Correlation Between Greenspring Fund and Segall Bryant

Can any of the company-specific risk be diversified away by investing in both Greenspring Fund and Segall Bryant 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 Greenspring Fund and Segall Bryant into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between Greenspring Fund Retail and Segall Bryant Hamill, you can compare the effects of market volatilities on Greenspring Fund and Segall Bryant 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 Greenspring Fund with a short position of Segall Bryant. Check out your portfolio center. Please also check ongoing floating volatility patterns of Greenspring Fund and Segall Bryant.

Diversification Opportunities for Greenspring Fund and Segall Bryant

0.91

Correlation Coefficient

Greenspring Fund  Segall Bryant

Almost no diversification

The 3 months correlation between Greenspring and Segall is 0.91. Overlapping area represents the amount of risk that can be diversified away by holding Greenspring Fund Retail and Segall Bryant Hamill in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Segall Bryant Hamill and Greenspring Fund 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 Greenspring Fund Retail are associated (or correlated) with Segall Bryant. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Segall Bryant Hamill has no effect on the direction of Greenspring Fund i.e., Greenspring Fund and Segall Bryant go up and down completely randomly.

Pair Corralation between Greenspring Fund and Segall Bryant

Assuming the 90 days horizon Greenspring Fund is expected to generate 1.05 times less return on investment than Segall Bryant. In addition to that, Greenspring Fund is 1.14 times more volatile than Segall Bryant Hamill. It trades about 0.21 of its total potential returns per unit of risk. Segall Bryant Hamill is currently generating about 0.25 per unit of volatility. If you would invest  1,214  in Segall Bryant Hamill on May 2, 2025 and sell it today you would earn a total of  130.00  from holding Segall Bryant Hamill or generate 10.71% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Together
Strength	Very Strong
Accuracy	98.39%
Values	Daily Returns

Greenspring Fund Retail  vs.  Segall Bryant Hamill

Greenspring Fund Retail

Risk-Adjusted Performance

Solid

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

Segall Bryant Hamill

Risk-Adjusted Performance

Solid

Compared to the overall equity markets, risk-adjusted returns on investments in Segall Bryant Hamill are ranked lower than 19 (%) of all funds and portfolios of funds over the last 90 days. In spite of fairly weak forward indicators, Segall Bryant may actually be approaching a critical reversion point that can send shares even higher in August 2025.

Pair Trading with Greenspring Fund and Segall Bryant

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

The idea behind Greenspring Fund Retail and Segall Bryant Hamill 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.

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 Portfolio Backtesting module to avoid under-diversification and over-optimization by backtesting your portfolios.