Correlation Between Perkins Small and Segall Bryant

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Can any of the company-specific risk be diversified away by investing in both Perkins Small 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 Perkins Small and Segall Bryant into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Perkins Small Cap and Segall Bryant Hamill, you can compare the effects of market volatilities on Perkins Small 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 Perkins Small with a short position of Segall Bryant. Check out your portfolio center. Please also check ongoing floating volatility patterns of Perkins Small and Segall Bryant.

Diversification Opportunities for Perkins Small and Segall Bryant

0.92
  Correlation Coefficient

Almost no diversification

The 3 months correlation between Perkins and Segall is 0.92. Overlapping area represents the amount of risk that can be diversified away by holding Perkins Small Cap 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 Perkins Small 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 Perkins Small Cap 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 Perkins Small i.e., Perkins Small and Segall Bryant go up and down completely randomly.

Pair Corralation between Perkins Small and Segall Bryant

Assuming the 90 days horizon Perkins Small Cap is expected to generate 1.82 times more return on investment than Segall Bryant. However, Perkins Small is 1.82 times more volatile than Segall Bryant Hamill. It trades about 0.22 of its potential returns per unit of risk. Segall Bryant Hamill is currently generating about 0.36 per unit of risk. If you would invest  1,896  in Perkins Small Cap on April 20, 2025 and sell it today you would earn a total of  320.00  from holding Perkins Small Cap or generate 16.88% return on investment over 90 days.
Time Period3 Months [change]
DirectionMoves Together 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Perkins Small Cap  vs.  Segall Bryant Hamill

 Performance 
       Timeline  
Perkins Small Cap 

Risk-Adjusted Performance

Solid

 
Weak
 
Strong
Compared to the overall equity markets, risk-adjusted returns on investments in Perkins Small Cap are ranked lower than 17 (%) of all funds and portfolios of funds over the last 90 days. In spite of fairly weak fundamental indicators, Perkins Small showed solid returns over the last few months and may actually be approaching a breakup point.
Segall Bryant Hamill 

Risk-Adjusted Performance

Strong

 
Weak
 
Strong
Compared to the overall equity markets, risk-adjusted returns on investments in Segall Bryant Hamill are ranked lower than 28 (%) of all funds and portfolios of funds over the last 90 days. In spite of fairly weak forward indicators, Segall Bryant showed solid returns over the last few months and may actually be approaching a breakup point.

Perkins Small and Segall Bryant Volatility Contrast

   Predicted Return Density   
       Returns  

Pair Trading with Perkins Small and Segall Bryant

The main advantage of trading using opposite Perkins Small and Segall Bryant positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Perkins Small 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 Perkins Small Cap 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.
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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 Companies Directory module to evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals.

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