Oaktree Capital Correlations

OAK-PA Preferred Stock

USD 23.56 0.09 0.38%

The current 90-days correlation between Oaktree Capital Group and The Gabelli Multimedia is 0.11 (i.e., Average diversification). The correlation of Oaktree Capital is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

Oaktree Capital Correlation With Market

Modest diversification

The correlation between Oaktree Capital Group and DJI is 0.24 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Oaktree Capital Group and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Oaktree Capital could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Oaktree Capital when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Oaktree Capital - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Oaktree Capital Group to buy it.

Moving together with Oaktree Preferred Stock

0.63	PFG	Principal Financial	Pair Corr
0.84	NTRSO	Northern Trust	Pair Corr
0.73	GGN-PB	GAMCO Global Gold	Pair Corr
0.96	OAK-PB	Oaktree Capital Group	Pair Corr
0.88	GGT-PE	The Gabelli Multimedia	Pair Corr
0.71	GAINN	Gladstone Investment	Pair Corr
0.83	ECF-PA	Ellsworth Growth	Pair Corr

Moving against Oaktree Preferred Stock

0.64	CIXXF	CI Financial Corp	Pair Corr
0.48	TRAC	Track Data	Pair Corr
0.47	BCGWW	Binah Capital Group,	Pair Corr
0.46	L	Loews Corp	Pair Corr
0.38	BY	Byline Bancorp Fiscal Year End 23rd of January 2025	Pair Corr
0.37	AX	Axos Financial	Pair Corr

Related Correlations Analysis

	GGT-PE	GAB-PH	NCV-PA	TY-P	VKQ	GAB-PG	VKI	IQI	VCV	KTF
GGT-PE		0.93	0.86	0.61	0.45	0.82	0.39	0.62	-0.02	0.58	GGT-PE
GAB-PH	0.93		0.89	0.66	0.55	0.89	0.48	0.62	0.07	0.49	GAB-PH
NCV-PA	0.86	0.89		0.81	0.52	0.85	0.39	0.72	0.23	0.33	NCV-PA
TY-P	0.61	0.66	0.81		0.63	0.61	0.39	0.71	0.51	0.04	TY-P
VKQ	0.45	0.55	0.52	0.63		0.58	0.86	0.72	0.7	0.31	VKQ
GAB-PG	0.82	0.89	0.85	0.61	0.58		0.51	0.61	0.09	0.5	GAB-PG
VKI	0.39	0.48	0.39	0.39	0.86	0.51		0.65	0.51	0.37	VKI
IQI	0.62	0.62	0.72	0.71	0.72	0.61	0.65		0.61	0.46	IQI
VCV	-0.02	0.07	0.23	0.51	0.7	0.09	0.51	0.61		-0.04	VCV
KTF	0.58	0.49	0.33	0.04	0.31	0.5	0.37	0.46	-0.04		KTF
	GGT-PE	GAB-PH	NCV-PA	TY-P	VKQ	GAB-PG	VKI	IQI	VCV	KTF

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

GAB-PH	+ 0.93	GGT-PE
NCV-PA	+ 0.89	GAB-PH
GAB-PG	+ 0.89	GAB-PH
NCV-PA	+ 0.86	GGT-PE
VKI	+ 0.86	VKQ
GAB-PG	+ 0.85	NCV-PA

High negative correlations

KTF	- 0.04	VCV
VCV	- 0.02	GGT-PE

Risk-Adjusted Indicators

There is a big difference between Oaktree Preferred Stock performing well and Oaktree Capital Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Oaktree Capital's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
GGT-PE	0.46	0.04	(0.07)	0.51	0.61	(0.68)	1.44	(0.99)	5.53
GAB-PH	0.44	0.11	(0.02)	(6.18)	0.36	(0.48)	1.17	(0.93)	3.34
NCV-PA	0.47	0.03	(0.13)	(0.18)	0.66	(0.53)	1.08	(1.21)	3.97
TY-P	0.40	(0.05)	0.00	0.71	0.00	0.00	1.05	(1.09)	4.14
VKQ	0.36	0.01	(0.24)	0.04	0.45	(0.42)	0.80	(0.90)	2.19
GAB-PG	0.72	0.09	(0.04)	(1.91)	0.77	(0.81)	1.68	(1.22)	5.27
VKI	0.39	0.01	(0.21)	0.39	0.41	(0.45)	0.79	(0.66)	2.47
IQI	0.39	(0.01)	(0.22)	(0.12)	0.53	(0.37)	0.79	(0.70)	2.30
VCV	0.53	(0.05)	0.00	(0.94)	0.00	0.00	0.95	(0.97)	3.87
KTF	0.44	0.04	(0.13)	(1.47)	0.49	(0.53)	1.12	(0.61)	3.40

Be your own money manager

Our tools can tell you how much better you can do entering a position in Oaktree Capital without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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