Correlation Between Omega Healthcare and 1011778
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By analyzing existing cross correlation between Omega Healthcare Investors and 1011778 BC 4375, you can compare the effects of market volatilities on Omega Healthcare and 1011778 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 Omega Healthcare with a short position of 1011778. Check out your portfolio center. Please also check ongoing floating volatility patterns of Omega Healthcare and 1011778.
Diversification Opportunities for Omega Healthcare and 1011778
-0.1 | Correlation Coefficient |
Good diversification
The 3 months correlation between Omega and 1011778 is -0.1. Overlapping area represents the amount of risk that can be diversified away by holding Omega Healthcare Investors and 1011778 BC 4375 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on 1011778 BC 4375 and Omega Healthcare 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 Omega Healthcare Investors are associated (or correlated) with 1011778. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of 1011778 BC 4375 has no effect on the direction of Omega Healthcare i.e., Omega Healthcare and 1011778 go up and down completely randomly.
Pair Corralation between Omega Healthcare and 1011778
Considering the 90-day investment horizon Omega Healthcare Investors is expected to generate 1.45 times more return on investment than 1011778. However, Omega Healthcare is 1.45 times more volatile than 1011778 BC 4375. It trades about 0.04 of its potential returns per unit of risk. 1011778 BC 4375 is currently generating about -0.26 per unit of risk. If you would invest 4,004 in Omega Healthcare Investors on August 31, 2024 and sell it today you would earn a total of 63.00 from holding Omega Healthcare Investors or generate 1.57% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 84.09% |
| Values | Daily Returns |
Omega Healthcare Investors vs. 1011778 BC 4375
Performance |
| Timeline |
| Omega Healthcare Inv |
| 1011778 BC 4375 |
Omega Healthcare and 1011778 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Omega Healthcare and 1011778
The main advantage of trading using opposite Omega Healthcare and 1011778 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Omega Healthcare position performs unexpectedly, 1011778 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 1011778 will offset losses from the drop in 1011778's long position.| Omega Healthcare vs. LTC Properties | Omega Healthcare vs. Healthpeak Properties | Omega Healthcare vs. Global Medical REIT | Omega Healthcare vs. Sabra Healthcare REIT |
| 1011778 vs. AEP TEX INC | 1011778 vs. US BANK NATIONAL | 1011778 vs. FactSet Research Systems | 1011778 vs. Golden Agri Resources |
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 Bollinger Bands module to use Bollinger Bands indicator to analyze target price for a given investing horizon.
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