Correlation Between Oppenheimer Holdings and Triller

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

By analyzing existing cross correlation between Oppenheimer Holdings and Triller Group, you can compare the effects of market volatilities on Oppenheimer Holdings and Triller 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 Oppenheimer Holdings with a short position of Triller. Check out your portfolio center. Please also check ongoing floating volatility patterns of Oppenheimer Holdings and Triller.

Diversification Opportunities for Oppenheimer Holdings and Triller

-0.56

Correlation Coefficient

Oppenheimer Holdings  Triller

Excellent diversification

The 3 months correlation between Oppenheimer and Triller is -0.56. Overlapping area represents the amount of risk that can be diversified away by holding Oppenheimer Holdings and Triller Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Triller Group and Oppenheimer Holdings 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 Oppenheimer Holdings are associated (or correlated) with Triller. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Triller Group has no effect on the direction of Oppenheimer Holdings i.e., Oppenheimer Holdings and Triller go up and down completely randomly.

Pair Corralation between Oppenheimer Holdings and Triller

Considering the 90-day investment horizon Oppenheimer Holdings is expected to generate 2.84 times less return on investment than Triller. But when comparing it to its historical volatility, Oppenheimer Holdings is 6.65 times less risky than Triller. It trades about 0.05 of its potential returns per unit of risk. Triller Group is currently generating about 0.02 of returns per unit of risk over similar time horizon. If you would invest  851.00  in Triller Group on October 4, 2024 and sell it today you would lose (603.81) from holding Triller Group or give up 70.95% of portfolio value over 90 days.

Time Period	3 Months [change]
Direction	Moves Against
Strength	Very Weak
Accuracy	100.0%
Values	Daily Returns

Oppenheimer Holdings  vs.  Triller Group

Oppenheimer Holdings

Risk-Adjusted Performance

15 of 100

Good

Compared to the overall equity markets, risk-adjusted returns on investments in Oppenheimer Holdings are ranked lower than 15 (%) of all global equities and portfolios over the last 90 days. In spite of fairly uncertain basic indicators, Oppenheimer Holdings showed solid returns over the last few months and may actually be approaching a breakup point.

Triller Group

Risk-Adjusted Performance

0 of 100

Very Weak

Over the last 90 days Triller Group has generated negative risk-adjusted returns adding no value to investors with long positions. Even with uncertain performance in the last few months, the Stock's essential indicators remain relatively invariable which may send shares a bit higher in February 2025. The latest agitation may also be a sign of long-running up-swing for the enterprise retail investors.

Pair Trading with Oppenheimer Holdings and Triller

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

The idea behind Oppenheimer Holdings and Triller Group 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 Commodity Directory module to find actively traded commodities issued by global exchanges.