Correlation Between Short Intermediate and Easterly Snow

Can any of the company-specific risk be diversified away by investing in both Short Intermediate and Easterly Snow 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 Short Intermediate and Easterly Snow into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between Short Intermediate Bond Fund and Easterly Snow Longshort, you can compare the effects of market volatilities on Short Intermediate and Easterly Snow 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 Short Intermediate with a short position of Easterly Snow. Check out your portfolio center. Please also check ongoing floating volatility patterns of Short Intermediate and Easterly Snow.

Diversification Opportunities for Short Intermediate and Easterly Snow

0.46

Correlation Coefficient

Short Intermediate  Easterly Snow

Very weak diversification

The 3 months correlation between Short and Easterly is 0.46. Overlapping area represents the amount of risk that can be diversified away by holding Short Intermediate Bond Fund and Easterly Snow Longshort in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Easterly Snow Longshort and Short Intermediate 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 Short Intermediate Bond Fund are associated (or correlated) with Easterly Snow. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Easterly Snow Longshort has no effect on the direction of Short Intermediate i.e., Short Intermediate and Easterly Snow go up and down completely randomly.

Pair Corralation between Short Intermediate and Easterly Snow

Assuming the 90 days horizon Short Intermediate is expected to generate 8.67 times less return on investment than Easterly Snow. But when comparing it to its historical volatility, Short Intermediate Bond Fund is 7.75 times less risky than Easterly Snow. It trades about 0.16 of its potential returns per unit of risk. Easterly Snow Longshort is currently generating about 0.18 of returns per unit of risk over similar time horizon. If you would invest  3,015  in Easterly Snow Longshort on September 18, 2025 and sell it today you would earn a total of  658.00  from holding Easterly Snow Longshort or generate 21.82% return on investment over 90 days.

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

Short Intermediate Bond Fund  vs.  Easterly Snow Longshort

Short Intermediate Bond

Risk-Adjusted Performance

Mild

Compared to the overall equity markets, risk-adjusted returns on investments in Short Intermediate Bond Fund are ranked lower than 6 (%) of all funds and portfolios of funds over the last 90 days. In spite of fairly strong forward indicators, Short Intermediate is not utilizing all of its potentials. The current stock price disturbance, may contribute to short-term losses for the investors.

Easterly Snow Longshort

Risk-Adjusted Performance

Good

Compared to the overall equity markets, risk-adjusted returns on investments in Easterly Snow Longshort are ranked lower than 13 (%) of all funds and portfolios of funds over the last 90 days. In spite of fairly weak basic indicators, Easterly Snow may actually be approaching a critical reversion point that can send shares even higher in January 2026.

Pair Trading with Short Intermediate and Easterly Snow

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

The idea behind Short Intermediate Bond Fund and Easterly Snow Longshort 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 Stock Tickers module to use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites.