Correlation Between Eagle Small and Tiaa-cref Managed
Can any of the company-specific risk be diversified away by investing in both Eagle Small and Tiaa-cref Managed 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 Tiaa-cref Managed 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 Tiaa Cref Managed Allocation, you can compare the effects of market volatilities on Eagle Small and Tiaa-cref Managed 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 Tiaa-cref Managed. Check out your portfolio center. Please also check ongoing floating volatility patterns of Eagle Small and Tiaa-cref Managed.
Diversification Opportunities for Eagle Small and Tiaa-cref Managed
0.93 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Eagle and Tiaa-cref is 0.93. Overlapping area represents the amount of risk that can be diversified away by holding Eagle Small Cap and Tiaa Cref Managed Allocation in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Tiaa Cref Managed 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 Tiaa-cref Managed. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Tiaa Cref Managed has no effect on the direction of Eagle Small i.e., Eagle Small and Tiaa-cref Managed go up and down completely randomly.
Pair Corralation between Eagle Small and Tiaa-cref Managed
Assuming the 90 days horizon Eagle Small Cap is expected to generate 2.53 times more return on investment than Tiaa-cref Managed. However, Eagle Small is 2.53 times more volatile than Tiaa Cref Managed Allocation. It trades about 0.19 of its potential returns per unit of risk. Tiaa Cref Managed Allocation is currently generating about 0.23 per unit of risk. If you would invest 1,945 in Eagle Small Cap on June 1, 2025 and sell it today you would earn a total of 244.00 from holding Eagle Small Cap or generate 12.54% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 98.44% |
| Values | Daily Returns |
Eagle Small Cap vs. Tiaa Cref Managed Allocation
Performance |
| Timeline |
| Eagle Small Cap |
| Tiaa Cref Managed |
Eagle Small and Tiaa-cref Managed Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Eagle Small and Tiaa-cref Managed
The main advantage of trading using opposite Eagle Small and Tiaa-cref Managed positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Eagle Small position performs unexpectedly, Tiaa-cref Managed 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 Tiaa-cref Managed will offset losses from the drop in Tiaa-cref Managed's long position.| Eagle Small vs. Thrivent Natural Resources | Eagle Small vs. Energy Basic Materials | Eagle Small vs. Invesco Energy Fund | Eagle Small vs. Icon Natural Resources |
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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 Equity Search module to search for actively traded equities including funds and ETFs from over 30 global markets.
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