Correlation Between Oasis Hotel and EXELON
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By analyzing existing cross correlation between Oasis Hotel Resort and EXELON GENERATION LLC, you can compare the effects of market volatilities on Oasis Hotel and EXELON 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 EXELON. Check out your portfolio center. Please also check ongoing floating volatility patterns of Oasis Hotel and EXELON.
Diversification Opportunities for Oasis Hotel and EXELON
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Oasis and EXELON is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Oasis Hotel Resort and EXELON GENERATION LLC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on EXELON GENERATION LLC 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 EXELON. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of EXELON GENERATION LLC has no effect on the direction of Oasis Hotel i.e., Oasis Hotel and EXELON go up and down completely randomly.
Pair Corralation between Oasis Hotel and EXELON
Given the investment horizon of 90 days Oasis Hotel Resort is expected to under-perform the EXELON. In addition to that, Oasis Hotel is 3.32 times more volatile than EXELON GENERATION LLC. It trades about -0.04 of its total potential returns per unit of risk. EXELON GENERATION LLC is currently generating about 0.0 per unit of volatility. If you would invest 10,282 in EXELON GENERATION LLC on August 28, 2024 and sell it today you would lose (229.00) from holding EXELON GENERATION LLC or give up 2.23% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 89.9% |
| Values | Daily Returns |
Oasis Hotel Resort vs. EXELON GENERATION LLC
Performance |
| Timeline |
| Oasis Hotel Resort |
| EXELON GENERATION LLC |
Oasis Hotel and EXELON Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Oasis Hotel and EXELON
The main advantage of trading using opposite Oasis Hotel and EXELON positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Oasis Hotel position performs unexpectedly, EXELON 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 EXELON will offset losses from the drop in EXELON's long position.| Oasis Hotel vs. Porvair plc | Oasis Hotel vs. Nike Inc | Oasis Hotel vs. Boot Barn Holdings | Oasis Hotel vs. Duluth Holdings |
| EXELON vs. AEP TEX INC | EXELON vs. US BANK NATIONAL | EXELON vs. Dupont De Nemours | EXELON vs. The Travelers Companies |
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 Rebalancing module to analyze risk-adjusted returns against different time horizons to find asset-allocation targets.
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