Correlation Between Oxford Lane and Intertech
Can any of the company-specific risk be diversified away by investing in both Oxford Lane and Intertech 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 Oxford Lane and Intertech into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Oxford Lane Capital and Intertech SA Inter, you can compare the effects of market volatilities on Oxford Lane and Intertech 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 Oxford Lane with a short position of Intertech. Check out your portfolio center. Please also check ongoing floating volatility patterns of Oxford Lane and Intertech.
Diversification Opportunities for Oxford Lane and Intertech
-0.76 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Oxford and Intertech is -0.76. Overlapping area represents the amount of risk that can be diversified away by holding Oxford Lane Capital and Intertech SA Inter in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Intertech SA Inter and Oxford Lane 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 Oxford Lane Capital are associated (or correlated) with Intertech. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Intertech SA Inter has no effect on the direction of Oxford Lane i.e., Oxford Lane and Intertech go up and down completely randomly.
Pair Corralation between Oxford Lane and Intertech
Given the investment horizon of 90 days Oxford Lane Capital is expected to under-perform the Intertech. In addition to that, Oxford Lane is 1.19 times more volatile than Intertech SA Inter. It trades about -0.2 of its total potential returns per unit of risk. Intertech SA Inter is currently generating about 0.18 per unit of volatility. If you would invest 125.00 in Intertech SA Inter on May 4, 2025 and sell it today you would earn a total of 23.00 from holding Intertech SA Inter or generate 18.4% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Against |
Strength | Weak |
Accuracy | 96.92% |
Values | Daily Returns |
Oxford Lane Capital vs. Intertech SA Inter
Performance |
Timeline |
Oxford Lane Capital |
Intertech SA Inter |
Oxford Lane and Intertech Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Oxford Lane and Intertech
The main advantage of trading using opposite Oxford Lane and Intertech positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Oxford Lane position performs unexpectedly, Intertech 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 Intertech will offset losses from the drop in Intertech's long position.Oxford Lane vs. Cornerstone Strategic Value | Oxford Lane vs. Cornerstone Strategic Return | Oxford Lane vs. Eagle Point Credit | Oxford Lane vs. Guggenheim Strategic Opportunities |
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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 Sync Your Broker module to sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors..
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