Correlation Between Otp Bank and Halliburton

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

Diversification Opportunities for Otp Bank and Halliburton

-0.05
  Correlation Coefficient

Good diversification

The 3 months correlation between OTPBF and Halliburton is -0.05. Overlapping area represents the amount of risk that can be diversified away by holding Otp Bank and Halliburton in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Halliburton and Otp Bank 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 Otp Bank are associated (or correlated) with Halliburton. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Halliburton has no effect on the direction of Otp Bank i.e., Otp Bank and Halliburton go up and down completely randomly.

Pair Corralation between Otp Bank and Halliburton

Assuming the 90 days horizon Otp Bank is expected to under-perform the Halliburton. In addition to that, Otp Bank is 4.61 times more volatile than Halliburton. It trades about -0.17 of its total potential returns per unit of risk. Halliburton is currently generating about -0.07 per unit of volatility. If you would invest  3,585  in Halliburton on April 2, 2022 and sell it today you would lose (492.00)  from holding Halliburton or give up 13.72% of portfolio value over 90 days.
Time Period3 Months [change]
DirectionMoves Against 
StrengthInsignificant
Accuracy97.67%
ValuesDaily Returns

Otp Bank  vs.  Halliburton

 Performance (%) 
      Timeline 
Otp Bank 
OTPBF Performance
0 of 100
Over the last 90 days Otp Bank has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of sluggish performance in the last few months, the Stock's fundamental drivers remain rather sound which may send shares a bit higher in August 2022. The latest tumult may also be a sign of longer-term up-swing for the firm shareholders.

Structure and Payout Changes

Forward Annual Dividend Yield
0.0467
Payout Ratio
0.24
Forward Annual Dividend Rate
1.17
Ex Dividend Date
2022-05-20

OTPBF Price Channel

Halliburton 
Halliburton Performance
0 of 100
Over the last 90 days Halliburton has generated negative risk-adjusted returns adding no value to investors with long positions. Even with fragile performance in the last few months, the Stock's basic indicators remain relatively steady which may send shares a bit higher in August 2022. The new chaos may also be a sign of medium-term up-swing for the company stakeholders.

Halliburton Price Channel

Otp Bank and Halliburton Volatility Contrast

 Predicted Return Density 
      Returns 

Pair Trading with Otp Bank and Halliburton

The main advantage of trading using opposite Otp Bank and Halliburton positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Otp Bank position performs unexpectedly, Halliburton 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 Halliburton will offset losses from the drop in Halliburton's long position.
The idea behind Otp Bank and Halliburton 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 Fundamental Analysis module to view fundamental data based on most recent published financial statements.

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