Correlation Between Oxford Technology and Alstria Office
Can any of the company-specific risk be diversified away by investing in both Oxford Technology and Alstria Office 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 Oxford Technology and Alstria Office into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Oxford Technology 2 and alstria office REIT AG, you can compare the effects of market volatilities on Oxford Technology and Alstria Office 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 Oxford Technology with a short position of Alstria Office. Check out your portfolio center. Please also check ongoing floating volatility patterns of Oxford Technology and Alstria Office.
Diversification Opportunities for Oxford Technology and Alstria Office
-0.3 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Oxford and Alstria is -0.3. Overlapping area represents the amount of risk that can be diversified away by holding Oxford Technology 2 and alstria office REIT AG in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on alstria office REIT and Oxford Technology 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 Oxford Technology 2 are associated (or correlated) with Alstria Office. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of alstria office REIT has no effect on the direction of Oxford Technology i.e., Oxford Technology and Alstria Office go up and down completely randomly.
Pair Corralation between Oxford Technology and Alstria Office
If you would invest 700.00 in Oxford Technology 2 on October 10, 2024 and sell it today you would earn a total of 0.00 from holding Oxford Technology 2 or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Oxford Technology 2 vs. alstria office REIT AG
Performance |
| Timeline |
| Oxford Technology |
| alstria office REIT |
Oxford Technology and Alstria Office Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Oxford Technology and Alstria Office
The main advantage of trading using opposite Oxford Technology and Alstria Office positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Oxford Technology position performs unexpectedly, Alstria Office 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 Alstria Office will offset losses from the drop in Alstria Office's long position.| Oxford Technology vs. alstria office REIT AG | Oxford Technology vs. Extra Space Storage | Oxford Technology vs. Rosslyn Data Technologies | Oxford Technology vs. Dairy Farm International |
| Alstria Office vs. Capital Metals PLC | Alstria Office vs. Europa Metals | Alstria Office vs. European Metals Holdings | Alstria Office vs. AMG Advanced Metallurgical |
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 Analysis module to research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities.
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