Correlation Between Oxford Square and B Riley
Can any of the company-specific risk be diversified away by investing in both Oxford Square 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 Oxford Square and B Riley into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Oxford Square Capital and B Riley Financial, you can compare the effects of market volatilities on Oxford Square 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 Oxford Square with a short position of B Riley. Check out your portfolio center. Please also check ongoing floating volatility patterns of Oxford Square and B Riley.
Diversification Opportunities for Oxford Square and B Riley
0.12 | Correlation Coefficient |
Average diversification
The 3 months correlation between Oxford and RILYG is 0.12. Overlapping area represents the amount of risk that can be diversified away by holding Oxford Square Capital 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 Oxford Square 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 Square Capital 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 Oxford Square i.e., Oxford Square and B Riley go up and down completely randomly.
Pair Corralation between Oxford Square and B Riley
If you would invest 1,492 in B Riley Financial on September 1, 2024 and sell it today you would lose (184.00) from holding B Riley Financial or give up 12.33% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 0.53% |
| Values | Daily Returns |
Oxford Square Capital vs. B Riley Financial
Performance |
| Timeline |
| Oxford Square Capital |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| B Riley Financial |
Oxford Square and B Riley Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Oxford Square and B Riley
The main advantage of trading using opposite Oxford Square and B Riley positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Oxford Square 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.| Oxford Square vs. Oxford Square Capital | Oxford Square vs. B Riley Financial | Oxford Square vs. B Riley Financial |
| 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 Bond Analysis module to evaluate and analyze corporate bonds as a potential investment for your portfolios..
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