Correlation Between Eagle Mid and Carillon Chartwell
Can any of the company-specific risk be diversified away by investing in both Eagle Mid and Carillon Chartwell 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 Mid and Carillon Chartwell into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Eagle Mid Cap and Carillon Chartwell Mid, you can compare the effects of market volatilities on Eagle Mid and Carillon Chartwell 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 Mid with a short position of Carillon Chartwell. Check out your portfolio center. Please also check ongoing floating volatility patterns of Eagle Mid and Carillon Chartwell.
Diversification Opportunities for Eagle Mid and Carillon Chartwell
0.47 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Eagle and Carillon is 0.47. Overlapping area represents the amount of risk that can be diversified away by holding Eagle Mid Cap and Carillon Chartwell Mid in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Carillon Chartwell Mid and Eagle Mid 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 Mid Cap are associated (or correlated) with Carillon Chartwell. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Carillon Chartwell Mid has no effect on the direction of Eagle Mid i.e., Eagle Mid and Carillon Chartwell go up and down completely randomly.
Pair Corralation between Eagle Mid and Carillon Chartwell
Assuming the 90 days horizon Eagle Mid is expected to generate 1.26 times less return on investment than Carillon Chartwell. But when comparing it to its historical volatility, Eagle Mid Cap is 1.04 times less risky than Carillon Chartwell. It trades about 0.01 of its potential returns per unit of risk. Carillon Chartwell Mid is currently generating about 0.01 of returns per unit of risk over similar time horizon. If you would invest 1,778 in Carillon Chartwell Mid on August 14, 2025 and sell it today you would earn a total of 10.00 from holding Carillon Chartwell Mid or generate 0.56% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Eagle Mid Cap vs. Carillon Chartwell Mid
Performance |
| Timeline |
| Eagle Mid Cap |
| Carillon Chartwell Mid |
Eagle Mid and Carillon Chartwell Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Eagle Mid and Carillon Chartwell
The main advantage of trading using opposite Eagle Mid and Carillon Chartwell positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Eagle Mid position performs unexpectedly, Carillon Chartwell 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 Carillon Chartwell will offset losses from the drop in Carillon Chartwell's long position.| Eagle Mid vs. Blackrock Financial Institutions | Eagle Mid vs. Fidelity Advisor Financial | Eagle Mid vs. 1919 Financial Services | Eagle Mid vs. Fidelity Advisor Financial |
| Carillon Chartwell vs. Chartwell Short Duration | Carillon Chartwell vs. Carillon Chartwell Short | Carillon Chartwell vs. Chartwell Short Duration | Carillon Chartwell vs. Carillon Chartwell Short |
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 ETF Categories module to list of ETF categories grouped based on various criteria, such as the investment strategy or type of investments.
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