RiverNorth Specialty Correlations
| RMPL-PDelisted Preferred Stock | USD 25.29 0.00 0.00% |
The current 90-days correlation between RiverNorth Specialty and Oxford Lane Capital is -0.27 (i.e., Very good diversification). The correlation of RiverNorth Specialty 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. If the correlation is 0, the equities are not correlated; they are entirely random.
RiverNorth Specialty Correlation With Market
Significant diversification
The correlation between RiverNorth Specialty Finance and DJI is 0.06 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding RiverNorth Specialty Finance and DJI in the same portfolio, assuming nothing else is changed.
RiverNorth |
The ability to find closely correlated positions to RiverNorth Specialty could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace RiverNorth Specialty 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 RiverNorth Specialty - 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 RiverNorth Specialty Finance to buy it.
Moving together with RiverNorth Preferred Stock
| 0.84 | NVDA | NVIDIA | PairCorr |
| 0.79 | BMYMP | Bristol Myers Squibb | PairCorr |
| 0.82 | AMZN | Amazon Inc Aggressive Push | PairCorr |
| 0.75 | GOOG | Alphabet Class C | PairCorr |
| 0.67 | META | Meta Platforms Aggressive Push | PairCorr |
| 0.84 | CMWCF | Cromwell Property | PairCorr |
| 0.75 | PBMRF | PT Bumi Resources Earnings Call Tomorrow | PairCorr |
| 0.77 | TSLA | Tesla Inc Sell-off Trend | PairCorr |
| 0.81 | DIS | Walt Disney Aggressive Push | PairCorr |
| 0.9 | CMCSA | Comcast Corp Fiscal Year End 23rd of January 2025 | PairCorr |
| 0.72 | 61745EX63 | US61745EX638 | PairCorr |
| 0.96 | AAL | American Airlines Aggressive Push | PairCorr |
| 0.89 | NNE | Nano Nuclear Energy | PairCorr |
| 0.68 | CHRW | CH Robinson Worldwide | PairCorr |
| 0.76 | FORTY | Formula Systems 1985 | PairCorr |
| 0.96 | RCL | Royal Caribbean Cruises | PairCorr |
| 0.7 | CPTN | Cepton Inc | PairCorr |
| 0.61 | OTIS | Otis Worldwide Corp | PairCorr |
| 0.86 | BKR | Baker Hughes Sell-off Trend | PairCorr |
| 0.72 | OBDC | Blue Owl Capital | PairCorr |
| 0.87 | RKLB | Rocket Lab USA Buyout Trend | PairCorr |
| 0.94 | WAB | Westinghouse Air Brake | PairCorr |
| 0.93 | TDY | Teledyne Technologies Fiscal Year End 22nd of January 2025 | PairCorr |
| 0.85 | RIOT | Riot Blockchain | PairCorr |
| 0.9 | NYAX | Nayax | PairCorr |
Moving against RiverNorth Preferred Stock
| 0.77 | BKRKF | PT Bank Rakyat | PairCorr |
| 0.38 | PBCRF | PT Bank Central | PairCorr |
| 0.47 | BFCH | BitFrontier Capital | PairCorr |
| 0.36 | 717081ED1 | PFIZER INC 4125 | PairCorr |
Related Correlations Analysis
| 0.0 | 0.29 | 0.95 | 0.18 | OXLCM | ||
| 0.0 | 0.89 | -0.03 | 0.84 | GNT-PA | ||
| 0.29 | 0.89 | 0.24 | 0.87 | GGT-PE | ||
| 0.95 | -0.03 | 0.24 | 0.16 | CUBI-PE | ||
| 0.18 | 0.84 | 0.87 | 0.16 | SCE-PG | ||
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between RiverNorth Preferred Stock performing well and RiverNorth Specialty 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 RiverNorth Specialty'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| OXLCM | 0.07 | 0.01 | (1.24) | (0.73) | 0.00 | 0.16 | 0.41 | |||
| GNT-PA | 0.43 | 0.00 | (0.14) | 0.00 | 0.46 | 1.35 | 3.28 | |||
| GGT-PE | 0.47 | 0.04 | (0.07) | 0.50 | 0.62 | 1.44 | 5.53 | |||
| CUBI-PE | 0.31 | 0.06 | (0.10) | 1.13 | 0.20 | 0.89 | 1.95 | |||
| SCE-PG | 0.48 | 0.03 | (0.13) | 0.77 | 0.52 | 1.06 | 3.23 |
RiverNorth Specialty Related Equities
One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with RiverNorth Specialty preferred stock to make a market-neutral strategy. Peer analysis of RiverNorth Specialty could also be used in its relative valuation, which is a method of valuing RiverNorth Specialty by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
Still Interested in RiverNorth Specialty Finance?
Investing in delisted delisted preferred stocks can be risky, as the preferred stock is no longer traded on a public exchange and can therefore be difficult to sell. Delisting typically occurs when a company has failed to meet exchange requirements or has been acquired. Before investing, it's important to thoroughly research the company, including its financial health and prospects for the future, as well as the reasons for its delisting. Additionally, it may be difficult to find accurate and up-to-date information on the company and its stock.