Correlation Between Oaktree Cap and Apple

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

Diversification Opportunities for Oaktree Cap and Apple

0.0
  Correlation Coefficient

Pay attention - limited upside

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

Pair Corralation between Oaktree Cap and Apple

If you would invest  0.00  in Oaktree Cap Group on July 7, 2022 and sell it today you would earn a total of  0.00  from holding Oaktree Cap Group or generate 0.0% return on investment over 90 days.
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy4.55%
ValuesDaily Returns

Oaktree Cap Group  vs.  Apple Inc

 Performance (%) 
       Timeline  
Oaktree Cap Group 
Oaktree Performance
0 of 100
Over the last 90 days Oaktree Cap Group has generated negative risk-adjusted returns adding no value to investors with long positions. Despite somewhat strong basic indicators, Oaktree Cap is not utilizing all of its potentials. The newest stock price disturbance, may contribute to short-term losses for the investors.
Apple Inc 
Apple Performance
0 of 100
Over the last 90 days Apple Inc has generated negative risk-adjusted returns adding no value to investors with long positions. Even with relatively steady basic indicators, Apple is not utilizing all of its potentials. The latest stock price chaos, may contribute to medium-term losses for the stakeholders.

Apple Price Channel

Oaktree Cap and Apple Volatility Contrast

   Predicted Return Density   
       Returns  

Pair Trading with Oaktree Cap and Apple

The main advantage of trading using opposite Oaktree Cap and Apple positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Oaktree Cap position performs unexpectedly, Apple 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 Apple will offset losses from the drop in Apple's long position.
Oaktree Cap vs. Microsoft Corp
The idea behind Oaktree Cap Group and Apple Inc 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.
Apple vs. Amazon Inc
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 Cryptocurrency Center module to build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency.

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