Correlation Between Kish Bancorp and Oregon Pacific
Can any of the company-specific risk be diversified away by investing in both Kish Bancorp 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 Kish Bancorp and Oregon Pacific into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Kish Bancorp and Oregon Pacific Bancorp, you can compare the effects of market volatilities on Kish Bancorp 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 Kish Bancorp with a short position of Oregon Pacific. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kish Bancorp and Oregon Pacific.
Diversification Opportunities for Kish Bancorp and Oregon Pacific
0.11 | Correlation Coefficient |
Average diversification
The 3 months correlation between Kish and Oregon is 0.11. Overlapping area represents the amount of risk that can be diversified away by holding Kish Bancorp 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 Kish Bancorp 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 Kish Bancorp 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 Kish Bancorp i.e., Kish Bancorp and Oregon Pacific go up and down completely randomly.
Pair Corralation between Kish Bancorp and Oregon Pacific
Given the investment horizon of 90 days Kish Bancorp is expected to generate 1.12 times more return on investment than Oregon Pacific. However, Kish Bancorp is 1.12 times more volatile than Oregon Pacific Bancorp. It trades about 0.11 of its potential returns per unit of risk. Oregon Pacific Bancorp is currently generating about 0.01 per unit of risk. If you would invest 3,413 in Kish Bancorp on November 3, 2024 and sell it today you would earn a total of 87.00 from holding Kish Bancorp or generate 2.55% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Kish Bancorp vs. Oregon Pacific Bancorp
Performance |
| Timeline |
| Kish Bancorp |
| Oregon Pacific Bancorp |
Kish Bancorp and Oregon Pacific Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Kish Bancorp and Oregon Pacific
The main advantage of trading using opposite Kish Bancorp and Oregon Pacific positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kish Bancorp 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.| Kish Bancorp vs. CNB Corporation | Kish Bancorp vs. FNB Inc | Kish Bancorp vs. Community Bankers | Kish Bancorp vs. Apollo Bancorp |
| 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 Share Portfolio module to track or share privately all of your investments from the convenience of any device.
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