Correlation Between Sportsoul and Lotus Health
Specify exactly 2 symbols:
By analyzing existing cross correlation between Sportsoul Co Ltd and Lotus Health Group, you can compare the effects of market volatilities on Sportsoul and Lotus Health 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 Sportsoul with a short position of Lotus Health. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sportsoul and Lotus Health.
Diversification Opportunities for Sportsoul and Lotus Health
0.93 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Sportsoul and Lotus is 0.93. Overlapping area represents the amount of risk that can be diversified away by holding Sportsoul Co Ltd and Lotus Health Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Lotus Health Group and Sportsoul 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 Sportsoul Co Ltd are associated (or correlated) with Lotus Health. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Lotus Health Group has no effect on the direction of Sportsoul i.e., Sportsoul and Lotus Health go up and down completely randomly.
Pair Corralation between Sportsoul and Lotus Health
Assuming the 90 days trading horizon Sportsoul is expected to generate 1.2 times less return on investment than Lotus Health. But when comparing it to its historical volatility, Sportsoul Co Ltd is 1.13 times less risky than Lotus Health. It trades about 0.16 of its potential returns per unit of risk. Lotus Health Group is currently generating about 0.17 of returns per unit of risk over similar time horizon. If you would invest 428.00 in Lotus Health Group on August 24, 2024 and sell it today you would earn a total of 57.00 from holding Lotus Health Group or generate 13.32% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Sportsoul Co Ltd vs. Lotus Health Group
Performance |
| Timeline |
| Sportsoul |
| Lotus Health Group |
Sportsoul and Lotus Health Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Sportsoul and Lotus Health
The main advantage of trading using opposite Sportsoul and Lotus Health positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sportsoul position performs unexpectedly, Lotus Health 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 Lotus Health will offset losses from the drop in Lotus Health's long position.| Sportsoul vs. Kweichow Moutai Co | Sportsoul vs. Contemporary Amperex Technology | Sportsoul vs. G bits Network Technology | Sportsoul vs. Beijing Roborock Technology |
| Lotus Health vs. Aluminum Corp of | Lotus Health vs. COL Digital Publishing | Lotus Health vs. Shaanxi Meineng Clean | Lotus Health vs. Gansu Huangtai Wine marketing |
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 FinTech Suite module to use AI to screen and filter profitable investment opportunities.
Other Complementary Tools
| Stock Screener Find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook. | |
| Equity Search Search for actively traded equities including funds and ETFs from over 30 global markets | |
| Stocks Directory Find actively traded stocks across global markets | |
| Portfolio Center All portfolio management and optimization tools to improve performance of your portfolios | |
| Theme Ratings Determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance |