Correlation Analysis Between Meridian Bancorp and Eagle Financial

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

Meridian Bancorp  
77

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Meridian Bancorp are ranked lower than 7 (%) of all global equities and portfolios over the last 30 days. Despite somewhat weak basic indicators, Meridian Bancorp may actually be approaching a critical reversion point that can send shares even higher in December 2019.
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.

Meridian Bancorp and Eagle Financial Volatility Contrast

 Predicted Return Density 
      Returns 

Meridian Bancorp Inc  vs.  Eagle Financial Bancorp Inc

 Performance (%) 
      Timeline 

Pair Volatility

Given the investment horizon of 30 days, Meridian Bancorp is expected to generate 0.69 times more return on investment than Eagle Financial. However, Meridian Bancorp is 1.45 times less risky than Eagle Financial. It trades about 0.11 of its potential returns per unit of risk. Eagle Financial Bancorp is currently generating about 0.02 per unit of risk. If you would invest  1,811  in Meridian Bancorp on October 16, 2019 and sell it today you would earn a total of  174.00  from holding Meridian Bancorp or generate 9.61% return on investment over 30 days.

Pair Corralation between Meridian Bancorp and Eagle Financial

0.27
Time Period3 Months [change]
DirectionPositive 
StrengthVery Weak
Accuracy92.06%
ValuesDaily Returns

Diversification Opportunities for Meridian Bancorp and Eagle Financial

Meridian Bancorp Inc diversification synergy

Modest diversification

Overlapping area represents the amount of risk that can be diversified away by holding Meridian Bancorp 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 Meridian Bancorp 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 Meridian Bancorp 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 Meridian Bancorp i.e. Meridian Bancorp and Eagle Financial go up and down completely randomly.
See also your portfolio center. Please also try Companies Directory module to evaluate performance of over 100,000 stocks, funds, and etfs against different fundamentals.


 
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