Correlation Between Oklo and K92 Mining
Can any of the company-specific risk be diversified away by investing in both Oklo and K92 Mining 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 Oklo and K92 Mining into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Oklo Inc and K92 Mining, you can compare the effects of market volatilities on Oklo and K92 Mining 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 Oklo with a short position of K92 Mining. Check out your portfolio center. Please also check ongoing floating volatility patterns of Oklo and K92 Mining.
Diversification Opportunities for Oklo and K92 Mining
0.69 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Oklo and K92 is 0.69. Overlapping area represents the amount of risk that can be diversified away by holding Oklo Inc and K92 Mining in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on K92 Mining and Oklo 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 Oklo Inc are associated (or correlated) with K92 Mining. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of K92 Mining has no effect on the direction of Oklo i.e., Oklo and K92 Mining go up and down completely randomly.
Pair Corralation between Oklo and K92 Mining
Given the investment horizon of 90 days Oklo Inc is expected to generate 2.07 times more return on investment than K92 Mining. However, Oklo is 2.07 times more volatile than K92 Mining. It trades about 0.07 of its potential returns per unit of risk. K92 Mining is currently generating about 0.02 per unit of risk. If you would invest 1,010 in Oklo Inc on December 1, 2024 and sell it today you would earn a total of 2,329 from holding Oklo Inc or generate 230.59% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Oklo Inc vs. K92 Mining
Performance |
| Timeline |
| Oklo Inc |
| K92 Mining |
Oklo and K92 Mining Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Oklo and K92 Mining
The main advantage of trading using opposite Oklo and K92 Mining positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Oklo position performs unexpectedly, K92 Mining 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 K92 Mining will offset losses from the drop in K92 Mining's long position.| Oklo vs. AMCON Distributing | Oklo vs. Paranovus Entertainment Technology | Oklo vs. BBB Foods | Oklo vs. Gannett Co |
| K92 Mining vs. I 80 Gold Corp | K92 Mining vs. Equinox Gold Corp | K92 Mining vs. Contango ORE | K92 Mining vs. Orla Mining |
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 Premium Stories module to follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope.
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