Correlation Between Eaton Vance and Pnc Emerging
Can any of the company-specific risk be diversified away by investing in both Eaton Vance and Pnc Emerging 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 Pnc Emerging into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Eaton Vance Greater and Pnc Emerging Markets, you can compare the effects of market volatilities on Eaton Vance and Pnc Emerging 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 Pnc Emerging. Check out your portfolio center. Please also check ongoing floating volatility patterns of Eaton Vance and Pnc Emerging.
Diversification Opportunities for Eaton Vance and Pnc Emerging
0.72 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Eaton and Pnc is 0.72. Overlapping area represents the amount of risk that can be diversified away by holding Eaton Vance Greater and Pnc Emerging Markets in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Pnc Emerging Markets 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 Greater are associated (or correlated) with Pnc Emerging. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Pnc Emerging Markets has no effect on the direction of Eaton Vance i.e., Eaton Vance and Pnc Emerging go up and down completely randomly.
Pair Corralation between Eaton Vance and Pnc Emerging
Assuming the 90 days horizon Eaton Vance Greater is expected to generate 1.08 times more return on investment than Pnc Emerging. However, Eaton Vance is 1.08 times more volatile than Pnc Emerging Markets. It trades about -0.03 of its potential returns per unit of risk. Pnc Emerging Markets is currently generating about -0.19 per unit of risk. If you would invest 1,886 in Eaton Vance Greater on September 4, 2025 and sell it today you would lose (16.00) from holding Eaton Vance Greater or give up 0.85% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Eaton Vance Greater vs. Pnc Emerging Markets
Performance |
| Timeline |
| Eaton Vance Greater |
| Pnc Emerging Markets |
Eaton Vance and Pnc Emerging Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Eaton Vance and Pnc Emerging
The main advantage of trading using opposite Eaton Vance and Pnc Emerging positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Eaton Vance position performs unexpectedly, Pnc Emerging 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 Pnc Emerging will offset losses from the drop in Pnc Emerging's long position.| Eaton Vance vs. Franklin California High | Eaton Vance vs. Transamerica High Yield | Eaton Vance vs. Vanguard High Yield Tax Exempt | Eaton Vance vs. Intal High Relative |
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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 Aroon Oscillator module to analyze current equity momentum using Aroon Oscillator and other momentum ratios.
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