Correlation Between Khiron Life and Lendlease
Can any of the company-specific risk be diversified away by investing in both Khiron Life and Lendlease 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 Khiron Life and Lendlease into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Khiron Life Sciences and Lendlease Group, you can compare the effects of market volatilities on Khiron Life and Lendlease 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 Khiron Life with a short position of Lendlease. Check out your portfolio center. Please also check ongoing floating volatility patterns of Khiron Life and Lendlease.
Diversification Opportunities for Khiron Life and Lendlease
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Khiron and Lendlease is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Khiron Life Sciences and Lendlease Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Lendlease Group and Khiron Life 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 Khiron Life Sciences are associated (or correlated) with Lendlease. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Lendlease Group has no effect on the direction of Khiron Life i.e., Khiron Life and Lendlease go up and down completely randomly.
Pair Corralation between Khiron Life and Lendlease
If you would invest 2.16 in Khiron Life Sciences on November 2, 2024 and sell it today you would earn a total of 0.00 from holding Khiron Life Sciences or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Khiron Life Sciences vs. Lendlease Group
Performance |
| Timeline |
| Khiron Life Sciences |
| Lendlease Group |
Khiron Life and Lendlease Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Khiron Life and Lendlease
The main advantage of trading using opposite Khiron Life and Lendlease positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Khiron Life position performs unexpectedly, Lendlease 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 Lendlease will offset losses from the drop in Lendlease's long position.| Khiron Life vs. OPKO HEALTH | Khiron Life vs. CARDINAL HEALTH | Khiron Life vs. Laureate Education | Khiron Life vs. RCI Hospitality Holdings |
| Lendlease vs. Phibro Animal Health | Lendlease vs. AOI Electronics Co | Lendlease vs. TT Electronics PLC | Lendlease vs. Renesas Electronics |
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 ETFs module to find actively traded Exchange Traded Funds (ETF) from around the world.
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