Correlation Between Wiener Privatbank and Oberbank
Can any of the company-specific risk be diversified away by investing in both Wiener Privatbank and Oberbank 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 Wiener Privatbank and Oberbank into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Wiener Privatbank SE and Oberbank AG, you can compare the effects of market volatilities on Wiener Privatbank and Oberbank 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 Wiener Privatbank with a short position of Oberbank. Check out your portfolio center. Please also check ongoing floating volatility patterns of Wiener Privatbank and Oberbank.
Diversification Opportunities for Wiener Privatbank and Oberbank
0.16 | Correlation Coefficient |
Average diversification
The 3 months correlation between Wiener and Oberbank is 0.16. Overlapping area represents the amount of risk that can be diversified away by holding Wiener Privatbank SE and Oberbank AG in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Oberbank AG and Wiener Privatbank 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 Wiener Privatbank SE are associated (or correlated) with Oberbank. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Oberbank AG has no effect on the direction of Wiener Privatbank i.e., Wiener Privatbank and Oberbank go up and down completely randomly.
Pair Corralation between Wiener Privatbank and Oberbank
If you would invest 7,020 in Oberbank AG on August 26, 2024 and sell it today you would earn a total of 40.00 from holding Oberbank AG or generate 0.57% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 95.45% |
| Values | Daily Returns |
Wiener Privatbank SE vs. Oberbank AG
Performance |
| Timeline |
| Wiener Privatbank |
| Oberbank AG |
Wiener Privatbank and Oberbank Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Wiener Privatbank and Oberbank
The main advantage of trading using opposite Wiener Privatbank and Oberbank positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Wiener Privatbank position performs unexpectedly, Oberbank 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 Oberbank will offset losses from the drop in Oberbank's long position.| Wiener Privatbank vs. BKS Bank AG | Wiener Privatbank vs. Vienna Insurance Group | Wiener Privatbank vs. Oberbank AG | Wiener Privatbank vs. AMAG Austria Metall |
| Oberbank vs. UNIQA Insurance Group | Oberbank vs. BKS Bank AG | Oberbank vs. Vienna Insurance Group | Oberbank vs. Addiko Bank AG |
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 Earnings Calls module to check upcoming earnings announcements updated hourly across public exchanges.
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