Correlation Between Live Oak and Aristotle Funds
Can any of the company-specific risk be diversified away by investing in both Live Oak and Aristotle Funds 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 Live Oak and Aristotle Funds into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Live Oak Health and Aristotle Funds Series, you can compare the effects of market volatilities on Live Oak and Aristotle Funds 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 Live Oak with a short position of Aristotle Funds. Check out your portfolio center. Please also check ongoing floating volatility patterns of Live Oak and Aristotle Funds.
Diversification Opportunities for Live Oak and Aristotle Funds
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Live and Aristotle is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Live Oak Health and Aristotle Funds Series in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Aristotle Funds Series and Live Oak 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 Live Oak Health are associated (or correlated) with Aristotle Funds. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Aristotle Funds Series has no effect on the direction of Live Oak i.e., Live Oak and Aristotle Funds go up and down completely randomly.
Pair Corralation between Live Oak and Aristotle Funds
If you would invest 2,162 in Live Oak Health on September 5, 2024 and sell it today you would earn a total of 37.00 from holding Live Oak Health or generate 1.71% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.2% |
| Values | Daily Returns |
Live Oak Health vs. Aristotle Funds Series
Performance |
| Timeline |
| Live Oak Health |
| Aristotle Funds Series |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Solid
Live Oak and Aristotle Funds Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Live Oak and Aristotle Funds
The main advantage of trading using opposite Live Oak and Aristotle Funds positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Live Oak position performs unexpectedly, Aristotle Funds 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 Aristotle Funds will offset losses from the drop in Aristotle Funds' long position.| Live Oak vs. Black Oak Emerging | Live Oak vs. Pin Oak Equity | Live Oak vs. Red Oak Technology | Live Oak vs. White Oak Select |
| Aristotle Funds vs. Aristotle Funds Series | Aristotle Funds vs. Aristotle Funds Series | Aristotle Funds vs. Aristotle Funds Series | Aristotle Funds vs. Aristotle International Eq |
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 Fundamentals Comparison module to compare fundamentals across multiple equities to find investing opportunities.
Other Complementary Tools
| CEOs Directory Screen CEOs from public companies around the world | |
| Stock Tickers Use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites | |
| Investing Opportunities Build portfolios using our predefined set of ideas and optimize them against your investing preferences | |
| Global Correlations Find global opportunities by holding instruments from different markets | |
| Portfolio Rebalancing Analyze risk-adjusted returns against different time horizons to find asset-allocation targets |