Correlation Analysis Between ESSA Bancorp and Eagle Financial

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

Comparative Performance

ESSA Bancorp  
1111

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in ESSA Bancorp are ranked lower than 11 (%) of all global equities and portfolios over the last 30 days. Despite somewhat weak basic indicators, ESSA 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.

ESSA Bancorp and Eagle Financial Volatility Contrast

 Predicted Return Density 
      Returns 

ESSA Bancorp Inc  vs.  Eagle Financial Bancorp Inc

 Performance (%) 
      Timeline 

Pair Volatility

Given the investment horizon of 30 days, ESSA Bancorp is expected to generate 0.58 times more return on investment than Eagle Financial. However, ESSA Bancorp is 1.71 times less risky than Eagle Financial. It trades about 0.16 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  1,498  in ESSA Bancorp on October 18, 2019 and sell it today you would earn a total of  193.00  from holding ESSA Bancorp or generate 12.88% return on investment over 30 days.

Pair Corralation between ESSA Bancorp and Eagle Financial

0.36
Time Period3 Months [change]
DirectionPositive 
StrengthVery Weak
Accuracy92.31%
ValuesDaily Returns

Diversification Opportunities for ESSA Bancorp and Eagle Financial

ESSA Bancorp Inc diversification synergy

Weak diversification

Overlapping area represents the amount of risk that can be diversified away by holding ESSA 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 ESSA 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 ESSA 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 ESSA Bancorp i.e. ESSA Bancorp and Eagle Financial go up and down completely randomly.
See also your portfolio center. Please also try Pattern Recognition module to use different pattern recognition models to time the market across multiple global exchanges.


 
Search macroaxis.com