Correlation Between Angel Oak and Sartorius Stedim
Can any of the company-specific risk be diversified away by investing in both Angel Oak and Sartorius Stedim 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 Angel Oak and Sartorius Stedim into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Angel Oak Mortgage and Sartorius Stedim Biotech, you can compare the effects of market volatilities on Angel Oak and Sartorius Stedim 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 Angel Oak with a short position of Sartorius Stedim. Check out your portfolio center. Please also check ongoing floating volatility patterns of Angel Oak and Sartorius Stedim.
Diversification Opportunities for Angel Oak and Sartorius Stedim
0.26 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Angel and Sartorius is 0.26. Overlapping area represents the amount of risk that can be diversified away by holding Angel Oak Mortgage and Sartorius Stedim Biotech in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Sartorius Stedim Biotech and Angel Oak 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 Angel Oak Mortgage are associated (or correlated) with Sartorius Stedim. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Sartorius Stedim Biotech has no effect on the direction of Angel Oak i.e., Angel Oak and Sartorius Stedim go up and down completely randomly.
Pair Corralation between Angel Oak and Sartorius Stedim
Given the investment horizon of 90 days Angel Oak Mortgage is expected to generate 0.47 times more return on investment than Sartorius Stedim. However, Angel Oak Mortgage is 2.13 times less risky than Sartorius Stedim. It trades about 0.02 of its potential returns per unit of risk. Sartorius Stedim Biotech is currently generating about -0.07 per unit of risk. If you would invest 924.00 in Angel Oak Mortgage on May 2, 2025 and sell it today you would earn a total of 13.00 from holding Angel Oak Mortgage or generate 1.41% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Angel Oak Mortgage vs. Sartorius Stedim Biotech
Performance |
| Timeline |
| Angel Oak Mortgage |
| Sartorius Stedim Biotech |
Angel Oak and Sartorius Stedim Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Angel Oak and Sartorius Stedim
The main advantage of trading using opposite Angel Oak and Sartorius Stedim positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Angel Oak position performs unexpectedly, Sartorius Stedim 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 Sartorius Stedim will offset losses from the drop in Sartorius Stedim's long position.| Angel Oak vs. Granite Point Mortgage | Angel Oak vs. MFA Financial | Angel Oak vs. Two Harbors Investments | Angel Oak vs. PennyMac Mortgage Investment |
| Sartorius Stedim vs. Coloplast AS | Sartorius Stedim vs. Carl Zeiss Meditec | Sartorius Stedim vs. HOYA Corporation | Sartorius Stedim vs. Lonza Group |
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 Efficient Frontier module to plot and analyze your portfolio and positions against risk-return landscape of the market..
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