Correlation Between Eagle Mid and Chartwell Short
Can any of the company-specific risk be diversified away by investing in both Eagle Mid and Chartwell 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 Mid and Chartwell Short 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 Chartwell Short Duration, you can compare the effects of market volatilities on Eagle Mid and Chartwell 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 Mid with a short position of Chartwell Short. Check out your portfolio center. Please also check ongoing floating volatility patterns of Eagle Mid and Chartwell Short.
Diversification Opportunities for Eagle Mid and Chartwell Short
0.85 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Eagle and Chartwell is 0.85. Overlapping area represents the amount of risk that can be diversified away by holding Eagle Mid Cap and Chartwell Short Duration in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Chartwell Short Duration 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 Chartwell Short. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Chartwell Short Duration has no effect on the direction of Eagle Mid i.e., Eagle Mid and Chartwell Short go up and down completely randomly.
Pair Corralation between Eagle Mid and Chartwell Short
Assuming the 90 days horizon Eagle Mid Cap is expected to generate 6.77 times more return on investment than Chartwell Short. However, Eagle Mid is 6.77 times more volatile than Chartwell Short Duration. It trades about 0.08 of its potential returns per unit of risk. Chartwell Short Duration is currently generating about 0.16 per unit of risk. If you would invest 8,140 in Eagle Mid Cap on June 6, 2025 and sell it today you would earn a total of 299.00 from holding Eagle Mid Cap or generate 3.67% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Eagle Mid Cap vs. Chartwell Short Duration
Performance |
| Timeline |
| Eagle Mid Cap |
| Chartwell Short Duration |
Eagle Mid and Chartwell Short Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Eagle Mid and Chartwell Short
The main advantage of trading using opposite Eagle Mid and Chartwell Short positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Eagle Mid position performs unexpectedly, Chartwell 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 Chartwell Short will offset losses from the drop in Chartwell Short's long position.| Eagle Mid vs. Mfs Mid Cap | Eagle Mid vs. Janus Triton Fund | Eagle Mid vs. Europacific Growth Fund | Eagle Mid vs. Mfs International Value |
| Chartwell Short vs. Carillon Chartwell Short | Chartwell Short vs. Carillon Chartwell Short | Chartwell Short vs. Eagle Growth Income | Chartwell Short vs. Eagle Capital Appreciation |
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 Suggestion module to get suggestions outside of your existing asset allocation including your own model portfolios.
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