Correlation Between The Gold and Natixis Oakmark

Specify exactly 2 symbols:
Can any of the company-specific risk be diversified away by investing in both The Gold and Natixis Oakmark 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 The Gold and Natixis Oakmark into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between The Gold Bullion and Natixis Oakmark, you can compare the effects of market volatilities on The Gold and Natixis Oakmark 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 The Gold with a short position of Natixis Oakmark. Check out your portfolio center. Please also check ongoing floating volatility patterns of The Gold and Natixis Oakmark.

Diversification Opportunities for The Gold and Natixis Oakmark

TheNatixisDiversified AwayTheNatixisDiversified Away100%
-0.24
  Correlation Coefficient

Very good diversification

The 3 months correlation between The and Natixis is -0.24. Overlapping area represents the amount of risk that can be diversified away by holding The Gold Bullion and Natixis Oakmark in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Natixis Oakmark and The Gold 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 The Gold Bullion are associated (or correlated) with Natixis Oakmark. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Natixis Oakmark has no effect on the direction of The Gold i.e., The Gold and Natixis Oakmark go up and down completely randomly.

Pair Corralation between The Gold and Natixis Oakmark

Assuming the 90 days horizon The Gold Bullion is expected to generate 0.96 times more return on investment than Natixis Oakmark. However, The Gold Bullion is 1.04 times less risky than Natixis Oakmark. It trades about 0.0 of its potential returns per unit of risk. Natixis Oakmark is currently generating about 0.0 per unit of risk. If you would invest  2,071  in The Gold Bullion on October 21, 2024 and sell it today you would lose (1.00) from holding The Gold Bullion or give up 0.05% of portfolio value over 90 days.
Time Period3 Months [change]
DirectionMoves Against 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

The Gold Bullion  vs.  Natixis Oakmark

 Performance 
JavaScript chart by amCharts 3.21.15NovDec2025 -6-4-20246
JavaScript chart by amCharts 3.21.15QGLCX NOANX
       Timeline  
Gold Bullion 

Risk-Adjusted Performance

0 of 100

 
Weak
 
Strong
Very Weak
Over the last 90 days The Gold Bullion has generated negative risk-adjusted returns adding no value to fund investors. In spite of fairly strong fundamental indicators, The Gold 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 3.21.15NovDecJanDecJan19.52020.521
Natixis Oakmark 

Risk-Adjusted Performance

0 of 100

 
Weak
 
Strong
Very Weak
Over the last 90 days Natixis Oakmark has generated negative risk-adjusted returns adding no value to fund investors. In spite of fairly strong basic indicators, Natixis Oakmark 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 3.21.15NovDecJanDecJan3232.53333.53434.53535.536

The Gold and Natixis Oakmark Volatility Contrast

   Predicted Return Density   
JavaScript chart by amCharts 3.21.15-3.39-2.54-1.69-0.84-0.01420.821.692.563.434.29 0.050.100.150.200.250.300.35
JavaScript chart by amCharts 3.21.15QGLCX NOANX
       Returns  

Pair Trading with The Gold and Natixis Oakmark

The main advantage of trading using opposite The Gold and Natixis Oakmark positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if The Gold position performs unexpectedly, Natixis Oakmark 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 Natixis Oakmark will offset losses from the drop in Natixis Oakmark's long position.
The idea behind The Gold Bullion and Natixis Oakmark 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 Idea Breakdown module to analyze constituents of all Macroaxis ideas. Macroaxis investment ideas are predefined, sector-focused investing themes.

Other Complementary Tools

Companies Directory
Evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals
Competition Analyzer
Analyze and compare many basic indicators for a group of related or unrelated entities
Idea Analyzer
Analyze all characteristics, volatility and risk-adjusted return of Macroaxis ideas
Earnings Calls
Check upcoming earnings announcements updated hourly across public exchanges
Latest Portfolios
Quick portfolio dashboard that showcases your latest portfolios