Correlation Between Aegis Brands and OXE Marine

Can any of the company-specific risk be diversified away by investing in both Aegis Brands and OXE Marine 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 Aegis Brands and OXE Marine into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between Aegis Brands and OXE Marine AB, you can compare the effects of market volatilities on Aegis Brands and OXE Marine 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 Aegis Brands with a short position of OXE Marine. Check out your portfolio center. Please also check ongoing floating volatility patterns of Aegis Brands and OXE Marine.

Diversification Opportunities for Aegis Brands and OXE Marine

0.19

Correlation Coefficient

Aegis Brands  OXE Marine

Average diversification

The 3 months correlation between Aegis and OXE is 0.19. Overlapping area represents the amount of risk that can be diversified away by holding Aegis Brands and OXE Marine AB in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on OXE Marine AB and Aegis Brands 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 Aegis Brands are associated (or correlated) with OXE Marine. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of OXE Marine AB has no effect on the direction of Aegis Brands i.e., Aegis Brands and OXE Marine go up and down completely randomly.

Pair Corralation between Aegis Brands and OXE Marine

Assuming the 90 days horizon Aegis Brands is expected to under-perform the OXE Marine. In addition to that, Aegis Brands is 1.13 times more volatile than OXE Marine AB. It trades about -0.01 of its total potential returns per unit of risk. OXE Marine AB is currently generating about 0.12 per unit of volatility. If you would invest  3.00  in OXE Marine AB on September 1, 2025 and sell it today you would earn a total of  0.50  from holding OXE Marine AB or generate 16.67% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Together
Strength	Insignificant
Accuracy	98.46%
Values	Daily Returns

Aegis Brands  vs.  OXE Marine AB

Aegis Brands

Risk-Adjusted Performance

Weakest

Over the last 90 days Aegis Brands has generated negative risk-adjusted returns adding no value to investors with long positions. Despite nearly stable basic indicators, Aegis Brands is not utilizing all of its potentials. The current stock price disturbance, may contribute to mid-run losses for the stockholders.

OXE Marine AB

Risk-Adjusted Performance

Fair

Compared to the overall equity markets, risk-adjusted returns on investments in OXE Marine AB are ranked lower than 9 (%) of all global equities and portfolios over the last 90 days. Despite nearly weak fundamental indicators, OXE Marine reported solid returns over the last few months and may actually be approaching a breakup point.

Pair Trading with Aegis Brands and OXE Marine

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

The idea behind Aegis Brands and OXE Marine AB 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 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..