Correlation Between Oppenheimer International and Natixis Oakmark
Can any of the company-specific risk be diversified away by investing in both Oppenheimer International and Natixis Oakmark 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 Oppenheimer International and Natixis Oakmark into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Oppenheimer International Diversified and Natixis Oakmark Intl, you can compare the effects of market volatilities on Oppenheimer International and Natixis Oakmark 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 Oppenheimer International with a short position of Natixis Oakmark. Check out your portfolio center. Please also check ongoing floating volatility patterns of Oppenheimer International and Natixis Oakmark.
Diversification Opportunities for Oppenheimer International and Natixis Oakmark
0.94 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Oppenheimer and Natixis is 0.94. Overlapping area represents the amount of risk that can be diversified away by holding Oppenheimer International Dive and Natixis Oakmark Intl in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Natixis Oakmark Intl and Oppenheimer International 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 Oppenheimer International Diversified are associated (or correlated) with Natixis Oakmark. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Natixis Oakmark Intl has no effect on the direction of Oppenheimer International i.e., Oppenheimer International and Natixis Oakmark go up and down completely randomly.
Pair Corralation between Oppenheimer International and Natixis Oakmark
Assuming the 90 days horizon Oppenheimer International Diversified is expected to generate 0.83 times more return on investment than Natixis Oakmark. However, Oppenheimer International Diversified is 1.2 times less risky than Natixis Oakmark. It trades about 0.0 of its potential returns per unit of risk. Natixis Oakmark Intl is currently generating about -0.02 per unit of risk. If you would invest 1,635 in Oppenheimer International Diversified on September 3, 2024 and sell it today you would lose (12.00) from holding Oppenheimer International Diversified or give up 0.73% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Oppenheimer International Dive vs. Natixis Oakmark Intl
Performance |
| Timeline |
| Oppenheimer International |
| Natixis Oakmark Intl |
Oppenheimer International and Natixis Oakmark Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Oppenheimer International and Natixis Oakmark
The main advantage of trading using opposite Oppenheimer International and Natixis Oakmark positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Oppenheimer International position performs unexpectedly, Natixis Oakmark 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 Natixis Oakmark will offset losses from the drop in Natixis Oakmark's long position.| Oppenheimer International vs. Fidelity International Growth | Oppenheimer International vs. Fidelity Small Cap | Oppenheimer International vs. Fidelity Advisor Mid | Oppenheimer International vs. HUMANA INC |
| Natixis Oakmark vs. Adams Diversified Equity | Natixis Oakmark vs. Pgim Conservative Retirement | Natixis Oakmark vs. Oppenheimer International Diversified | Natixis Oakmark vs. Evaluator Conservative Rms |
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 File Import module to quickly import all of your third-party portfolios from your local drive in csv format.
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