Correlation Between Eagle Small and Multi-manager High
Can any of the company-specific risk be diversified away by investing in both Eagle Small and Multi-manager High 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 Small and Multi-manager High into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Eagle Small Cap and Multi Manager High Yield, you can compare the effects of market volatilities on Eagle Small and Multi-manager High 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 Small with a short position of Multi-manager High. Check out your portfolio center. Please also check ongoing floating volatility patterns of Eagle Small and Multi-manager High.
Diversification Opportunities for Eagle Small and Multi-manager High
0.67 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Eagle and Multi-manager is 0.67. Overlapping area represents the amount of risk that can be diversified away by holding Eagle Small Cap and Multi Manager High Yield in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Multi Manager High and Eagle Small 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 Small Cap are associated (or correlated) with Multi-manager High. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Multi Manager High has no effect on the direction of Eagle Small i.e., Eagle Small and Multi-manager High go up and down completely randomly.
Pair Corralation between Eagle Small and Multi-manager High
Assuming the 90 days horizon Eagle Small is expected to generate 48.0 times less return on investment than Multi-manager High. In addition to that, Eagle Small is 6.92 times more volatile than Multi Manager High Yield. It trades about 0.0 of its total potential returns per unit of risk. Multi Manager High Yield is currently generating about 0.06 per unit of volatility. If you would invest 836.00 in Multi Manager High Yield on August 22, 2025 and sell it today you would earn a total of 5.00 from holding Multi Manager High Yield or generate 0.6% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Eagle Small Cap vs. Multi Manager High Yield
Performance |
| Timeline |
| Eagle Small Cap |
| Multi Manager High |
Eagle Small and Multi-manager High Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Eagle Small and Multi-manager High
The main advantage of trading using opposite Eagle Small and Multi-manager High positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Eagle Small position performs unexpectedly, Multi-manager High 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 Multi-manager High will offset losses from the drop in Multi-manager High's long position.| Eagle Small vs. Chartwell Short Duration | Eagle Small vs. Carillon Chartwell Short | Eagle Small vs. Chartwell Short Duration | Eagle Small vs. Carillon Chartwell Short |
| Multi-manager High vs. Glg Intl Small | Multi-manager High vs. Franklin Small Cap | Multi-manager High vs. Eagle Small Cap | Multi-manager High vs. Omni Small Cap Value |
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 Comparator module to compare the composition, asset allocations and performance of any two portfolios in your account.
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