Correlation Between Eagle Financial and Avidbank Holdings,
Can any of the company-specific risk be diversified away by investing in both Eagle Financial and Avidbank Holdings, 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 Eagle Financial and Avidbank Holdings, into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Eagle Financial Services and Avidbank Holdings, Common, you can compare the effects of market volatilities on Eagle Financial and Avidbank Holdings, 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 Financial with a short position of Avidbank Holdings,. Check out your portfolio center. Please also check ongoing floating volatility patterns of Eagle Financial and Avidbank Holdings,.
Diversification Opportunities for Eagle Financial and Avidbank Holdings,
0.54 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Eagle and Avidbank is 0.54. Overlapping area represents the amount of risk that can be diversified away by holding Eagle Financial Services and Avidbank Holdings, Common in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Avidbank Holdings, Common and Eagle Financial 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 Financial Services are associated (or correlated) with Avidbank Holdings,. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Avidbank Holdings, Common has no effect on the direction of Eagle Financial i.e., Eagle Financial and Avidbank Holdings, go up and down completely randomly.
Pair Corralation between Eagle Financial and Avidbank Holdings,
Given the investment horizon of 90 days Eagle Financial Services is expected to generate 1.52 times more return on investment than Avidbank Holdings,. However, Eagle Financial is 1.52 times more volatile than Avidbank Holdings, Common. It trades about 0.05 of its potential returns per unit of risk. Avidbank Holdings, Common is currently generating about 0.04 per unit of risk. If you would invest 3,656 in Eagle Financial Services on September 10, 2025 and sell it today you would earn a total of 155.00 from holding Eagle Financial Services or generate 4.24% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Eagle Financial Services vs. Avidbank Holdings, Common
Performance |
| Timeline |
| Eagle Financial Services |
| Avidbank Holdings, Common |
Eagle Financial and Avidbank Holdings, Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Eagle Financial and Avidbank Holdings,
The main advantage of trading using opposite Eagle Financial and Avidbank Holdings, positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Eagle Financial position performs unexpectedly, Avidbank Holdings, 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 Avidbank Holdings, will offset losses from the drop in Avidbank Holdings,'s long position.| Eagle Financial vs. National Bankshares | Eagle Financial vs. Chain Bridge Bancorp, | Eagle Financial vs. First Community | Eagle Financial vs. Franklin Financial Services |
| Avidbank Holdings, vs. First Savings Financial | Avidbank Holdings, vs. First Community | Avidbank Holdings, vs. Virginia National Bankshares | Avidbank Holdings, vs. Franklin Financial Services |
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 Portfolio Center module to all portfolio management and optimization tools to improve performance of your portfolios.
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