Correlation Between Oculis Holding and Origo Hf
Can any of the company-specific risk be diversified away by investing in both Oculis Holding and Origo Hf 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 Oculis Holding and Origo Hf into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Oculis Holding AG and Origo Hf, you can compare the effects of market volatilities on Oculis Holding and Origo Hf 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 Oculis Holding with a short position of Origo Hf. Check out your portfolio center. Please also check ongoing floating volatility patterns of Oculis Holding and Origo Hf.
Diversification Opportunities for Oculis Holding and Origo Hf
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Oculis and Origo is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Oculis Holding AG and Origo Hf in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Origo Hf and Oculis Holding 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 Oculis Holding AG are associated (or correlated) with Origo Hf. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Origo Hf has no effect on the direction of Oculis Holding i.e., Oculis Holding and Origo Hf go up and down completely randomly.
Pair Corralation between Oculis Holding and Origo Hf
If you would invest 213,000 in Oculis Holding AG on December 3, 2024 and sell it today you would earn a total of 63,000 from holding Oculis Holding AG or generate 29.58% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Flat |
Strength | Insignificant |
Accuracy | 0.0% |
Values | Daily Returns |
Oculis Holding AG vs. Origo Hf
Performance |
Timeline |
Oculis Holding AG |
Origo Hf |
Risk-Adjusted Performance
Very Weak
Weak | Strong |
Oculis Holding and Origo Hf Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Oculis Holding and Origo Hf
The main advantage of trading using opposite Oculis Holding and Origo Hf positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Oculis Holding position performs unexpectedly, Origo Hf 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 Origo Hf will offset losses from the drop in Origo Hf's long position.Oculis Holding vs. Kvika banki hf | Oculis Holding vs. Alvotech | Oculis Holding vs. slandsbanki hf | Oculis Holding vs. Fly Play hf |
Origo Hf vs. Alvotech | Origo Hf vs. Icelandair Group hf | Origo Hf vs. Arion banki hf | Origo Hf vs. Fly Play hf |
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 Premium Stories module to follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope.
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