Correlation Between Chase Growth and Carillon Scout
Can any of the company-specific risk be diversified away by investing in both Chase Growth and Carillon Scout 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 Chase Growth and Carillon Scout into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Chase Growth Fund and Carillon Scout Small, you can compare the effects of market volatilities on Chase Growth and Carillon Scout 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 Chase Growth with a short position of Carillon Scout. Check out your portfolio center. Please also check ongoing floating volatility patterns of Chase Growth and Carillon Scout.
Diversification Opportunities for Chase Growth and Carillon Scout
0.98 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Chase and Carillon is 0.98. Overlapping area represents the amount of risk that can be diversified away by holding Chase Growth Fund and Carillon Scout Small in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Carillon Scout Small and Chase Growth 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 Chase Growth Fund are associated (or correlated) with Carillon Scout. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Carillon Scout Small has no effect on the direction of Chase Growth i.e., Chase Growth and Carillon Scout go up and down completely randomly.
Pair Corralation between Chase Growth and Carillon Scout
Assuming the 90 days horizon Chase Growth Fund is expected to generate 0.76 times more return on investment than Carillon Scout. However, Chase Growth Fund is 1.32 times less risky than Carillon Scout. It trades about 0.3 of its potential returns per unit of risk. Carillon Scout Small is currently generating about 0.13 per unit of risk. If you would invest 1,362 in Chase Growth Fund on May 12, 2025 and sell it today you would earn a total of 201.00 from holding Chase Growth Fund or generate 14.76% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Very Strong |
Accuracy | 100.0% |
Values | Daily Returns |
Chase Growth Fund vs. Carillon Scout Small
Performance |
Timeline |
Chase Growth |
Carillon Scout Small |
Chase Growth and Carillon Scout Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Chase Growth and Carillon Scout
The main advantage of trading using opposite Chase Growth and Carillon Scout positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Chase Growth position performs unexpectedly, Carillon Scout 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 Scout will offset losses from the drop in Carillon Scout's long position.Chase Growth vs. Cambiar Opportunity Fund | Chase Growth vs. The Chesapeake Growth | Chase Growth vs. The Jensen Portfolio | Chase Growth vs. Aston Montag Caldwell |
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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 AI Portfolio Prophet module to use AI to generate optimal portfolios and find profitable investment opportunities.
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