Correlation Analysis Between Dime Community and Eagle Financial

This module allows you to analyze existing cross correlation between Dime Community Bancshares and Eagle Financial Bancorp. You can compare the effects of market volatilities on Dime Community and Eagle Financial 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 Dime Community with a short position of Eagle Financial. See also your portfolio center. Please also check ongoing floating volatility patterns of Dime Community and Eagle Financial.
Horizon     30 Days    Login   to change
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Comparative Performance

Dime Community Bancs  
00

Risk-Adjusted Performance

Over the last 30 days Dime Community Bancshares has generated negative risk-adjusted returns adding no value to investors with long positions. Even with considerably steady technical indicators, Dime Community is not utilizing all of its potentials. The ongoing stock price chaos, may contribute to medium term losses for the stakeholders.
Eagle Financial Bancorp  
11

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Eagle Financial Bancorp are ranked lower than 1 (%) of all global equities and portfolios over the last 30 days. Despite nearly stable fundamental indicators, Eagle Financial is not utilizing all of its potentials. The ongoing stock price disturbance, may contribute to mid-run losses for the stockholder.

Dime Community and Eagle Financial Volatility Contrast

 Predicted Return Density 
      Returns 

Dime Community Bancshares Inc  vs.  Eagle Financial Bancorp Inc

 Performance (%) 
      Timeline 

Pair Volatility

Given the investment horizon of 30 days, Dime Community Bancshares is expected to under-perform the Eagle Financial. But the stock apears to be less risky and, when comparing its historical volatility, Dime Community Bancshares is 1.01 times less risky than Eagle Financial. The stock trades about -0.02 of its potential returns per unit of risk. The Eagle Financial Bancorp is currently generating about 0.02 of returns per unit of risk over similar time horizon. If you would invest  1,585  in Eagle Financial Bancorp on November 9, 2019 and sell it today you would earn a total of  25.00  from holding Eagle Financial Bancorp or generate 1.58% return on investment over 30 days.

Pair Corralation between Dime Community and Eagle Financial

-0.17
Time Period3 Months [change]
DirectionNegative 
StrengthInsignificant
Accuracy95.38%
ValuesDaily Returns

Diversification Opportunities for Dime Community and Eagle Financial

Dime Community Bancshares Inc diversification synergy

Good diversification

Overlapping area represents the amount of risk that can be diversified away by holding Dime Community Bancshares Inc and Eagle Financial Bancorp Inc in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Eagle Financial Bancorp and Dime Community 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 Dime Community Bancshares are associated (or correlated) with Eagle Financial. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Eagle Financial Bancorp has no effect on the direction of Dime Community i.e. Dime Community and Eagle Financial go up and down completely randomly.
See also your portfolio center. Please also try Equity Valuation module to check real value of public entities based on technical and fundamental data.


 
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