Correlation Between Eagle Growth and Astor Long/short
Can any of the company-specific risk be diversified away by investing in both Eagle Growth and Astor Long/short 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 Growth and Astor Long/short into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Eagle Growth Income and Astor Longshort Fund, you can compare the effects of market volatilities on Eagle Growth and Astor Long/short 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 Growth with a short position of Astor Long/short. Check out your portfolio center. Please also check ongoing floating volatility patterns of Eagle Growth and Astor Long/short.
Diversification Opportunities for Eagle Growth and Astor Long/short
0.98 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Eagle and Astor is 0.98. Overlapping area represents the amount of risk that can be diversified away by holding Eagle Growth Income and Astor Longshort Fund in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Astor Long/short and Eagle Growth 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 Growth Income are associated (or correlated) with Astor Long/short. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Astor Long/short has no effect on the direction of Eagle Growth i.e., Eagle Growth and Astor Long/short go up and down completely randomly.
Pair Corralation between Eagle Growth and Astor Long/short
Assuming the 90 days horizon Eagle Growth Income is expected to generate 1.59 times more return on investment than Astor Long/short. However, Eagle Growth is 1.59 times more volatile than Astor Longshort Fund. It trades about 0.07 of its potential returns per unit of risk. Astor Longshort Fund is currently generating about 0.08 per unit of risk. If you would invest 1,692 in Eagle Growth Income on July 16, 2025 and sell it today you would earn a total of 436.00 from holding Eagle Growth Income or generate 25.77% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Eagle Growth Income vs. Astor Longshort Fund
Performance |
| Timeline |
| Eagle Growth Income |
| Astor Long/short |
Eagle Growth and Astor Long/short Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Eagle Growth and Astor Long/short
The main advantage of trading using opposite Eagle Growth and Astor Long/short positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Eagle Growth position performs unexpectedly, Astor Long/short 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 Astor Long/short will offset losses from the drop in Astor Long/short's long position.| Eagle Growth vs. Transamerica Asset Allocation | Eagle Growth vs. Multimanager Lifestyle Moderate | Eagle Growth vs. Retirement Living Through | Eagle Growth vs. One Choice In |
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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 Portfolio Holdings module to check your current holdings and cash postion to detemine if your portfolio needs rebalancing.
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