Correlation Between PACIFIC and Oxbridge
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By analyzing existing cross correlation between PACIFIC GAS AND and Oxbridge Re Holdings, you can compare the effects of market volatilities on PACIFIC and Oxbridge 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 PACIFIC with a short position of Oxbridge. Check out your portfolio center. Please also check ongoing floating volatility patterns of PACIFIC and Oxbridge.
Diversification Opportunities for PACIFIC and Oxbridge
Excellent diversification
The 3 months correlation between PACIFIC and Oxbridge is -0.52. Overlapping area represents the amount of risk that can be diversified away by holding PACIFIC GAS AND and Oxbridge Re Holdings in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Oxbridge Re Holdings and 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 PACIFIC GAS AND are associated (or correlated) with Oxbridge. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Oxbridge Re Holdings has no effect on the direction of PACIFIC i.e., PACIFIC and Oxbridge go up and down completely randomly.
Pair Corralation between PACIFIC and Oxbridge
Assuming the 90 days trading horizon PACIFIC GAS AND is expected to under-perform the Oxbridge. But the bond apears to be less risky and, when comparing its historical volatility, PACIFIC GAS AND is 10.63 times less risky than Oxbridge. The bond trades about -0.29 of its potential returns per unit of risk. The Oxbridge Re Holdings is currently generating about 0.1 of returns per unit of risk over similar time horizon. If you would invest 393.00 in Oxbridge Re Holdings on November 4, 2024 and sell it today you would earn a total of 34.00 from holding Oxbridge Re Holdings or generate 8.65% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 90.91% |
| Values | Daily Returns |
PACIFIC GAS AND vs. Oxbridge Re Holdings
Performance |
| Timeline |
| PACIFIC GAS AND |
| Oxbridge Re Holdings |
PACIFIC and Oxbridge Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with PACIFIC and Oxbridge
The main advantage of trading using opposite PACIFIC and Oxbridge positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if PACIFIC position performs unexpectedly, Oxbridge 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 Oxbridge will offset losses from the drop in Oxbridge's long position.| PACIFIC vs. Mesa Air Group | PACIFIC vs. Summit Bank Group | PACIFIC vs. Catalyst Bancorp | PACIFIC vs. Juniata Valley Financial |
| Oxbridge vs. Muenchener Rueckver Ges | Oxbridge vs. Greenlight Capital Re | Oxbridge vs. Maiden Holdings | Oxbridge vs. Swiss Re |
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 Investing Opportunities module to build portfolios using our predefined set of ideas and optimize them against your investing preferences.
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