Correlation Between Ohmyhome Limited and CBL Associates
Can any of the company-specific risk be diversified away by investing in both Ohmyhome Limited and CBL Associates 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 Ohmyhome Limited and CBL Associates into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Ohmyhome Limited Ordinary and CBL Associates Properties, you can compare the effects of market volatilities on Ohmyhome Limited and CBL Associates 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 Ohmyhome Limited with a short position of CBL Associates. Check out your portfolio center. Please also check ongoing floating volatility patterns of Ohmyhome Limited and CBL Associates.
Diversification Opportunities for Ohmyhome Limited and CBL Associates
-0.57 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Ohmyhome and CBL is -0.57. Overlapping area represents the amount of risk that can be diversified away by holding Ohmyhome Limited Ordinary and CBL Associates Properties in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CBL Associates Properties and Ohmyhome Limited 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 Ohmyhome Limited Ordinary are associated (or correlated) with CBL Associates. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CBL Associates Properties has no effect on the direction of Ohmyhome Limited i.e., Ohmyhome Limited and CBL Associates go up and down completely randomly.
Pair Corralation between Ohmyhome Limited and CBL Associates
Considering the 90-day investment horizon Ohmyhome Limited Ordinary is expected to generate 5.47 times more return on investment than CBL Associates. However, Ohmyhome Limited is 5.47 times more volatile than CBL Associates Properties. It trades about 0.12 of its potential returns per unit of risk. CBL Associates Properties is currently generating about 0.63 per unit of risk. If you would invest 34.00 in Ohmyhome Limited Ordinary on September 2, 2024 and sell it today you would earn a total of 5.00 from holding Ohmyhome Limited Ordinary or generate 14.71% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Ohmyhome Limited Ordinary vs. CBL Associates Properties
Performance |
| Timeline |
| Ohmyhome Limited Ordinary |
| CBL Associates Properties |
Ohmyhome Limited and CBL Associates Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Ohmyhome Limited and CBL Associates
The main advantage of trading using opposite Ohmyhome Limited and CBL Associates positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Ohmyhome Limited position performs unexpectedly, CBL Associates 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 CBL Associates will offset losses from the drop in CBL Associates' long position.| Ohmyhome Limited vs. MDJM | Ohmyhome Limited vs. Fangdd Network Group | Ohmyhome Limited vs. Ucommune International | Ohmyhome Limited vs. Redfin Corp |
| CBL Associates vs. Kite Realty Group | CBL Associates vs. Site Centers Corp | CBL Associates vs. Urban Edge Properties | CBL Associates vs. Acadia Realty Trust |
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 Content Syndication module to quickly integrate customizable finance content to your own investment portal.
Other Complementary Tools
| Funds Screener Find actively-traded funds from around the world traded on over 30 global exchanges | |
| Equity Search Search for actively traded equities including funds and ETFs from over 30 global markets | |
| CEOs Directory Screen CEOs from public companies around the world | |
| Money Managers Screen money managers from public funds and ETFs managed around the world | |
| Odds Of Bankruptcy Get analysis of equity chance of financial distress in the next 2 years |