Correlation Between Oregon Pacific and Peak Bancorp
Can any of the company-specific risk be diversified away by investing in both Oregon Pacific and Peak Bancorp 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 Oregon Pacific and Peak Bancorp into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Oregon Pacific Bancorp and Peak Bancorp, you can compare the effects of market volatilities on Oregon Pacific and Peak Bancorp 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 Oregon Pacific with a short position of Peak Bancorp. Check out your portfolio center. Please also check ongoing floating volatility patterns of Oregon Pacific and Peak Bancorp.
Diversification Opportunities for Oregon Pacific and Peak Bancorp
-0.29 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Oregon and Peak is -0.29. Overlapping area represents the amount of risk that can be diversified away by holding Oregon Pacific Bancorp and Peak Bancorp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Peak Bancorp and Oregon Pacific 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 Oregon Pacific Bancorp are associated (or correlated) with Peak Bancorp. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Peak Bancorp has no effect on the direction of Oregon Pacific i.e., Oregon Pacific and Peak Bancorp go up and down completely randomly.
Pair Corralation between Oregon Pacific and Peak Bancorp
If you would invest 800.00 in Oregon Pacific Bancorp on November 3, 2024 and sell it today you would earn a total of 0.00 from holding Oregon Pacific Bancorp or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 5.0% |
| Values | Daily Returns |
Oregon Pacific Bancorp vs. Peak Bancorp
Performance |
| Timeline |
| Oregon Pacific Bancorp |
| Peak Bancorp |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Oregon Pacific and Peak Bancorp Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Oregon Pacific and Peak Bancorp
The main advantage of trading using opposite Oregon Pacific and Peak Bancorp positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Oregon Pacific position performs unexpectedly, Peak Bancorp 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 Peak Bancorp will offset losses from the drop in Peak Bancorp's long position.| Oregon Pacific vs. 1ST SUMMIT BANCORP | Oregon Pacific vs. Apollo Bancorp | Oregon Pacific vs. The Farmers Bank | Oregon Pacific vs. Old National Bancorp |
| Peak Bancorp vs. MVB Financial Corp | Peak Bancorp vs. Finward Bancorp | Peak Bancorp vs. First Community | Peak Bancorp vs. LINKBANCORP |
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 Stock Screener module to find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook..
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