Correlation Between Pender Real and Natixis Oakmark
Can any of the company-specific risk be diversified away by investing in both Pender Real and Natixis Oakmark 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 Pender Real and Natixis Oakmark into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Pender Real Estate and Natixis Oakmark International, you can compare the effects of market volatilities on Pender Real and Natixis Oakmark 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 Pender Real with a short position of Natixis Oakmark. Check out your portfolio center. Please also check ongoing floating volatility patterns of Pender Real and Natixis Oakmark.
Diversification Opportunities for Pender Real and Natixis Oakmark
0.42 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Pender and Natixis is 0.42. Overlapping area represents the amount of risk that can be diversified away by holding Pender Real Estate and Natixis Oakmark International in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Natixis Oakmark Inte and Pender Real 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 Pender Real Estate are associated (or correlated) with Natixis Oakmark. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Natixis Oakmark Inte has no effect on the direction of Pender Real i.e., Pender Real and Natixis Oakmark go up and down completely randomly.
Pair Corralation between Pender Real and Natixis Oakmark
Assuming the 90 days horizon Pender Real is expected to generate 1.88 times less return on investment than Natixis Oakmark. But when comparing it to its historical volatility, Pender Real Estate is 22.21 times less risky than Natixis Oakmark. It trades about 0.61 of its potential returns per unit of risk. Natixis Oakmark International is currently generating about 0.05 of returns per unit of risk over similar time horizon. If you would invest 1,629 in Natixis Oakmark International on June 10, 2025 and sell it today you would earn a total of 48.00 from holding Natixis Oakmark International or generate 2.95% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Pender Real Estate vs. Natixis Oakmark International
Performance |
| Timeline |
| Pender Real Estate |
| Natixis Oakmark Inte |
Pender Real and Natixis Oakmark Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Pender Real and Natixis Oakmark
The main advantage of trading using opposite Pender Real and Natixis Oakmark positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Pender Real position performs unexpectedly, Natixis Oakmark 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 Natixis Oakmark will offset losses from the drop in Natixis Oakmark's long position.| Pender Real vs. Vanguard Strategic Small Cap | Pender Real vs. Tiaa Cref Small Cap Equity | Pender Real vs. American Century Diversified | Pender Real vs. Fuller Thaler Behavioral |
| Natixis Oakmark vs. Dreyfusstandish Global Fixed | Natixis Oakmark vs. Dreyfusstandish Global Fixed | Natixis Oakmark vs. Alliancebernstein Global Highome | Natixis Oakmark vs. Legg Mason Global |
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 Earnings Calls module to check upcoming earnings announcements updated hourly across public exchanges.
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