Correlation Between Clarke and OXE Marine
Can any of the company-specific risk be diversified away by investing in both Clarke and OXE Marine 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 Clarke and OXE Marine into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Clarke Inc and OXE Marine AB, you can compare the effects of market volatilities on Clarke and OXE Marine 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 Clarke with a short position of OXE Marine. Check out your portfolio center. Please also check ongoing floating volatility patterns of Clarke and OXE Marine.
Diversification Opportunities for Clarke and OXE Marine
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Clarke and OXE is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Clarke Inc and OXE Marine AB in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on OXE Marine AB and Clarke 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 Clarke Inc are associated (or correlated) with OXE Marine. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of OXE Marine AB has no effect on the direction of Clarke i.e., Clarke and OXE Marine go up and down completely randomly.
Pair Corralation between Clarke and OXE Marine
If you would invest 3.00 in OXE Marine AB on August 27, 2025 and sell it today you would earn a total of 0.50 from holding OXE Marine AB or generate 16.67% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Clarke Inc vs. OXE Marine AB
Performance |
| Timeline |
| Clarke Inc |
| OXE Marine AB |
Clarke and OXE Marine Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Clarke and OXE Marine
The main advantage of trading using opposite Clarke and OXE Marine positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Clarke position performs unexpectedly, OXE Marine 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 OXE Marine will offset losses from the drop in OXE Marine's long position.| Clarke vs. H2O Retailing | Clarke vs. TeraForce Technology | Clarke vs. Fast Retailing Co | Clarke vs. Pintec Technology Holdings |
| OXE Marine vs. Ultra Clean Holdings | OXE Marine vs. Northstar Clean Technologies | OXE Marine vs. Ecoloclean Industrs | OXE Marine vs. CleanGo Innovations |
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 Equity Analysis module to research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities.
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