Correlation Between OWC Pharmaceutical and Onassis Holdings

Can any of the company-specific risk be diversified away by investing in both OWC Pharmaceutical and Onassis Holdings 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 OWC Pharmaceutical and Onassis Holdings into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between OWC Pharmaceutical Research and Onassis Holdings Corp, you can compare the effects of market volatilities on OWC Pharmaceutical and Onassis Holdings 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 OWC Pharmaceutical with a short position of Onassis Holdings. Check out your portfolio center. Please also check ongoing floating volatility patterns of OWC Pharmaceutical and Onassis Holdings.

Diversification Opportunities for OWC Pharmaceutical and Onassis Holdings

0.0

Correlation Coefficient

OWC Pharmaceutical  Onassis Holdings

Pay attention - limited upside

The 3 months correlation between OWC and Onassis is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding OWC Pharmaceutical Research and Onassis Holdings Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Onassis Holdings Corp and OWC Pharmaceutical 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 OWC Pharmaceutical Research are associated (or correlated) with Onassis Holdings. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Onassis Holdings Corp has no effect on the direction of OWC Pharmaceutical i.e., OWC Pharmaceutical and Onassis Holdings go up and down completely randomly.

Pair Corralation between OWC Pharmaceutical and Onassis Holdings

Given the investment horizon of 90 days OWC Pharmaceutical Research is expected to generate 5.84 times more return on investment than Onassis Holdings. However, OWC Pharmaceutical is 5.84 times more volatile than Onassis Holdings Corp. It trades about 0.08 of its potential returns per unit of risk. Onassis Holdings Corp is currently generating about 0.02 per unit of risk. If you would invest  0.00  in OWC Pharmaceutical Research on September 14, 2025 and sell it today you would earn a total of  0.00  from holding OWC Pharmaceutical Research or generate 0.0% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Flat
Strength	Insignificant
Accuracy	69.03%
Values	Daily Returns

OWC Pharmaceutical Research  vs.  Onassis Holdings Corp

OWC Pharmaceutical

Risk-Adjusted Performance

Weakest

Over the last 90 days OWC Pharmaceutical Research has generated negative risk-adjusted returns adding no value to investors with long positions. Even with relatively invariable fundamental indicators, OWC Pharmaceutical is not utilizing all of its potentials. The latest stock price agitation, may contribute to short-term losses for the retail investors.

Onassis Holdings Corp

Risk-Adjusted Performance

Weakest

Over the last 90 days Onassis Holdings Corp has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of comparatively stable basic indicators, Onassis Holdings is not utilizing all of its potentials. The current stock price uproar, may contribute to short-horizon losses for the private investors.

Pair Trading with OWC Pharmaceutical and Onassis Holdings

The main advantage of trading using opposite OWC Pharmaceutical and Onassis Holdings positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if OWC Pharmaceutical position performs unexpectedly, Onassis Holdings 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 Onassis Holdings will offset losses from the drop in Onassis Holdings' long position.

The idea behind OWC Pharmaceutical Research and Onassis Holdings Corp pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.

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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.