Correlation Between Renaissancere Holdings and Oxbridge
Can any of the company-specific risk be diversified away by investing in both Renaissancere Holdings and Oxbridge 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 Renaissancere Holdings and Oxbridge into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Renaissancere Holdings and Oxbridge Re Holdings, you can compare the effects of market volatilities on Renaissancere Holdings and Oxbridge 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 Renaissancere Holdings with a short position of Oxbridge. Check out your portfolio center. Please also check ongoing floating volatility patterns of Renaissancere Holdings and Oxbridge.
Diversification Opportunities for Renaissancere Holdings and Oxbridge
-0.67 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Renaissancere and Oxbridge is -0.67. Overlapping area represents the amount of risk that can be diversified away by holding Renaissancere Holdings and Oxbridge Re Holdings in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Oxbridge Re Holdings and Renaissancere Holdings 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 Renaissancere Holdings are associated (or correlated) with Oxbridge. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Oxbridge Re Holdings has no effect on the direction of Renaissancere Holdings i.e., Renaissancere Holdings and Oxbridge go up and down completely randomly.
Pair Corralation between Renaissancere Holdings and Oxbridge
Considering the 90-day investment horizon Renaissancere Holdings is expected to generate 0.34 times more return on investment than Oxbridge. However, Renaissancere Holdings is 2.96 times less risky than Oxbridge. It trades about 0.11 of its potential returns per unit of risk. Oxbridge Re Holdings is currently generating about -0.19 per unit of risk. If you would invest 24,350 in Renaissancere Holdings on September 13, 2025 and sell it today you would earn a total of 2,689 from holding Renaissancere Holdings or generate 11.04% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Renaissancere Holdings vs. Oxbridge Re Holdings
Performance |
| Timeline |
| Renaissancere Holdings |
| Oxbridge Re Holdings |
Renaissancere Holdings and Oxbridge Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Renaissancere Holdings and Oxbridge
The main advantage of trading using opposite Renaissancere Holdings and Oxbridge positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Renaissancere Holdings position performs unexpectedly, Oxbridge 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 Oxbridge will offset losses from the drop in Oxbridge's long position.| Renaissancere Holdings vs. Reinsurance Group of | Renaissancere Holdings vs. Aegon NV ADR | Renaissancere Holdings vs. Everest Group | Renaissancere Holdings vs. Unum Group |
| Oxbridge vs. CNFinance Holdings | Oxbridge vs. Carver Bancorp | Oxbridge vs. Fanhua Inc | Oxbridge vs. Garden Stage Limited |
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 Commodity Directory module to find actively traded commodities issued by global exchanges.
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