Correlation Between Credit Suisse and Otis Gold
Can any of the company-specific risk be diversified away by investing in both Credit Suisse and Otis Gold 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 Credit Suisse and Otis Gold into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Credit Suisse Group and Otis Gold Corp, you can compare the effects of market volatilities on Credit Suisse and Otis Gold 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 Credit Suisse with a short position of Otis Gold. Check out your portfolio center. Please also check ongoing floating volatility patterns of Credit Suisse and Otis Gold.
Diversification Opportunities for Credit Suisse and Otis Gold
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Credit and Otis is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Credit Suisse Group and Otis Gold Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Otis Gold Corp and Credit Suisse 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 Credit Suisse Group are associated (or correlated) with Otis Gold. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Otis Gold Corp has no effect on the direction of Credit Suisse i.e., Credit Suisse and Otis Gold go up and down completely randomly.
Pair Corralation between Credit Suisse and Otis Gold
If you would invest (100.00) in Otis Gold Corp on January 18, 2024 and sell it today you would earn a total of 100.00 from holding Otis Gold Corp 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 |
Credit Suisse Group vs. Otis Gold Corp
Performance |
Timeline |
Credit Suisse Group |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Otis Gold Corp |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Credit Suisse and Otis Gold Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Credit Suisse and Otis Gold
The main advantage of trading using opposite Credit Suisse and Otis Gold positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Credit Suisse position performs unexpectedly, Otis Gold 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 Otis Gold will offset losses from the drop in Otis Gold's long position.Credit Suisse vs. Barclays PLC ADR | Credit Suisse vs. HSBC Holdings PLC | Credit Suisse vs. ING Group NV | Credit Suisse vs. Citigroup |
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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 Latest Portfolios module to quick portfolio dashboard that showcases your latest portfolios.
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