Correlation Between OppFi and SOLEIN
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By analyzing existing cross correlation between OppFi Inc and SOLEIN 7125 01 OCT 27, you can compare the effects of market volatilities on OppFi and SOLEIN 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 OppFi with a short position of SOLEIN. Check out your portfolio center. Please also check ongoing floating volatility patterns of OppFi and SOLEIN.
Diversification Opportunities for OppFi and SOLEIN
Very good diversification
The 3 months correlation between OppFi and SOLEIN is -0.49. Overlapping area represents the amount of risk that can be diversified away by holding OppFi Inc and SOLEIN 7125 01 OCT 27 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SOLEIN 7125 01 and OppFi 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 OppFi Inc are associated (or correlated) with SOLEIN. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SOLEIN 7125 01 has no effect on the direction of OppFi i.e., OppFi and SOLEIN go up and down completely randomly.
Pair Corralation between OppFi and SOLEIN
Given the investment horizon of 90 days OppFi Inc is expected to generate 13.56 times more return on investment than SOLEIN. However, OppFi is 13.56 times more volatile than SOLEIN 7125 01 OCT 27. It trades about 0.28 of its potential returns per unit of risk. SOLEIN 7125 01 OCT 27 is currently generating about -0.18 per unit of risk. If you would invest 773.00 in OppFi Inc on November 4, 2024 and sell it today you would earn a total of 598.00 from holding OppFi Inc or generate 77.36% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 52.5% |
| Values | Daily Returns |
OppFi Inc vs. SOLEIN 7125 01 OCT 27
Performance |
| Timeline |
| OppFi Inc |
| SOLEIN 7125 01 |
OppFi and SOLEIN Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with OppFi and SOLEIN
The main advantage of trading using opposite OppFi and SOLEIN positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if OppFi position performs unexpectedly, SOLEIN 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 SOLEIN will offset losses from the drop in SOLEIN's long position.The idea behind OppFi Inc and SOLEIN 7125 01 OCT 27 pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.| SOLEIN vs. Corsair Gaming | SOLEIN vs. Victorias Secret Co | SOLEIN vs. Skechers USA | SOLEIN vs. Corporacion America Airports |
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 Comparator module to compare the composition, asset allocations and performance of any two portfolios in your account.
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