Correlation Analysis Between Glacier Bancorp and Eagle Bancorp

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

Comparative Performance

Glacier Bancorp  
33

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Glacier Bancorp are ranked lower than 3 (%) of all global equities and portfolios over the last 30 days. Despite nearly stable fundamental indicators, Glacier Bancorp is not utilizing all of its potentials. The current stock price disturbance, may contribute to mid-run losses for the stockholder.
Eagle Bancorp  
00

Risk-Adjusted Performance

Over the last 30 days Eagle Bancorp has generated negative risk-adjusted returns adding no value to investors with long positions. Allthough weak performance in the last few months, the Stock's forward indicators remain quite persistent which may send shares a bit higher in October 2019. The existing mess may also be a sign of long standing up-swing for the corporation partners.

Glacier Bancorp and Eagle Bancorp Volatility Contrast

 Predicted Return Density 
      Returns 

Glacier Bancorp Inc  vs.  Eagle Bancorp Inc

 Performance (%) 
      Timeline 

Pair Volatility

Given the investment horizon of 30 days, Glacier Bancorp is expected to generate 0.39 times more return on investment than Eagle Bancorp. However, Glacier Bancorp is 2.59 times less risky than Eagle Bancorp. It trades about 0.04 of its potential returns per unit of risk. Eagle Bancorp is currently generating about -0.06 per unit of risk. If you would invest  3,997  in Glacier Bancorp on August 17, 2019 and sell it today you would earn a total of  139.00  from holding Glacier Bancorp or generate 3.48% return on investment over 30 days.

Pair Corralation between Glacier Bancorp and Eagle Bancorp

0.77
Time Period3 Months [change]
DirectionPositive 
StrengthSignificant
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Glacier Bancorp and Eagle Bancorp

Glacier Bancorp Inc diversification synergy

Poor diversification

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