Correlation Between Eagle Growth and Doubleline Emerging
Can any of the company-specific risk be diversified away by investing in both Eagle Growth and Doubleline 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 Eagle Growth and Doubleline Emerging 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 Doubleline Emerging Markets, you can compare the effects of market volatilities on Eagle Growth and Doubleline 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 Eagle Growth with a short position of Doubleline Emerging. Check out your portfolio center. Please also check ongoing floating volatility patterns of Eagle Growth and Doubleline Emerging.
Diversification Opportunities for Eagle Growth and Doubleline Emerging
0.57 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Eagle and Doubleline is 0.57. Overlapping area represents the amount of risk that can be diversified away by holding Eagle Growth Income and Doubleline Emerging Markets in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Doubleline Emerging 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 Doubleline Emerging. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Doubleline Emerging has no effect on the direction of Eagle Growth i.e., Eagle Growth and Doubleline Emerging go up and down completely randomly.
Pair Corralation between Eagle Growth and Doubleline Emerging
Assuming the 90 days horizon Eagle Growth Income is expected to generate 2.02 times more return on investment than Doubleline Emerging. However, Eagle Growth is 2.02 times more volatile than Doubleline Emerging Markets. It trades about 0.07 of its potential returns per unit of risk. Doubleline Emerging Markets is currently generating about 0.07 per unit of risk. If you would invest 1,569 in Eagle Growth Income on June 5, 2025 and sell it today you would earn a total of 488.00 from holding Eagle Growth Income or generate 31.1% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 99.8% |
| Values | Daily Returns |
Eagle Growth Income vs. Doubleline Emerging Markets
Performance |
| Timeline |
| Eagle Growth Income |
| Doubleline Emerging |
Eagle Growth and Doubleline Emerging Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Eagle Growth and Doubleline Emerging
The main advantage of trading using opposite Eagle Growth and Doubleline Emerging positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Eagle Growth position performs unexpectedly, Doubleline 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 Doubleline Emerging will offset losses from the drop in Doubleline Emerging's long position.| Eagle Growth vs. Calvert High Yield | Eagle Growth vs. Siit High Yield | Eagle Growth vs. Prudential High Yield | Eagle Growth vs. Payden High Income |
| Doubleline Emerging vs. Touchstone Funds Group | Doubleline Emerging vs. Ambrus Core Bond | Doubleline Emerging vs. Ab Bond Inflation | Doubleline Emerging vs. Doubleline Total Return |
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 Bonds Directory module to find actively traded corporate debentures issued by US companies.
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