Correlation Between Aquagold International and Oaktree Capital
Can any of the company-specific risk be diversified away by investing in both Aquagold International and Oaktree Capital 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 Aquagold International and Oaktree Capital into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Aquagold International and Oaktree Capital Group, you can compare the effects of market volatilities on Aquagold International and Oaktree Capital 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 Aquagold International with a short position of Oaktree Capital. Check out your portfolio center. Please also check ongoing floating volatility patterns of Aquagold International and Oaktree Capital.
Diversification Opportunities for Aquagold International and Oaktree Capital
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Aquagold and Oaktree is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Aquagold International and Oaktree Capital Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Oaktree Capital Group and Aquagold International 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 Aquagold International are associated (or correlated) with Oaktree Capital. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Oaktree Capital Group has no effect on the direction of Aquagold International i.e., Aquagold International and Oaktree Capital go up and down completely randomly.
Pair Corralation between Aquagold International and Oaktree Capital
If you would invest 2,185 in Oaktree Capital Group on July 24, 2024 and sell it today you would earn a total of 128.00 from holding Oaktree Capital Group or generate 5.86% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Flat |
Strength | Insignificant |
Accuracy | 98.44% |
Values | Daily Returns |
Aquagold International vs. Oaktree Capital Group
Performance |
Timeline |
Aquagold International |
Oaktree Capital Group |
Aquagold International and Oaktree Capital Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Aquagold International and Oaktree Capital
The main advantage of trading using opposite Aquagold International and Oaktree Capital positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Aquagold International position performs unexpectedly, Oaktree Capital 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 Oaktree Capital will offset losses from the drop in Oaktree Capital's long position.Aquagold International vs. National Beverage Corp | Aquagold International vs. Celsius Holdings | Aquagold International vs. Monster Beverage Corp | Aquagold International vs. Coca Cola Femsa SAB |
Oaktree Capital vs. RiverNorth Specialty Finance | Oaktree Capital vs. The Gabelli Multimedia | Oaktree Capital vs. The Gabelli Equity | Oaktree Capital vs. Virtus AllianzGI Convertible |
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 Portfolio Holdings module to check your current holdings and cash postion to detemine if your portfolio needs rebalancing.
Other Complementary Tools
Equity Search Search for actively traded equities including funds and ETFs from over 30 global markets | |
CEOs Directory Screen CEOs from public companies around the world | |
Latest Portfolios Quick portfolio dashboard that showcases your latest portfolios | |
Investing Opportunities Build portfolios using our predefined set of ideas and optimize them against your investing preferences | |
Bond Analysis Evaluate and analyze corporate bonds as a potential investment for your portfolios. |