Correlation Between BOK Financial and Oconee Federal
Can any of the company-specific risk be diversified away by investing in both BOK Financial and Oconee Federal 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 BOK Financial and Oconee Federal into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between BOK Financial and Oconee Federal Financial, you can compare the effects of market volatilities on BOK Financial and Oconee Federal 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 BOK Financial with a short position of Oconee Federal. Check out your portfolio center. Please also check ongoing floating volatility patterns of BOK Financial and Oconee Federal.
Diversification Opportunities for BOK Financial and Oconee Federal
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between BOK and Oconee is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding BOK Financial and Oconee Federal Financial in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Oconee Federal Financial and BOK Financial 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 BOK Financial are associated (or correlated) with Oconee Federal. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Oconee Federal Financial has no effect on the direction of BOK Financial i.e., BOK Financial and Oconee Federal go up and down completely randomly.
Pair Corralation between BOK Financial and Oconee Federal
If you would invest (100.00) in Oconee Federal Financial on November 27, 2024 and sell it today you would earn a total of 100.00 from holding Oconee Federal Financial or generate -100.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
BOK Financial vs. Oconee Federal Financial
Performance |
| Timeline |
| BOK Financial |
| Oconee Federal Financial |
Risk-Adjusted Performance
Very Weak
Weak | Strong |
BOK Financial and Oconee Federal Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with BOK Financial and Oconee Federal
The main advantage of trading using opposite BOK Financial and Oconee Federal positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if BOK Financial position performs unexpectedly, Oconee Federal 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 Oconee Federal will offset losses from the drop in Oconee Federal's long position.| BOK Financial vs. First Financial Bankshares | BOK Financial vs. Auburn National Bancorporation | BOK Financial vs. Great Southern Bancorp | BOK Financial vs. First Guaranty Bancshares |
| Oconee Federal vs. Home Federal Bancorp | Oconee Federal vs. Community West Bancshares | Oconee Federal vs. Magyar Bancorp |
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 Commodity Channel module to use Commodity Channel Index to analyze current equity momentum.
Other Complementary Tools
| FinTech Suite Use AI to screen and filter profitable investment opportunities | |
| USA ETFs Find actively traded Exchange Traded Funds (ETF) in USA | |
| Performance Analysis Check effects of mean-variance optimization against your current asset allocation | |
| Insider Screener Find insiders across different sectors to evaluate their impact on performance | |
| Commodity Channel Use Commodity Channel Index to analyze current equity momentum |