Correlation Between Elfun Diversified and Calvert Us
Can any of the company-specific risk be diversified away by investing in both Elfun Diversified and Calvert Us 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 Elfun Diversified and Calvert Us into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Elfun Diversified Fund and Calvert Large Cap, you can compare the effects of market volatilities on Elfun Diversified and Calvert Us 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 Elfun Diversified with a short position of Calvert Us. Check out your portfolio center. Please also check ongoing floating volatility patterns of Elfun Diversified and Calvert Us.
Diversification Opportunities for Elfun Diversified and Calvert Us
0.91 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Elfun and Calvert is 0.91. Overlapping area represents the amount of risk that can be diversified away by holding Elfun Diversified Fund and Calvert Large Cap in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Calvert Large Cap and Elfun Diversified 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 Elfun Diversified Fund are associated (or correlated) with Calvert Us. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Calvert Large Cap has no effect on the direction of Elfun Diversified i.e., Elfun Diversified and Calvert Us go up and down completely randomly.
Pair Corralation between Elfun Diversified and Calvert Us
Assuming the 90 days horizon Elfun Diversified Fund is expected to generate 0.48 times more return on investment than Calvert Us. However, Elfun Diversified Fund is 2.09 times less risky than Calvert Us. It trades about 0.16 of its potential returns per unit of risk. Calvert Large Cap is currently generating about 0.06 per unit of risk. If you would invest 2,195 in Elfun Diversified Fund on June 3, 2025 and sell it today you would earn a total of 53.00 from holding Elfun Diversified Fund or generate 2.41% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Elfun Diversified Fund vs. Calvert Large Cap
Performance |
| Timeline |
| Elfun Diversified |
| Calvert Large Cap |
Elfun Diversified and Calvert Us Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Elfun Diversified and Calvert Us
The main advantage of trading using opposite Elfun Diversified and Calvert Us positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Elfun Diversified position performs unexpectedly, Calvert Us 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 Us will offset losses from the drop in Calvert Us' long position.| Elfun Diversified vs. State Street Target | Elfun Diversified vs. State Street Target | Elfun Diversified vs. Ssga International Stock | Elfun Diversified vs. State Street Target |
| Calvert Us vs. Calvert Large Cap | Calvert Us vs. Prudential Qma Large Cap | Calvert Us vs. Virtus Nfj Large Cap | Calvert Us vs. Jhancock Disciplined Value |
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 Technical Analysis module to check basic technical indicators and analysis based on most latest market data.
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