.48% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Eaton Vance Worldwide vs. Natixis Oakmark Intl
Performance |
| Timeline |
| Eaton Vance Worldwide |
| Natixis Oakmark Intl |
Eaton Vance and Natixis Oakmark Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Eaton Vance and Natixis Oakmark
The main advantage of trading using opposite Eaton Vance and Natixis Oakmark positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Eaton Vance position performs unexpectedly, Natixis Oakmark 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 Natixis Oakmark will offset losses from the drop in Natixis Oakmark's long position.| Eaton Vance vs. 1919 Financial Services | Eaton Vance vs. Icon Financial Fund | Eaton Vance vs. Davis Financial Fund | Eaton Vance vs. Financials Ultrasector Profund |
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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 Stock Screener module to find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook..
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