Correlation Between Oshidori International and Pebblebrook Hotel
Can any of the company-specific risk be diversified away by investing in both Oshidori International and Pebblebrook Hotel 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 Oshidori International and Pebblebrook Hotel into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Oshidori International Holdings and Pebblebrook Hotel Trust, you can compare the effects of market volatilities on Oshidori International and Pebblebrook Hotel 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 Oshidori International with a short position of Pebblebrook Hotel. Check out your portfolio center. Please also check ongoing floating volatility patterns of Oshidori International and Pebblebrook Hotel.
Diversification Opportunities for Oshidori International and Pebblebrook Hotel
-0.87 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Oshidori and Pebblebrook is -0.87. Overlapping area represents the amount of risk that can be diversified away by holding Oshidori International Holding and Pebblebrook Hotel Trust in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Pebblebrook Hotel Trust and Oshidori International 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 Oshidori International Holdings are associated (or correlated) with Pebblebrook Hotel. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Pebblebrook Hotel Trust has no effect on the direction of Oshidori International i.e., Oshidori International and Pebblebrook Hotel go up and down completely randomly.
Pair Corralation between Oshidori International and Pebblebrook Hotel
Assuming the 90 days horizon Oshidori International Holdings is expected to generate 34.96 times more return on investment than Pebblebrook Hotel. However, Oshidori International is 34.96 times more volatile than Pebblebrook Hotel Trust. It trades about 0.06 of its potential returns per unit of risk. Pebblebrook Hotel Trust is currently generating about 0.02 per unit of risk. If you would invest 0.06 in Oshidori International Holdings on November 2, 2024 and sell it today you would earn a total of 3.54 from holding Oshidori International Holdings or generate 5900.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Significant |
| Accuracy | 99.8% |
| Values | Daily Returns |
Oshidori International Holding vs. Pebblebrook Hotel Trust
Performance |
| Timeline |
| Oshidori International |
| Pebblebrook Hotel Trust |
Oshidori International and Pebblebrook Hotel Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Oshidori International and Pebblebrook Hotel
The main advantage of trading using opposite Oshidori International and Pebblebrook Hotel positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Oshidori International position performs unexpectedly, Pebblebrook Hotel 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 Pebblebrook Hotel will offset losses from the drop in Pebblebrook Hotel's long position.| Oshidori International vs. MACOM Technology Solutions | Oshidori International vs. ASML Holding NV | Oshidori International vs. One Group Hospitality | Oshidori International vs. Biglari Holdings |
| Pebblebrook Hotel vs. Braemar Hotels Resorts | Pebblebrook Hotel vs. Ashford Hospitality Trust | Pebblebrook Hotel vs. Ashford Hospitality Trust | Pebblebrook Hotel vs. Braemar Hotels Resorts |
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 Money Managers module to screen money managers from public funds and ETFs managed around the world.
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