Correlation Between Lotus Health and Poten Environment
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By analyzing existing cross correlation between Lotus Health Group and Poten Environment Group, you can compare the effects of market volatilities on Lotus Health and Poten Environment 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 Lotus Health with a short position of Poten Environment. Check out your portfolio center. Please also check ongoing floating volatility patterns of Lotus Health and Poten Environment.
Diversification Opportunities for Lotus Health and Poten Environment
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Lotus and Poten is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Lotus Health Group and Poten Environment Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Poten Environment and Lotus Health 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 Lotus Health Group are associated (or correlated) with Poten Environment. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Poten Environment has no effect on the direction of Lotus Health i.e., Lotus Health and Poten Environment go up and down completely randomly.
Pair Corralation between Lotus Health and Poten Environment
If you would invest 297.00 in Lotus Health Group on August 24, 2024 and sell it today you would earn a total of 201.00 from holding Lotus Health Group or generate 67.68% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Lotus Health Group vs. Poten Environment Group
Performance |
| Timeline |
| Lotus Health Group |
| Poten Environment |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Lotus Health and Poten Environment Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Lotus Health and Poten Environment
The main advantage of trading using opposite Lotus Health and Poten Environment positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Lotus Health position performs unexpectedly, Poten Environment 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 Poten Environment will offset losses from the drop in Poten Environment's long position.| 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 |
| Poten Environment vs. Ningbo Ligong Online | Poten Environment vs. Everdisplay Optronics Shanghai | Poten Environment vs. Lotus Health Group | Poten Environment vs. Citic Guoan Wine |
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 Top Crypto Exchanges module to search and analyze digital assets across top global cryptocurrency exchanges.
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