Correlation Between Oconee Federal and Citizens Bancorp
Can any of the company-specific risk be diversified away by investing in both Oconee Federal and Citizens Bancorp 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 Oconee Federal and Citizens Bancorp into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Oconee Federal Financial and Citizens Bancorp Investment, you can compare the effects of market volatilities on Oconee Federal and Citizens Bancorp 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 Oconee Federal with a short position of Citizens Bancorp. Check out your portfolio center. Please also check ongoing floating volatility patterns of Oconee Federal and Citizens Bancorp.
Diversification Opportunities for Oconee Federal and Citizens Bancorp
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Oconee and Citizens is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Oconee Federal Financial and Citizens Bancorp Investment in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Citizens Bancorp Inv and Oconee Federal 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 Oconee Federal Financial are associated (or correlated) with Citizens Bancorp. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Citizens Bancorp Inv has no effect on the direction of Oconee Federal i.e., Oconee Federal and Citizens Bancorp go up and down completely randomly.
Pair Corralation between Oconee Federal and Citizens Bancorp
If you would invest 2,900 in Citizens Bancorp Investment on December 1, 2024 and sell it today you would earn a total of 0.00 from holding Citizens Bancorp Investment or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Oconee Federal Financial vs. Citizens Bancorp Investment
Performance |
| Timeline |
| Oconee Federal Financial |
Risk-Adjusted Performance
Very Weak
Weak | Strong |
| Citizens Bancorp Inv |
Oconee Federal and Citizens Bancorp Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Oconee Federal and Citizens Bancorp
The main advantage of trading using opposite Oconee Federal and Citizens Bancorp positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Oconee Federal position performs unexpectedly, Citizens Bancorp 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 Citizens Bancorp will offset losses from the drop in Citizens Bancorp's long position.| Oconee Federal vs. Home Federal Bancorp | Oconee Federal vs. Community West Bancshares | Oconee Federal vs. Magyar Bancorp |
| Citizens Bancorp vs. Greenville Federal Financial | Citizens Bancorp vs. First Ottawa Bancshares | Citizens Bancorp vs. Coastal Carolina Bancshares | Citizens Bancorp vs. First Bankers Trustshares |
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 Portfolio Holdings module to check your current holdings and cash postion to detemine if your portfolio needs rebalancing.
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