Correlation Between Brinker International and Osiris Acquisition
Can any of the company-specific risk be diversified away by investing in both Brinker International and Osiris Acquisition 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 Brinker International and Osiris Acquisition into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Brinker International and Osiris Acquisition Corp, you can compare the effects of market volatilities on Brinker International and Osiris Acquisition 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 Brinker International with a short position of Osiris Acquisition. Check out your portfolio center. Please also check ongoing floating volatility patterns of Brinker International and Osiris Acquisition.
Diversification Opportunities for Brinker International and Osiris Acquisition
0.81 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Brinker and Osiris is 0.81. Overlapping area represents the amount of risk that can be diversified away by holding Brinker International and Osiris Acquisition Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Osiris Acquisition Corp and Brinker International 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 Brinker International are associated (or correlated) with Osiris Acquisition. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Osiris Acquisition Corp has no effect on the direction of Brinker International i.e., Brinker International and Osiris Acquisition go up and down completely randomly.
Pair Corralation between Brinker International and Osiris Acquisition
If you would invest 7,161 in Brinker International on September 1, 2024 and sell it today you would earn a total of 6,066 from holding Brinker International or generate 84.71% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 0.79% |
| Values | Daily Returns |
Brinker International vs. Osiris Acquisition Corp
Performance |
| Timeline |
| Brinker International |
| Osiris Acquisition Corp |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Brinker International and Osiris Acquisition Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Brinker International and Osiris Acquisition
The main advantage of trading using opposite Brinker International and Osiris Acquisition positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Brinker International position performs unexpectedly, Osiris Acquisition 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 Osiris Acquisition will offset losses from the drop in Osiris Acquisition's long position.| Brinker International vs. Dennys Corp | Brinker International vs. Bloomin Brands | Brinker International vs. Jack In The | Brinker International vs. Dine Brands Global |
| Osiris Acquisition vs. Brinker International | Osiris Acquisition vs. Ryan Specialty Group | Osiris Acquisition vs. Ultragenyx | Osiris Acquisition vs. Willscot Mobile Mini |
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 CEOs Directory module to screen CEOs from public companies around the world.
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