Correlation Between Oasis Hotel and Where Food

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

Diversification Opportunities for Oasis Hotel and Where Food

OasisWhereDiversified AwayOasisWhereDiversified Away100%
0.0
  Correlation Coefficient

Pay attention - limited upside

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

Pair Corralation between Oasis Hotel and Where Food

If you would invest  1,148  in Where Food Comes on October 15, 2024 and sell it today you would earn a total of  126.00  from holding Where Food Comes or generate 10.98% return on investment over 90 days.
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Oasis Hotel Resort  vs.  Where Food Comes

 Performance 
JavaScript chart by amCharts 3.21.15OctNovDec 05101520
JavaScript chart by amCharts 3.21.15OHTR WFCF
       Timeline  
Oasis Hotel Resort 

Risk-Adjusted Performance

0 of 100

 
Weak
 
Strong
Very Weak
Over the last 90 days Oasis Hotel Resort has generated negative risk-adjusted returns adding no value to investors with long positions. Even with relatively invariable basic indicators, Oasis Hotel is not utilizing all of its potentials. The recent stock price agitation, may contribute to short-term losses for the retail investors.
JavaScript chart by amCharts 3.21.15NovDecJanDecJan0.00020.0002050.000210.000215
Where Food Comes 

Risk-Adjusted Performance

6 of 100

 
Weak
 
Strong
Modest
Compared to the overall equity markets, risk-adjusted returns on investments in Where Food Comes are ranked lower than 6 (%) of all global equities and portfolios over the last 90 days. Despite nearly weak fundamental indicators, Where Food reported solid returns over the last few months and may actually be approaching a breakup point.
JavaScript chart by amCharts 3.21.15NovDecJanDecJan1111.51212.51313.5

Oasis Hotel and Where Food Volatility Contrast

   Predicted Return Density   
JavaScript chart by amCharts 3.21.15 0.010.020.030.040.05
JavaScript chart by amCharts 3.21.15OHTR WFCF
       Returns  

Pair Trading with Oasis Hotel and Where Food

The main advantage of trading using opposite Oasis Hotel and Where Food positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Oasis Hotel position performs unexpectedly, Where Food 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 Where Food will offset losses from the drop in Where Food's long position.
The idea behind Oasis Hotel Resort and Where Food Comes 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.
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 Latest Portfolios module to quick portfolio dashboard that showcases your latest portfolios.

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