Correlation Between Eagle Pointome and Oxford Square
Can any of the company-specific risk be diversified away by investing in both Eagle Pointome and Oxford Square 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 Eagle Pointome and Oxford Square into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Eagle Pointome and Oxford Square Capital, you can compare the effects of market volatilities on Eagle Pointome and Oxford Square 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 Eagle Pointome with a short position of Oxford Square. Check out your portfolio center. Please also check ongoing floating volatility patterns of Eagle Pointome and Oxford Square.
Diversification Opportunities for Eagle Pointome and Oxford Square
0.66 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Eagle and Oxford is 0.66. Overlapping area represents the amount of risk that can be diversified away by holding Eagle Pointome and Oxford Square Capital in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Oxford Square Capital and Eagle Pointome 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 Eagle Pointome are associated (or correlated) with Oxford Square. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Oxford Square Capital has no effect on the direction of Eagle Pointome i.e., Eagle Pointome and Oxford Square go up and down completely randomly.
Pair Corralation between Eagle Pointome and Oxford Square
Considering the 90-day investment horizon Eagle Pointome is expected to generate 1.03 times more return on investment than Oxford Square. However, Eagle Pointome is 1.03 times more volatile than Oxford Square Capital. It trades about 0.01 of its potential returns per unit of risk. Oxford Square Capital is currently generating about -0.04 per unit of risk. If you would invest 1,373 in Eagle Pointome on January 10, 2025 and sell it today you would earn a total of 25.00 from holding Eagle Pointome or generate 1.82% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Eagle Pointome vs. Oxford Square Capital
Performance |
| Timeline |
| Eagle Pointome |
| Oxford Square Capital |
Eagle Pointome and Oxford Square Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Eagle Pointome and Oxford Square
The main advantage of trading using opposite Eagle Pointome and Oxford Square positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Eagle Pointome position performs unexpectedly, Oxford Square 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 Square will offset losses from the drop in Oxford Square's long position.| Eagle Pointome vs. XAI Octagon Floating | Eagle Pointome vs. Eagle Point Credit | Eagle Pointome vs. Ares Dynamic Credit | Eagle Pointome vs. Kkr Income Opportunities |
| Oxford Square vs. Eagle Point Credit | Oxford Square vs. Cornerstone Strategic Return | Oxford Square vs. Cornerstone Strategic Value | Oxford Square vs. Guggenheim Strategic Opportunities |
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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