Correlation Between Owl Rock and Runway Growth
Can any of the company-specific risk be diversified away by investing in both Owl Rock and Runway Growth 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 Owl Rock and Runway Growth into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Owl Rock Capital and Runway Growth Finance, you can compare the effects of market volatilities on Owl Rock and Runway Growth 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 Owl Rock with a short position of Runway Growth. Check out your portfolio center. Please also check ongoing floating volatility patterns of Owl Rock and Runway Growth.
Diversification Opportunities for Owl Rock and Runway Growth
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Owl and Runway is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Owl Rock Capital and Runway Growth Finance in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Runway Growth Finance and Owl Rock 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 Owl Rock Capital are associated (or correlated) with Runway Growth. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Runway Growth Finance has no effect on the direction of Owl Rock i.e., Owl Rock and Runway Growth go up and down completely randomly.
Pair Corralation between Owl Rock and Runway Growth
If you would invest 1,143 in Runway Growth Finance on November 27, 2024 and sell it today you would earn a total of 6.00 from holding Runway Growth Finance or generate 0.52% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Owl Rock Capital vs. Runway Growth Finance
Performance |
| Timeline |
| Owl Rock Capital |
Risk-Adjusted Performance
Very Weak
Weak | Strong |
| Runway Growth Finance |
Owl Rock and Runway Growth Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Owl Rock and Runway Growth
The main advantage of trading using opposite Owl Rock and Runway Growth positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Owl Rock position performs unexpectedly, Runway Growth 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 Runway Growth will offset losses from the drop in Runway Growth's long position.| Owl Rock vs. Barings BDC | Owl Rock vs. Runway Growth Finance | Owl Rock vs. OneMain Holdings | Owl Rock vs. Navient Corp |
| Runway Growth vs. Barings BDC | Runway Growth vs. OneMain Holdings | Runway Growth vs. Navient Corp | Runway Growth vs. Federal Agricultural Mortgage |
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 Equity Forecasting module to use basic forecasting models to generate price predictions and determine price momentum.
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