Correlation Between Olympia Financial and SPTSX Dividend
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By analyzing existing cross correlation between Olympia Financial Group and SPTSX Dividend Aristocrats, you can compare the effects of market volatilities on Olympia Financial and SPTSX Dividend 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 Olympia Financial with a short position of SPTSX Dividend. Check out your portfolio center. Please also check ongoing floating volatility patterns of Olympia Financial and SPTSX Dividend.
Diversification Opportunities for Olympia Financial and SPTSX Dividend
0.29 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Olympia and SPTSX is 0.29. Overlapping area represents the amount of risk that can be diversified away by holding Olympia Financial Group and SPTSX Dividend Aristocrats in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SPTSX Dividend Arist and Olympia Financial 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 Olympia Financial Group are associated (or correlated) with SPTSX Dividend. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SPTSX Dividend Arist has no effect on the direction of Olympia Financial i.e., Olympia Financial and SPTSX Dividend go up and down completely randomly.
Pair Corralation between Olympia Financial and SPTSX Dividend
Assuming the 90 days trading horizon Olympia Financial Group is expected to generate 3.18 times more return on investment than SPTSX Dividend. However, Olympia Financial is 3.18 times more volatile than SPTSX Dividend Aristocrats. It trades about 0.17 of its potential returns per unit of risk. SPTSX Dividend Aristocrats is currently generating about -0.1 per unit of risk. If you would invest 10,268 in Olympia Financial Group on September 15, 2024 and sell it today you would earn a total of 432.00 from holding Olympia Financial Group or generate 4.21% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Olympia Financial Group vs. SPTSX Dividend Aristocrats
Performance |
| Timeline |
Olympia Financial and SPTSX Dividend Volatility Contrast
Predicted Return Density |
| Returns |
Olympia Financial Group
Pair trading matchups for Olympia Financial
SPTSX Dividend Aristocrats
Pair trading matchups for SPTSX Dividend
Pair Trading with Olympia Financial and SPTSX Dividend
The main advantage of trading using opposite Olympia Financial and SPTSX Dividend positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Olympia Financial position performs unexpectedly, SPTSX Dividend 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 SPTSX Dividend will offset losses from the drop in SPTSX Dividend's long position.| Olympia Financial vs. Berkshire Hathaway CDR | Olympia Financial vs. E L Financial Corp | Olympia Financial vs. E L Financial 3 | Olympia Financial vs. Molson Coors Canada |
| SPTSX Dividend vs. Olympia Financial Group | SPTSX Dividend vs. Computer Modelling Group | SPTSX Dividend vs. iA Financial | SPTSX Dividend vs. Canadian Imperial Bank |
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 Balance Of Power module to check stock momentum by analyzing Balance Of Power indicator and other technical ratios.
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