Correlation Between Bet At and Oxford Technology
Can any of the company-specific risk be diversified away by investing in both Bet At and Oxford Technology at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Bet At and Oxford Technology into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between bet at home AG and Oxford Technology 2, you can compare the effects of market volatilities on Bet At and Oxford Technology 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 Bet At with a short position of Oxford Technology. Check out your portfolio center. Please also check ongoing floating volatility patterns of Bet At and Oxford Technology.
Diversification Opportunities for Bet At and Oxford Technology
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Bet and Oxford is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding bet at home AG and Oxford Technology 2 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Oxford Technology and Bet At 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 bet at home AG are associated (or correlated) with Oxford Technology. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Oxford Technology has no effect on the direction of Bet At i.e., Bet At and Oxford Technology go up and down completely randomly.
Pair Corralation between Bet At and Oxford Technology
Assuming the 90 days trading horizon bet at home AG is expected to generate 1.74 times more return on investment than Oxford Technology. However, Bet At is 1.74 times more volatile than Oxford Technology 2. It trades about -0.04 of its potential returns per unit of risk. Oxford Technology 2 is currently generating about -0.12 per unit of risk. If you would invest 760.00 in bet at home AG on October 30, 2024 and sell it today you would lose (476.00) from holding bet at home AG or give up 62.63% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
bet at home AG vs. Oxford Technology 2
Performance |
| Timeline |
| bet at home |
| Oxford Technology |
Bet At and Oxford Technology Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Bet At and Oxford Technology
The main advantage of trading using opposite Bet At and Oxford Technology positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Bet At position performs unexpectedly, Oxford Technology can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Oxford Technology will offset losses from the drop in Oxford Technology's long position.| Bet At vs. Berkshire Hathaway | Bet At vs. Samsung Electronics Co | Bet At vs. Samsung Electronics Co | Bet At vs. Chocoladefabriken Lindt Spruengli |
| Oxford Technology vs. Leroy Seafood Group | Oxford Technology vs. STMicroelectronics NV | Oxford Technology vs. Axfood AB | Oxford Technology vs. Molson Coors Beverage |
Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the ETFs module to find actively traded Exchange Traded Funds (ETF) from around the world.
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