Correlation Between Sharetronic Data and Lecron Energy
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By analyzing existing cross correlation between Sharetronic Data Technology and Lecron Energy Saving, you can compare the effects of market volatilities on Sharetronic Data and Lecron Energy 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 Sharetronic Data with a short position of Lecron Energy. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sharetronic Data and Lecron Energy.
Diversification Opportunities for Sharetronic Data and Lecron Energy
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Sharetronic and Lecron is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Sharetronic Data Technology and Lecron Energy Saving in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Lecron Energy Saving and Sharetronic Data 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 Sharetronic Data Technology are associated (or correlated) with Lecron Energy. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Lecron Energy Saving has no effect on the direction of Sharetronic Data i.e., Sharetronic Data and Lecron Energy go up and down completely randomly.
Pair Corralation between Sharetronic Data and Lecron Energy
Assuming the 90 days trading horizon Sharetronic Data Technology is expected to under-perform the Lecron Energy. In addition to that, Sharetronic Data is 1.92 times more volatile than Lecron Energy Saving. It trades about -0.15 of its total potential returns per unit of risk. Lecron Energy Saving is currently generating about 0.18 per unit of volatility. If you would invest 542.00 in Lecron Energy Saving on November 8, 2024 and sell it today you would earn a total of 44.00 from holding Lecron Energy Saving or generate 8.12% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Sharetronic Data Technology vs. Lecron Energy Saving
Performance |
| Timeline |
| Sharetronic Data Tec |
Risk-Adjusted Performance
Very Weak
Weak | Strong |
| Lecron Energy Saving |
Risk-Adjusted Performance
Very Weak
Weak | Strong |
Sharetronic Data and Lecron Energy Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Sharetronic Data and Lecron Energy
The main advantage of trading using opposite Sharetronic Data and Lecron Energy positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sharetronic Data position performs unexpectedly, Lecron Energy 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 Lecron Energy will offset losses from the drop in Lecron Energy's long position.The idea behind Sharetronic Data Technology and Lecron Energy Saving 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 Volatility Analysis module to get historical volatility and risk analysis based on latest market data.
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