Correlation Between Eagle Capital and Carillon Chartwell
Can any of the company-specific risk be diversified away by investing in both Eagle Capital 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 Capital 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 Capital Appreciation and Carillon Chartwell Small, you can compare the effects of market volatilities on Eagle Capital 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 Capital with a short position of Carillon Chartwell. Check out your portfolio center. Please also check ongoing floating volatility patterns of Eagle Capital and Carillon Chartwell.
Diversification Opportunities for Eagle Capital and Carillon Chartwell
0.79 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Eagle and Carillon is 0.79. Overlapping area represents the amount of risk that can be diversified away by holding Eagle Capital Appreciation 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 Capital 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 Capital Appreciation 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 Capital i.e., Eagle Capital and Carillon Chartwell go up and down completely randomly.
Pair Corralation between Eagle Capital and Carillon Chartwell
Assuming the 90 days horizon Eagle Capital Appreciation is expected to generate 0.59 times more return on investment than Carillon Chartwell. However, Eagle Capital Appreciation is 1.7 times less risky than Carillon Chartwell. It trades about 0.24 of its potential returns per unit of risk. Carillon Chartwell Small is currently generating about 0.13 per unit of risk. If you would invest 5,910 in Eagle Capital Appreciation on May 29, 2025 and sell it today you would earn a total of 705.00 from holding Eagle Capital Appreciation or generate 11.93% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Eagle Capital Appreciation vs. Carillon Chartwell Small
Performance |
| Timeline |
| Eagle Capital Apprec |
| Carillon Chartwell Small |
Eagle Capital and Carillon Chartwell Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Eagle Capital and Carillon Chartwell
The main advantage of trading using opposite Eagle Capital and Carillon Chartwell positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Eagle Capital 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 Capital vs. Chartwell Short Duration | Eagle Capital vs. Carillon Chartwell Short | Eagle Capital vs. Chartwell Short Duration | Eagle Capital vs. Carillon Chartwell Short |
| Carillon Chartwell vs. Rbb Fund | Carillon Chartwell vs. Fabwx | Carillon Chartwell vs. T Rowe Price | Carillon Chartwell vs. Tax Managed Large Cap |
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 File Import module to quickly import all of your third-party portfolios from your local drive in csv format.
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