Correlation Between Siit Large and Eagle Growth
Can any of the company-specific risk be diversified away by investing in both Siit Large and Eagle Growth 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 Siit Large and Eagle Growth into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Siit Large Cap and Eagle Growth Income, you can compare the effects of market volatilities on Siit Large and Eagle Growth 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 Siit Large with a short position of Eagle Growth. Check out your portfolio center. Please also check ongoing floating volatility patterns of Siit Large and Eagle Growth.
Diversification Opportunities for Siit Large and Eagle Growth
0.98 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Siit and Eagle is 0.98. Overlapping area represents the amount of risk that can be diversified away by holding Siit Large Cap and Eagle Growth Income in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Eagle Growth Income and Siit Large 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 Siit Large Cap are associated (or correlated) with Eagle Growth. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Eagle Growth Income has no effect on the direction of Siit Large i.e., Siit Large and Eagle Growth go up and down completely randomly.
Pair Corralation between Siit Large and Eagle Growth
Assuming the 90 days horizon Siit Large Cap is expected to generate 1.15 times more return on investment than Eagle Growth. However, Siit Large is 1.15 times more volatile than Eagle Growth Income. It trades about 0.13 of its potential returns per unit of risk. Eagle Growth Income is currently generating about 0.15 per unit of risk. If you would invest 20,932 in Siit Large Cap on July 20, 2025 and sell it today you would earn a total of 1,214 from holding Siit Large Cap or generate 5.8% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Siit Large Cap vs. Eagle Growth Income
Performance |
| Timeline |
| Siit Large Cap |
| Eagle Growth Income |
Siit Large and Eagle Growth Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Siit Large and Eagle Growth
The main advantage of trading using opposite Siit Large and Eagle Growth positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Siit Large position performs unexpectedly, Eagle Growth 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 Eagle Growth will offset losses from the drop in Eagle Growth's long position.| Siit Large vs. Hennessy Focus Fund | Siit Large vs. Nationwide Sp 500 | Siit Large vs. Simt Large Cap | Siit Large vs. Siit Dynamic Asset |
| Eagle Growth vs. Small Pany Growth | Eagle Growth vs. Growth Allocation Fund | Eagle Growth vs. The Hartford Growth | Eagle Growth vs. Gamco International Growth |
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 USA ETFs module to find actively traded Exchange Traded Funds (ETF) in USA.
Other Complementary Tools
| Global Markets Map Get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes | |
| Economic Indicators Top statistical indicators that provide insights into how an economy is performing | |
| Cryptocurrency Center Build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency | |
| Portfolio Optimization Compute new portfolio that will generate highest expected return given your specified tolerance for risk | |
| Efficient Frontier Plot and analyze your portfolio and positions against risk-return landscape of the market. |