Correlation Between Live Oak and Victory High
Can any of the company-specific risk be diversified away by investing in both Live Oak and Victory High 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 Live Oak and Victory High into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Live Oak Health and Victory High Income, you can compare the effects of market volatilities on Live Oak and Victory High 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 Live Oak with a short position of Victory High. Check out your portfolio center. Please also check ongoing floating volatility patterns of Live Oak and Victory High.
Diversification Opportunities for Live Oak and Victory High
0.67 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Live and Victory is 0.67. Overlapping area represents the amount of risk that can be diversified away by holding Live Oak Health and Victory High Income in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Victory High Income and Live 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 Live Oak Health are associated (or correlated) with Victory High. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Victory High Income has no effect on the direction of Live Oak i.e., Live Oak and Victory High go up and down completely randomly.
Pair Corralation between Live Oak and Victory High
Assuming the 90 days horizon Live Oak Health is expected to generate 1.74 times more return on investment than Victory High. However, Live Oak is 1.74 times more volatile than Victory High Income. It trades about 0.05 of its potential returns per unit of risk. Victory High Income is currently generating about 0.0 per unit of risk. If you would invest 2,059 in Live Oak Health on September 11, 2025 and sell it today you would earn a total of 256.00 from holding Live Oak Health or generate 12.43% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Live Oak Health vs. Victory High Income
Performance |
| Timeline |
| Live Oak Health |
| Victory High Income |
Live Oak and Victory High Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Live Oak and Victory High
The main advantage of trading using opposite Live Oak and Victory High positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Live Oak position performs unexpectedly, Victory High 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 Victory High will offset losses from the drop in Victory High's long position.| Live Oak vs. Wesmark Tactical Opportunity | Live Oak vs. T Rowe Price | Live Oak vs. Nuveen Large Cap | Live Oak vs. Paradigm Value Fund |
| Victory High vs. Baron Health Care | Victory High vs. Live Oak Health | Victory High vs. Tekla Healthcare Investors | Victory High vs. Putnam Global Health |
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 Share Portfolio module to track or share privately all of your investments from the convenience of any device.
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