Correlation Between Rbb Fund and Oppenheimer Senior
Can any of the company-specific risk be diversified away by investing in both Rbb Fund and Oppenheimer Senior 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 Rbb Fund and Oppenheimer Senior into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Rbb Fund and Oppenheimer Senior Floating, you can compare the effects of market volatilities on Rbb Fund and Oppenheimer Senior 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 Rbb Fund with a short position of Oppenheimer Senior. Check out your portfolio center. Please also check ongoing floating volatility patterns of Rbb Fund and Oppenheimer Senior.
Diversification Opportunities for Rbb Fund and Oppenheimer Senior
0.56 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Rbb and Oppenheimer is 0.56. Overlapping area represents the amount of risk that can be diversified away by holding Rbb Fund and Oppenheimer Senior Floating in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Oppenheimer Senior and Rbb Fund 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 Rbb Fund are associated (or correlated) with Oppenheimer Senior. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Oppenheimer Senior has no effect on the direction of Rbb Fund i.e., Rbb Fund and Oppenheimer Senior go up and down completely randomly.
Pair Corralation between Rbb Fund and Oppenheimer Senior
Assuming the 90 days horizon Rbb Fund is expected to generate 1.3 times less return on investment than Oppenheimer Senior. But when comparing it to its historical volatility, Rbb Fund is 1.02 times less risky than Oppenheimer Senior. It trades about 0.1 of its potential returns per unit of risk. Oppenheimer Senior Floating is currently generating about 0.13 of returns per unit of risk over similar time horizon. If you would invest 633.00 in Oppenheimer Senior Floating on August 28, 2025 and sell it today you would earn a total of 12.00 from holding Oppenheimer Senior Floating or generate 1.9% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 98.44% |
| Values | Daily Returns |
Rbb Fund vs. Oppenheimer Senior Floating
Performance |
| Timeline |
| Rbb Fund |
| Oppenheimer Senior |
Rbb Fund and Oppenheimer Senior Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Rbb Fund and Oppenheimer Senior
The main advantage of trading using opposite Rbb Fund and Oppenheimer Senior positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Rbb Fund position performs unexpectedly, Oppenheimer Senior 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 Oppenheimer Senior will offset losses from the drop in Oppenheimer Senior's long position.| Rbb Fund vs. Sterling Capital Behavioral | Rbb Fund vs. Gmo Global Developed | Rbb Fund vs. Enhanced Large Pany | Rbb Fund vs. Ab Global Risk |
| Oppenheimer Senior vs. Oppenheimer Main Street | Oppenheimer Senior vs. Oppenheimer Intl Small | Oppenheimer Senior vs. Oppenheimer Main Street | Oppenheimer Senior vs. Oppenheimer Global Strtgc |
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 Bonds Directory module to find actively traded corporate debentures issued by US companies.
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