Correlation Between Mesirow Financial and First Eagle

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

Diversification Opportunities for Mesirow Financial and First Eagle

0.0
  Correlation Coefficient

Pay attention - limited upside

The 3 months correlation between Mesirow and First is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Mesirow Financial High and First Eagle Smid in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on First Eagle Smid and Mesirow Financial 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 Mesirow Financial High are associated (or correlated) with First Eagle. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of First Eagle Smid has no effect on the direction of Mesirow Financial i.e., Mesirow Financial and First Eagle go up and down completely randomly.

Pair Corralation between Mesirow Financial and First Eagle

If you would invest  801.00  in Mesirow Financial High on May 27, 2025 and sell it today you would earn a total of  40.00  from holding Mesirow Financial High or generate 4.99% return on investment over 90 days.
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy0.0%
ValuesDaily Returns

Mesirow Financial High  vs.  First Eagle Smid

 Performance 
       Timeline  
Mesirow Financial High 

Risk-Adjusted Performance

Prime

 
Weak
 
Strong
Compared to the overall equity markets, risk-adjusted returns on investments in Mesirow Financial High are ranked lower than 43 (%) of all funds and portfolios of funds over the last 90 days. In spite of fairly strong basic indicators, Mesirow Financial is not utilizing all of its potentials. The current stock price disturbance, may contribute to short-term losses for the investors.
First Eagle Smid 

Risk-Adjusted Performance

Good

 
Weak
 
Strong
Over the last 90 days First Eagle Smid has generated negative risk-adjusted returns adding no value to fund investors. In spite of fairly strong basic indicators, First Eagle is not utilizing all of its potentials. The current stock price disturbance, may contribute to short-term losses for the investors.

Mesirow Financial and First Eagle Volatility Contrast

   Predicted Return Density   
       Returns  

Pair Trading with Mesirow Financial and First Eagle

The main advantage of trading using opposite Mesirow Financial and First Eagle positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Mesirow Financial position performs unexpectedly, First Eagle 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 First Eagle will offset losses from the drop in First Eagle's long position.
The idea behind Mesirow Financial High and First Eagle Smid 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 Earnings Calls module to check upcoming earnings announcements updated hourly across public exchanges.

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