Correlation Between Oakhurst Short and Ivy Asset

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Can any of the company-specific risk be diversified away by investing in both Oakhurst Short and Ivy Asset 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 Oakhurst Short and Ivy Asset into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Oakhurst Short Duration and Ivy Asset Strategy, you can compare the effects of market volatilities on Oakhurst Short and Ivy Asset 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 Oakhurst Short with a short position of Ivy Asset. Check out your portfolio center. Please also check ongoing floating volatility patterns of Oakhurst Short and Ivy Asset.

Diversification Opportunities for Oakhurst Short and Ivy Asset

OakhurstIvyDiversified AwayOakhurstIvyDiversified Away100%
0.26
  Correlation Coefficient

Modest diversification

The 3 months correlation between Oakhurst and Ivy is 0.26. Overlapping area represents the amount of risk that can be diversified away by holding Oakhurst Short Duration and Ivy Asset Strategy in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Ivy Asset Strategy and Oakhurst Short 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 Oakhurst Short Duration are associated (or correlated) with Ivy Asset. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Ivy Asset Strategy has no effect on the direction of Oakhurst Short i.e., Oakhurst Short and Ivy Asset go up and down completely randomly.

Pair Corralation between Oakhurst Short and Ivy Asset

Assuming the 90 days horizon Oakhurst Short Duration is expected to generate 0.16 times more return on investment than Ivy Asset. However, Oakhurst Short Duration is 6.27 times less risky than Ivy Asset. It trades about 0.16 of its potential returns per unit of risk. Ivy Asset Strategy is currently generating about -0.05 per unit of risk. If you would invest  886.00  in Oakhurst Short Duration on November 24, 2024 and sell it today you would earn a total of  13.00  from holding Oakhurst Short Duration or generate 1.47% return on investment over 90 days.
Time Period3 Months [change]
DirectionMoves Together 
StrengthVery Weak
Accuracy100.0%
ValuesDaily Returns

Oakhurst Short Duration  vs.  Ivy Asset Strategy

 Performance 
JavaScript chart by amCharts 3.21.15Dec2025Feb -4-2024
JavaScript chart by amCharts 3.21.15OHSHX IVAEX
       Timeline  
Oakhurst Short Duration 

Risk-Adjusted Performance

Good

 
Weak
 
Strong
Compared to the overall equity markets, risk-adjusted returns on investments in Oakhurst Short Duration are ranked lower than 12 (%) of all funds and portfolios of funds over the last 90 days. In spite of fairly strong technical indicators, Oakhurst Short is not utilizing all of its potentials. The current stock price disturbance, may contribute to short-term losses for the investors.
JavaScript chart by amCharts 3.21.15DecJanFebJanFeb8.858.98.959
Ivy Asset Strategy 

Risk-Adjusted Performance

Very Weak

 
Weak
 
Strong
Over the last 90 days Ivy Asset Strategy has generated negative risk-adjusted returns adding no value to fund investors. In spite of fairly strong technical and fundamental indicators, Ivy Asset is not utilizing all of its potentials. The current stock price disturbance, may contribute to short-term losses for the investors.
JavaScript chart by amCharts 3.21.15DecJanFebJanFeb2222.52323.524

Oakhurst Short and Ivy Asset Volatility Contrast

   Predicted Return Density   
JavaScript chart by amCharts 3.21.15-0.38-0.18-0.0778-0.0409-0.0021450.03860.08150.210.410.61 51015
JavaScript chart by amCharts 3.21.15OHSHX IVAEX
       Returns  

Pair Trading with Oakhurst Short and Ivy Asset

The main advantage of trading using opposite Oakhurst Short and Ivy Asset positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Oakhurst Short position performs unexpectedly, Ivy Asset 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 Ivy Asset will offset losses from the drop in Ivy Asset's long position.
The idea behind Oakhurst Short Duration and Ivy Asset Strategy 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 Economic Indicators module to top statistical indicators that provide insights into how an economy is performing.

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