Correlation Between Oculis Holding and Reginn Hf
Can any of the company-specific risk be diversified away by investing in both Oculis Holding and Reginn Hf 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 Oculis Holding and Reginn Hf into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Oculis Holding AG and Reginn Hf, you can compare the effects of market volatilities on Oculis Holding and Reginn Hf 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 Oculis Holding with a short position of Reginn Hf. Check out your portfolio center. Please also check ongoing floating volatility patterns of Oculis Holding and Reginn Hf.
Diversification Opportunities for Oculis Holding and Reginn Hf
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Oculis and Reginn is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Oculis Holding AG and Reginn Hf in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Reginn Hf and Oculis Holding 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 Oculis Holding AG are associated (or correlated) with Reginn Hf. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Reginn Hf has no effect on the direction of Oculis Holding i.e., Oculis Holding and Reginn Hf go up and down completely randomly.
Pair Corralation between Oculis Holding and Reginn Hf
If you would invest 169,000 in Oculis Holding AG on September 1, 2024 and sell it today you would earn a total of 55,000 from holding Oculis Holding AG or generate 32.54% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Oculis Holding AG vs. Reginn Hf
Performance |
| Timeline |
| Oculis Holding AG |
| Reginn Hf |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Oculis Holding and Reginn Hf Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Oculis Holding and Reginn Hf
The main advantage of trading using opposite Oculis Holding and Reginn Hf positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Oculis Holding position performs unexpectedly, Reginn Hf 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 Reginn Hf will offset losses from the drop in Reginn Hf's long position.| Oculis Holding vs. Alvotech | Oculis Holding vs. Kvika banki hf | Oculis Holding vs. Arion banki hf | Oculis Holding vs. Iceland Seafood International |
| Reginn Hf vs. Alvotech | Reginn Hf vs. slandsbanki hf | Reginn Hf vs. Iceland Seafood International | Reginn Hf vs. Kvika banki hf |
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 Volatility Analysis module to get historical volatility and risk analysis based on latest market data.
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