Correlation Between Eaton Vance and MAST GLOBAL
Can any of the company-specific risk be diversified away by investing in both Eaton Vance and MAST GLOBAL 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 Eaton Vance and MAST GLOBAL into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Eaton Vance Senior and MAST GLOBAL BATTERY, you can compare the effects of market volatilities on Eaton Vance and MAST GLOBAL 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 Eaton Vance with a short position of MAST GLOBAL. Check out your portfolio center. Please also check ongoing floating volatility patterns of Eaton Vance and MAST GLOBAL.
Diversification Opportunities for Eaton Vance and MAST GLOBAL
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Eaton and MAST is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Eaton Vance Senior and MAST GLOBAL BATTERY in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on MAST GLOBAL BATTERY and Eaton Vance 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 Eaton Vance Senior are associated (or correlated) with MAST GLOBAL. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of MAST GLOBAL BATTERY has no effect on the direction of Eaton Vance i.e., Eaton Vance and MAST GLOBAL go up and down completely randomly.
Pair Corralation between Eaton Vance and MAST GLOBAL
If you would invest 474.00 in Eaton Vance Senior on February 3, 2024 and sell it today you would earn a total of 165.00 from holding Eaton Vance Senior or generate 34.81% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Flat |
Strength | Insignificant |
Accuracy | 0.0% |
Values | Daily Returns |
Eaton Vance Senior vs. MAST GLOBAL BATTERY
Performance |
Timeline |
Eaton Vance Senior |
MAST GLOBAL BATTERY |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Eaton Vance and MAST GLOBAL Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Eaton Vance and MAST GLOBAL
The main advantage of trading using opposite Eaton Vance and MAST GLOBAL positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Eaton Vance position performs unexpectedly, MAST GLOBAL 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 MAST GLOBAL will offset losses from the drop in MAST GLOBAL's long position.Eaton Vance vs. Pimco New York | Eaton Vance vs. Pimco New York | Eaton Vance vs. GAMCO Natural Resources | Eaton Vance vs. Nuveen Pennsylvania Quality |
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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 Bond Analysis module to evaluate and analyze corporate bonds as a potential investment for your portfolios..
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