Correlation Between Travelers Companies and Origin Bancorp
Can any of the company-specific risk be diversified away by investing in both Travelers Companies and Origin 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 Travelers Companies and Origin Bancorp into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between The Travelers Companies and Origin Bancorp, you can compare the effects of market volatilities on Travelers Companies and Origin 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 Travelers Companies with a short position of Origin Bancorp. Check out your portfolio center. Please also check ongoing floating volatility patterns of Travelers Companies and Origin Bancorp.
Diversification Opportunities for Travelers Companies and Origin Bancorp
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Travelers and Origin is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding The Travelers Companies and Origin Bancorp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Origin Bancorp and Travelers Companies 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 The Travelers Companies are associated (or correlated) with Origin Bancorp. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Origin Bancorp has no effect on the direction of Travelers Companies i.e., Travelers Companies and Origin Bancorp go up and down completely randomly.
Pair Corralation between Travelers Companies and Origin Bancorp
If you would invest 24,138 in The Travelers Companies on January 16, 2025 and sell it today you would earn a total of 828.00 from holding The Travelers Companies or generate 3.43% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
The Travelers Companies vs. Origin Bancorp
Performance |
| Timeline |
| The Travelers Companies |
| Origin Bancorp |
Risk-Adjusted Performance
Very Weak
Weak | Strong |
Travelers Companies and Origin Bancorp Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Travelers Companies and Origin Bancorp
The main advantage of trading using opposite Travelers Companies and Origin Bancorp positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Travelers Companies position performs unexpectedly, Origin 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 Origin Bancorp will offset losses from the drop in Origin Bancorp's long position.| Travelers Companies vs. Ameritrans Capital Corp | Travelers Companies vs. MicroAlgo | Travelers Companies vs. Summa Silver Corp | Travelers Companies vs. Invesco California Value |
| Origin Bancorp vs. Home Federal Bancorp | Origin Bancorp vs. First Financial Northwest | Origin Bancorp vs. First Northwest Bancorp | Origin Bancorp vs. First Capital |
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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