Correlation Between Solid Impact and Olympia Financial

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Can any of the company-specific risk be diversified away by investing in both Solid Impact and Olympia Financial 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 Solid Impact and Olympia Financial into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Solid Impact Investments and Olympia Financial Group, you can compare the effects of market volatilities on Solid Impact and Olympia Financial 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 Solid Impact with a short position of Olympia Financial. Check out your portfolio center. Please also check ongoing floating volatility patterns of Solid Impact and Olympia Financial.

Diversification Opportunities for Solid Impact and Olympia Financial

SolidOlympiaDiversified AwaySolidOlympiaDiversified Away100%
0.0
  Correlation Coefficient

Pay attention - limited upside

The 3 months correlation between Solid and Olympia is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Solid Impact Investments and Olympia Financial Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Olympia Financial and Solid Impact 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 Solid Impact Investments are associated (or correlated) with Olympia Financial. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Olympia Financial has no effect on the direction of Solid Impact i.e., Solid Impact and Olympia Financial go up and down completely randomly.

Pair Corralation between Solid Impact and Olympia Financial

If you would invest  9,681  in Olympia Financial Group on September 26, 2024 and sell it today you would earn a total of  1,219  from holding Olympia Financial Group or generate 12.59% return on investment over 90 days.
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Solid Impact Investments  vs.  Olympia Financial Group

 Performance 
JavaScript chart by amCharts 3.21.15OctNovDec -4-20246810
JavaScript chart by amCharts 3.21.15SOLI-P OLY
       Timeline  
Solid Impact Investments 

Risk-Adjusted Performance

0 of 100

 
Weak
 
Strong
Very Weak
Over the last 90 days Solid Impact Investments has generated negative risk-adjusted returns adding no value to investors with long positions. Despite somewhat strong basic indicators, Solid Impact is not utilizing all of its potentials. The recent stock price disturbance, may contribute to short-term losses for the investors.
JavaScript chart by amCharts 3.21.15OctNovDecNovDec0.050.0505
Olympia Financial 

Risk-Adjusted Performance

11 of 100

 
Weak
 
Strong
Good
Compared to the overall equity markets, risk-adjusted returns on investments in Olympia Financial Group are ranked lower than 11 (%) of all global equities and portfolios over the last 90 days. In spite of very unfluctuating basic indicators, Olympia Financial may actually be approaching a critical reversion point that can send shares even higher in January 2025.
JavaScript chart by amCharts 3.21.15OctNovDecNovDec95100105110

Solid Impact and Olympia Financial Volatility Contrast

   Predicted Return Density   
JavaScript chart by amCharts 3.21.15 0.050.100.150.20
JavaScript chart by amCharts 3.21.15SOLI-P OLY
       Returns  

Pair Trading with Solid Impact and Olympia Financial

The main advantage of trading using opposite Solid Impact and Olympia Financial positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Solid Impact position performs unexpectedly, Olympia Financial 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 Olympia Financial will offset losses from the drop in Olympia Financial's long position.
The idea behind Solid Impact Investments and Olympia Financial Group pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.
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 Transaction History module to view history of all your transactions and understand their impact on performance.

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