Correlation Between Ozon Holdings and 1StdibsCom

Can any of the company-specific risk be diversified away by investing in both Ozon Holdings and 1StdibsCom 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 Ozon Holdings and 1StdibsCom into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between Ozon Holdings PLC and 1StdibsCom, you can compare the effects of market volatilities on Ozon Holdings and 1StdibsCom 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 Ozon Holdings with a short position of 1StdibsCom. Check out your portfolio center. Please also check ongoing floating volatility patterns of Ozon Holdings and 1StdibsCom.

Diversification Opportunities for Ozon Holdings and 1StdibsCom

0.0

Correlation Coefficient

Ozon Holdings  1StdibsCom

Pay attention - limited upside

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

Pair Corralation between Ozon Holdings and 1StdibsCom

If you would invest (100.00) in Ozon Holdings PLC on December 29, 2024 and sell it today you would earn a total of  100.00  from holding Ozon Holdings PLC or generate -100.0% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Flat
Strength	Insignificant
Accuracy	0.0%
Values	Daily Returns

Ozon Holdings PLC  vs.  1StdibsCom

Ozon Holdings PLC

Risk-Adjusted Performance

Very Weak

Over the last 90 days Ozon Holdings PLC has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of very healthy basic indicators, Ozon Holdings is not utilizing all of its potentials. The current stock price disarray, may contribute to short-term losses for the investors.

1StdibsCom

Risk-Adjusted Performance

Very Weak

Over the last 90 days 1StdibsCom has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of weak performance in the last few months, the Stock's fundamental drivers remain comparatively stable which may send shares a bit higher in April 2025. The newest uproar may also be a sign of mid-term up-swing for the firm private investors.

Pair Trading with Ozon Holdings and 1StdibsCom

The main advantage of trading using opposite Ozon Holdings and 1StdibsCom positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Ozon Holdings position performs unexpectedly, 1StdibsCom 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 1StdibsCom will offset losses from the drop in 1StdibsCom's long position.

The idea behind Ozon Holdings PLC and 1StdibsCom 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 Theme Ratings module to determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance.