Correlation Between CBH and Oxford Lane
Can any of the company-specific risk be diversified away by investing in both CBH and Oxford Lane 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 CBH and Oxford Lane into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between CBH and Oxford Lane Capital, you can compare the effects of market volatilities on CBH and Oxford Lane 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 CBH with a short position of Oxford Lane. Check out your portfolio center. Please also check ongoing floating volatility patterns of CBH and Oxford Lane.
Diversification Opportunities for CBH and Oxford Lane
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between CBH and Oxford is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding CBH and Oxford Lane Capital in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Oxford Lane Capital and CBH 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 CBH are associated (or correlated) with Oxford Lane. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Oxford Lane Capital has no effect on the direction of CBH i.e., CBH and Oxford Lane go up and down completely randomly.
Pair Corralation between CBH and Oxford Lane
If you would invest 419.00 in Oxford Lane Capital on November 9, 2024 and sell it today you would earn a total of 96.00 from holding Oxford Lane Capital or generate 22.91% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
CBH vs. Oxford Lane Capital
Performance |
| Timeline |
| CBH |
Risk-Adjusted Performance
Very Weak
Weak | Strong |
| Oxford Lane Capital |
CBH and Oxford Lane Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CBH and Oxford Lane
The main advantage of trading using opposite CBH and Oxford Lane positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CBH position performs unexpectedly, Oxford Lane 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 Lane will offset losses from the drop in Oxford Lane's long position.| CBH vs. Eaton Vance National | CBH vs. Blackrock Muniholdings Ny | CBH vs. Nuveen California Select | CBH vs. MFS Investment Grade |
| Oxford Lane vs. Capital Southwest | Oxford Lane vs. XAI Octagon Floating | Oxford Lane vs. Cornerstone Strategic Return | Oxford Lane vs. Cornerstone Strategic Value |
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 Correlation Analysis module to reduce portfolio risk simply by holding instruments which are not perfectly correlated.
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