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 Small, 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
0.76 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Eagle and Carillon is 0.76. Overlapping area represents the amount of risk that can be diversified away by holding Eagle Mid Cap and Carillon Chartwell Small in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Carillon Chartwell Small 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 Small 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 Cap is expected to under-perform the Carillon Chartwell. But the mutual fund apears to be less risky and, when comparing its historical volatility, Eagle Mid Cap is 1.21 times less risky than Carillon Chartwell. The mutual fund trades about -0.02 of its potential returns per unit of risk. The Carillon Chartwell Small is currently generating about 0.01 of returns per unit of risk over similar time horizon. If you would invest 1,476 in Carillon Chartwell Small on September 2, 2025 and sell it today you would earn a total of 0.00 from holding Carillon Chartwell Small or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 98.46% |
| Values | Daily Returns |
Eagle Mid Cap vs. Carillon Chartwell Small
Performance |
| Timeline |
| Eagle Mid Cap |
| Carillon Chartwell Small |
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. Small Cap Growth Profund | Eagle Mid vs. Ultramid Cap Profund Ultramid Cap | Eagle Mid vs. Ultrasmall Cap Profund Ultrasmall Cap | Eagle Mid vs. Small Cap Value Profund |
| Carillon Chartwell vs. California High Yield Municipal | Carillon Chartwell vs. Delaware Minnesota High Yield | Carillon Chartwell vs. Voya High Yield | Carillon Chartwell vs. Janus High Yield 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 Cryptocurrency Center module to build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency.
Other Complementary Tools
| Sign In To Macroaxis Sign in to explore Macroaxis' wealth optimization platform and fintech modules | |
| Money Managers Screen money managers from public funds and ETFs managed around the world | |
| Sync Your Broker Sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors. | |
| Technical Analysis Check basic technical indicators and analysis based on most latest market data | |
| Pair Correlation Compare performance and examine fundamental relationship between any two equity instruments |