Correlation Between CCSB Financial and Oregon Pacific
Can any of the company-specific risk be diversified away by investing in both CCSB Financial and Oregon Pacific 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 CCSB Financial and Oregon Pacific into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between CCSB Financial Corp and Oregon Pacific Bancorp, you can compare the effects of market volatilities on CCSB Financial and Oregon Pacific 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 CCSB Financial with a short position of Oregon Pacific. Check out your portfolio center. Please also check ongoing floating volatility patterns of CCSB Financial and Oregon Pacific.
Diversification Opportunities for CCSB Financial and Oregon Pacific
-0.27 | Correlation Coefficient |
Very good diversification
The 3 months correlation between CCSB and Oregon is -0.27. Overlapping area represents the amount of risk that can be diversified away by holding CCSB Financial Corp and Oregon Pacific Bancorp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Oregon Pacific Bancorp and CCSB 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 CCSB Financial Corp are associated (or correlated) with Oregon Pacific. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Oregon Pacific Bancorp has no effect on the direction of CCSB Financial i.e., CCSB Financial and Oregon Pacific go up and down completely randomly.
Pair Corralation between CCSB Financial and Oregon Pacific
Given the investment horizon of 90 days CCSB Financial Corp is expected to under-perform the Oregon Pacific. In addition to that, CCSB Financial is 1.29 times more volatile than Oregon Pacific Bancorp. It trades about 0.0 of its total potential returns per unit of risk. Oregon Pacific Bancorp is currently generating about 0.01 per unit of volatility. If you would invest 750.00 in Oregon Pacific Bancorp on September 1, 2024 and sell it today you would earn a total of 26.00 from holding Oregon Pacific Bancorp or generate 3.47% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
CCSB Financial Corp vs. Oregon Pacific Bancorp
Performance |
| Timeline |
| CCSB Financial Corp |
| Oregon Pacific Bancorp |
CCSB Financial and Oregon Pacific Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CCSB Financial and Oregon Pacific
The main advantage of trading using opposite CCSB Financial and Oregon Pacific positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CCSB Financial position performs unexpectedly, Oregon Pacific 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 Oregon Pacific will offset losses from the drop in Oregon Pacific's long position.| CCSB Financial vs. RCI Hospitality Holdings | CCSB Financial vs. SL Green Realty | CCSB Financial vs. JBG SMITH Properties | CCSB Financial vs. Addus HomeCare |
| Oregon Pacific vs. 1ST SUMMIT BANCORP | Oregon Pacific vs. Apollo Bancorp | Oregon Pacific vs. The Farmers Bank | Oregon Pacific vs. Old National 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 Balance Of Power module to check stock momentum by analyzing Balance Of Power indicator and other technical ratios.
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