Correlation Between Angel Oak and Simt High
Can any of the company-specific risk be diversified away by investing in both Angel Oak and Simt 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 Angel Oak and Simt High into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Angel Oak Financial and Simt High Yield, you can compare the effects of market volatilities on Angel Oak and Simt 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 Angel Oak with a short position of Simt High. Check out your portfolio center. Please also check ongoing floating volatility patterns of Angel Oak and Simt High.
Diversification Opportunities for Angel Oak and Simt High
Poor diversification
The 3 months correlation between Angel and Simt is 0.72. Overlapping area represents the amount of risk that can be diversified away by holding Angel Oak Financial and Simt High Yield in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Simt High Yield and Angel 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 Angel Oak Financial are associated (or correlated) with Simt High. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Simt High Yield has no effect on the direction of Angel Oak i.e., Angel Oak and Simt High go up and down completely randomly.
Pair Corralation between Angel Oak and Simt High
Assuming the 90 days horizon Angel Oak is expected to generate 8.58 times less return on investment than Simt High. In addition to that, Angel Oak is 1.15 times more volatile than Simt High Yield. It trades about 0.01 of its total potential returns per unit of risk. Simt High Yield is currently generating about 0.14 per unit of volatility. If you would invest 428.00 in Simt High Yield on June 12, 2025 and sell it today you would earn a total of 89.00 from holding Simt High Yield or generate 20.79% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Angel Oak Financial vs. Simt High Yield
Performance |
| Timeline |
| Angel Oak Financial |
| Simt High Yield |
Angel Oak and Simt High Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Angel Oak and Simt High
The main advantage of trading using opposite Angel Oak and Simt High positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Angel Oak position performs unexpectedly, Simt 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 Simt High will offset losses from the drop in Simt High's long position.| Angel Oak vs. Vanguard Total Stock | Angel Oak vs. Vanguard 500 Index | Angel Oak vs. Vanguard Total Stock | Angel Oak vs. Vanguard Total Stock |
| Simt High vs. Prudential Financial Services | Simt High vs. Profunds Money | Simt High vs. Ab Government Exchange | Simt High vs. Gabelli Global Financial |
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 Portfolio Dashboard module to portfolio dashboard that provides centralized access to all your investments.
Other Complementary Tools
| Analyst Advice Analyst recommendations and target price estimates broken down by several categories | |
| Sign In To Macroaxis Sign in to explore Macroaxis' wealth optimization platform and fintech modules | |
| Latest Portfolios Quick portfolio dashboard that showcases your latest portfolios | |
| ETF Categories List of ETF categories grouped based on various criteria, such as the investment strategy or type of investments | |
| Piotroski F Score Get Piotroski F Score based on the binary analysis strategy of nine different fundamentals |