Correlation Between Eagle Growth and Calvert Balanced
Can any of the company-specific risk be diversified away by investing in both Eagle Growth and Calvert Balanced 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 Calvert Balanced 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 Calvert Balanced Portfolio, you can compare the effects of market volatilities on Eagle Growth and Calvert Balanced 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 Calvert Balanced. Check out your portfolio center. Please also check ongoing floating volatility patterns of Eagle Growth and Calvert Balanced.
Diversification Opportunities for Eagle Growth and Calvert Balanced
0.98 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Eagle and Calvert is 0.98. Overlapping area represents the amount of risk that can be diversified away by holding Eagle Growth Income and Calvert Balanced Portfolio in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Calvert Balanced Por 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 Calvert Balanced. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Calvert Balanced Por has no effect on the direction of Eagle Growth i.e., Eagle Growth and Calvert Balanced go up and down completely randomly.
Pair Corralation between Eagle Growth and Calvert Balanced
Assuming the 90 days horizon Eagle Growth Income is expected to generate 1.4 times more return on investment than Calvert Balanced. However, Eagle Growth is 1.4 times more volatile than Calvert Balanced Portfolio. It trades about 0.25 of its potential returns per unit of risk. Calvert Balanced Portfolio is currently generating about 0.25 per unit of risk. If you would invest 1,897 in Eagle Growth Income on May 27, 2025 and sell it today you would earn a total of 170.00 from holding Eagle Growth Income or generate 8.96% 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. Calvert Balanced Portfolio
Performance |
| Timeline |
| Eagle Growth Income |
| Calvert Balanced Por |
Eagle Growth and Calvert Balanced Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Eagle Growth and Calvert Balanced
The main advantage of trading using opposite Eagle Growth and Calvert Balanced positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Eagle Growth position performs unexpectedly, Calvert Balanced 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 Balanced will offset losses from the drop in Calvert Balanced's long position.| Eagle Growth vs. Northern Small Cap | Eagle Growth vs. Applied Finance Explorer | Eagle Growth vs. Lord Abbett Small | Eagle Growth vs. Queens Road Small |
| Calvert Balanced vs. Aig Government Money | Calvert Balanced vs. Dunham Porategovernment Bond | Calvert Balanced vs. Virtus Seix Government | Calvert Balanced vs. Short Term Government Fund |
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 Diagnostics module to use generated alerts and portfolio events aggregator to diagnose current holdings.
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