Correlation Between Loomis Sayles and ONCOR
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By analyzing existing cross correlation between Loomis Sayles International and ONCOR ELEC DELIVERY, you can compare the effects of market volatilities on Loomis Sayles and ONCOR 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 Loomis Sayles with a short position of ONCOR. Check out your portfolio center. Please also check ongoing floating volatility patterns of Loomis Sayles and ONCOR.
Diversification Opportunities for Loomis Sayles and ONCOR
-0.38 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Loomis and ONCOR is -0.38. Overlapping area represents the amount of risk that can be diversified away by holding Loomis Sayles International and ONCOR ELEC DELIVERY in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on ONCOR ELEC DELIVERY and Loomis Sayles 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 Loomis Sayles International are associated (or correlated) with ONCOR. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ONCOR ELEC DELIVERY has no effect on the direction of Loomis Sayles i.e., Loomis Sayles and ONCOR go up and down completely randomly.
Pair Corralation between Loomis Sayles and ONCOR
Assuming the 90 days horizon Loomis Sayles International is expected to generate 3.17 times more return on investment than ONCOR. However, Loomis Sayles is 3.17 times more volatile than ONCOR ELEC DELIVERY. It trades about 0.08 of its potential returns per unit of risk. ONCOR ELEC DELIVERY is currently generating about 0.0 per unit of risk. If you would invest 992.00 in Loomis Sayles International on September 1, 2024 and sell it today you would earn a total of 113.00 from holding Loomis Sayles International or generate 11.39% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 96.83% |
| Values | Daily Returns |
Loomis Sayles International vs. ONCOR ELEC DELIVERY
Performance |
| Timeline |
| Loomis Sayles Intern |
| ONCOR ELEC DELIVERY |
Loomis Sayles and ONCOR Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Loomis Sayles and ONCOR
The main advantage of trading using opposite Loomis Sayles and ONCOR positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Loomis Sayles position performs unexpectedly, ONCOR 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 ONCOR will offset losses from the drop in ONCOR's long position.| Loomis Sayles vs. Asg Managed Futures | Loomis Sayles vs. Asg Managed Futures | Loomis Sayles vs. Natixis Oakmark | Loomis Sayles vs. Natixis Oakmark International |
| ONCOR vs. AEP TEX INC | ONCOR vs. US BANK NATIONAL | ONCOR vs. International Business Machines | ONCOR vs. Intel |
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 Instant Ratings module to determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance.
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