Correlation Between Oasis Hotel and Barings BDC
Can any of the company-specific risk be diversified away by investing in both Oasis Hotel and Barings BDC 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 Oasis Hotel and Barings BDC into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Oasis Hotel Resort and Barings BDC, you can compare the effects of market volatilities on Oasis Hotel and Barings BDC 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 Oasis Hotel with a short position of Barings BDC. Check out your portfolio center. Please also check ongoing floating volatility patterns of Oasis Hotel and Barings BDC.
Diversification Opportunities for Oasis Hotel and Barings BDC
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Oasis and Barings is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Oasis Hotel Resort and Barings BDC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Barings BDC and Oasis Hotel 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 Oasis Hotel Resort are associated (or correlated) with Barings BDC. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Barings BDC has no effect on the direction of Oasis Hotel i.e., Oasis Hotel and Barings BDC go up and down completely randomly.
Pair Corralation between Oasis Hotel and Barings BDC
If you would invest 967.00 in Barings BDC on November 2, 2024 and sell it today you would earn a total of 27.00 from holding Barings BDC or generate 2.79% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Oasis Hotel Resort vs. Barings BDC
Performance |
| Timeline |
| Oasis Hotel Resort |
| Barings BDC |
Oasis Hotel and Barings BDC Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Oasis Hotel and Barings BDC
The main advantage of trading using opposite Oasis Hotel and Barings BDC positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Oasis Hotel position performs unexpectedly, Barings BDC 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 Barings BDC will offset losses from the drop in Barings BDC's long position.| Oasis Hotel vs. Palomar Holdings | Oasis Hotel vs. Life Insurance | Oasis Hotel vs. Sun Life Financial | Oasis Hotel vs. MGIC Investment Corp |
| Barings BDC vs. Runway Growth Finance | Barings BDC vs. OneMain Holdings | Barings BDC vs. Navient Corp | Barings BDC vs. Oaktree Specialty Lending |
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 FinTech Suite module to use AI to screen and filter profitable investment opportunities.
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