Correlation Between Calvert Emerging and Hartford Emerging
Can any of the company-specific risk be diversified away by investing in both Calvert Emerging and Hartford Emerging 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 Calvert Emerging and Hartford Emerging into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Calvert Emerging Markets and The Hartford Emerging, you can compare the effects of market volatilities on Calvert Emerging and Hartford Emerging 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 Calvert Emerging with a short position of Hartford Emerging. Check out your portfolio center. Please also check ongoing floating volatility patterns of Calvert Emerging and Hartford Emerging.
Diversification Opportunities for Calvert Emerging and Hartford Emerging
0.67 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Calvert and Hartford is 0.67. Overlapping area represents the amount of risk that can be diversified away by holding Calvert Emerging Markets and The Hartford Emerging in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Hartford Emerging and Calvert Emerging 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 Calvert Emerging Markets are associated (or correlated) with Hartford Emerging. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Hartford Emerging has no effect on the direction of Calvert Emerging i.e., Calvert Emerging and Hartford Emerging go up and down completely randomly.
Pair Corralation between Calvert Emerging and Hartford Emerging
Assuming the 90 days horizon Calvert Emerging is expected to generate 42.08 times less return on investment than Hartford Emerging. In addition to that, Calvert Emerging is 2.3 times more volatile than The Hartford Emerging. It trades about 0.0 of its total potential returns per unit of risk. The Hartford Emerging is currently generating about 0.17 per unit of volatility. If you would invest 468.00 in The Hartford Emerging on May 4, 2025 and sell it today you would earn a total of 16.00 from holding The Hartford Emerging or generate 3.42% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Significant |
Accuracy | 100.0% |
Values | Daily Returns |
Calvert Emerging Markets vs. The Hartford Emerging
Performance |
Timeline |
Calvert Emerging Markets |
Hartford Emerging |
Calvert Emerging and Hartford Emerging Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Calvert Emerging and Hartford Emerging
The main advantage of trading using opposite Calvert Emerging and Hartford Emerging positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Calvert Emerging position performs unexpectedly, Hartford Emerging 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 Hartford Emerging will offset losses from the drop in Hartford Emerging's long position.Calvert Emerging vs. Amg River Road | Calvert Emerging vs. Pace Smallmedium Value | Calvert Emerging vs. Small Cap Value Series | Calvert Emerging vs. Goldman Sachs Small |
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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 Share Portfolio module to track or share privately all of your investments from the convenience of any device.
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