Correlation Between Eagle International and Evaluator Growth

Can any of the company-specific risk be diversified away by investing in both Eagle International and Evaluator 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 Eagle International and Evaluator Growth into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between Eagle International Stock and Evaluator Growth Rms, you can compare the effects of market volatilities on Eagle International and Evaluator 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 Eagle International with a short position of Evaluator Growth. Check out your portfolio center. Please also check ongoing floating volatility patterns of Eagle International and Evaluator Growth.

Diversification Opportunities for Eagle International and Evaluator Growth

0.97

Correlation Coefficient

Eagle International  Evaluator Growth

Almost no diversification

The 3 months correlation between Eagle and Evaluator is 0.97. Overlapping area represents the amount of risk that can be diversified away by holding Eagle International Stock and Evaluator Growth Rms in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Evaluator Growth Rms and Eagle International 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 International Stock are associated (or correlated) with Evaluator Growth. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Evaluator Growth Rms has no effect on the direction of Eagle International i.e., Eagle International and Evaluator Growth go up and down completely randomly.

Pair Corralation between Eagle International and Evaluator Growth

Assuming the 90 days horizon Eagle International is expected to generate 1.03 times less return on investment than Evaluator Growth. In addition to that, Eagle International is 1.1 times more volatile than Evaluator Growth Rms. It trades about 0.21 of its total potential returns per unit of risk. Evaluator Growth Rms is currently generating about 0.23 per unit of volatility. If you would invest  1,175  in Evaluator Growth Rms on May 9, 2025 and sell it today you would earn a total of  104.00  from holding Evaluator Growth Rms or generate 8.85% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Together
Strength	Very Strong
Accuracy	100.0%
Values	Daily Returns

Eagle International Stock  vs.  Evaluator Growth Rms

Eagle International Stock

Risk-Adjusted Performance

Solid

Compared to the overall equity markets, risk-adjusted returns on investments in Eagle International Stock are ranked lower than 16 (%) of all funds and portfolios of funds over the last 90 days. In spite of fairly weak forward indicators, Eagle International may actually be approaching a critical reversion point that can send shares even higher in September 2025.

Evaluator Growth Rms

Risk-Adjusted Performance

Solid

Compared to the overall equity markets, risk-adjusted returns on investments in Evaluator Growth Rms are ranked lower than 18 (%) of all funds and portfolios of funds over the last 90 days. In spite of fairly weak basic indicators, Evaluator Growth may actually be approaching a critical reversion point that can send shares even higher in September 2025.

Pair Trading with Eagle International and Evaluator Growth

The main advantage of trading using opposite Eagle International and Evaluator Growth positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Eagle International position performs unexpectedly, Evaluator 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 Evaluator Growth will offset losses from the drop in Evaluator Growth's long position.

The idea behind Eagle International Stock and Evaluator Growth Rms pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.

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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..