Correlation Between Oracle and B Riley
Can any of the company-specific risk be diversified away by investing in both Oracle and B Riley 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 Oracle and B Riley into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Oracle and B Riley Financial, you can compare the effects of market volatilities on Oracle and B Riley 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 Oracle with a short position of B Riley. Check out your portfolio center. Please also check ongoing floating volatility patterns of Oracle and B Riley.
Diversification Opportunities for Oracle and B Riley
Pay attention - limited upside
The 3 months correlation between Oracle and RILYO is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Oracle and B Riley Financial in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on B Riley Financial and Oracle 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 Oracle are associated (or correlated) with B Riley. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of B Riley Financial has no effect on the direction of Oracle i.e., Oracle and B Riley go up and down completely randomly.
Pair Corralation between Oracle and B Riley
If you would invest 17,197 in Oracle on October 26, 2024 and sell it today you would earn a total of 1,225 from holding Oracle or generate 7.12% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 1.69% |
| Values | Daily Returns |
Oracle vs. B Riley Financial
Performance |
| Timeline |
| Oracle |
| B Riley Financial |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Oracle and B Riley Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Oracle and B Riley
The main advantage of trading using opposite Oracle and B Riley positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Oracle position performs unexpectedly, B Riley 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 B Riley will offset losses from the drop in B Riley's long position.| Oracle vs. Palo Alto Networks | Oracle vs. Crowdstrike Holdings | Oracle vs. Microsoft | Oracle vs. BLOCK INC |
| B Riley vs. B Riley Financial | B Riley vs. B Riley Financial | B Riley vs. B Riley Financial, | B Riley vs. B Riley Financial |
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 Options Analysis module to analyze and evaluate options and option chains as a potential hedge for your portfolios.
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