Correlation Between Foresight Autonomous and Oron Group

Can any of the company-specific risk be diversified away by investing in both Foresight Autonomous and Oron Group 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 Foresight Autonomous and Oron Group into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between Foresight Autonomous Holdings and Oron Group Investments, you can compare the effects of market volatilities on Foresight Autonomous and Oron Group 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 Foresight Autonomous with a short position of Oron Group. Check out your portfolio center. Please also check ongoing floating volatility patterns of Foresight Autonomous and Oron Group.

Diversification Opportunities for Foresight Autonomous and Oron Group

-0.77

Correlation Coefficient

Foresight Autonomous  Oron Group

Pay attention - limited upside

The 3 months correlation between Foresight and Oron is -0.77. Overlapping area represents the amount of risk that can be diversified away by holding Foresight Autonomous Holdings and Oron Group Investments in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Oron Group Investments and Foresight Autonomous 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 Foresight Autonomous Holdings are associated (or correlated) with Oron Group. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Oron Group Investments has no effect on the direction of Foresight Autonomous i.e., Foresight Autonomous and Oron Group go up and down completely randomly.

Pair Corralation between Foresight Autonomous and Oron Group

Assuming the 90 days trading horizon Foresight Autonomous Holdings is expected to under-perform the Oron Group. In addition to that, Foresight Autonomous is 2.84 times more volatile than Oron Group Investments. It trades about -0.13 of its total potential returns per unit of risk. Oron Group Investments is currently generating about -0.16 per unit of volatility. If you would invest  122,700  in Oron Group Investments on April 25, 2025 and sell it today you would lose (5,700) from holding Oron Group Investments or give up 4.65% of portfolio value over 90 days.

Time Period	3 Months [change]
Direction	Moves Against
Strength	Weak
Accuracy	100.0%
Values	Daily Returns

Foresight Autonomous Holdings  vs.  Oron Group Investments

Foresight Autonomous

Risk-Adjusted Performance

Very Weak

Over the last 90 days Foresight Autonomous Holdings has generated negative risk-adjusted returns adding no value to investors with long positions. Despite weak performance in the last few months, the Stock's basic indicators remain somewhat strong which may send shares a bit higher in August 2025. The current disturbance may also be a sign of long term up-swing for the company investors.

Oron Group Investments

Risk-Adjusted Performance

OK

Compared to the overall equity markets, risk-adjusted returns on investments in Oron Group Investments are ranked lower than 8 (%) of all global equities and portfolios over the last 90 days. Despite somewhat weak basic indicators, Oron Group sustained solid returns over the last few months and may actually be approaching a breakup point.

Pair Trading with Foresight Autonomous and Oron Group

The main advantage of trading using opposite Foresight Autonomous and Oron Group positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Foresight Autonomous position performs unexpectedly, Oron Group 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 Oron Group will offset losses from the drop in Oron Group's long position.

The idea behind Foresight Autonomous Holdings and Oron Group Investments 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.

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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 Financial Widgets module to easily integrated Macroaxis content with over 30 different plug-and-play financial widgets.