Correlation Between Lontium Semiconductor and Cloud Live
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By analyzing existing cross correlation between Lontium Semiconductor Corp and Cloud Live Technology, you can compare the effects of market volatilities on Lontium Semiconductor and Cloud Live 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 Lontium Semiconductor with a short position of Cloud Live. Check out your portfolio center. Please also check ongoing floating volatility patterns of Lontium Semiconductor and Cloud Live.
Diversification Opportunities for Lontium Semiconductor and Cloud Live
-0.42 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Lontium and Cloud is -0.42. Overlapping area represents the amount of risk that can be diversified away by holding Lontium Semiconductor Corp and Cloud Live Technology in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Cloud Live Technology and Lontium Semiconductor 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 Lontium Semiconductor Corp are associated (or correlated) with Cloud Live. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Cloud Live Technology has no effect on the direction of Lontium Semiconductor i.e., Lontium Semiconductor and Cloud Live go up and down completely randomly.
Pair Corralation between Lontium Semiconductor and Cloud Live
Assuming the 90 days trading horizon Lontium Semiconductor Corp is expected to generate 1.22 times more return on investment than Cloud Live. However, Lontium Semiconductor is 1.22 times more volatile than Cloud Live Technology. It trades about 0.29 of its potential returns per unit of risk. Cloud Live Technology is currently generating about -0.44 per unit of risk. If you would invest 7,287 in Lontium Semiconductor Corp on November 5, 2024 and sell it today you would earn a total of 1,697 from holding Lontium Semiconductor Corp or generate 23.29% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Lontium Semiconductor Corp vs. Cloud Live Technology
Performance |
| Timeline |
| Lontium Semiconductor |
| Cloud Live Technology |
Lontium Semiconductor and Cloud Live Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Lontium Semiconductor and Cloud Live
The main advantage of trading using opposite Lontium Semiconductor and Cloud Live positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Lontium Semiconductor position performs unexpectedly, Cloud Live 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 Cloud Live will offset losses from the drop in Cloud Live's long position.| Lontium Semiconductor vs. Lier Chemical Co | Lontium Semiconductor vs. Beijing Jiaman Dress | Lontium Semiconductor vs. Hubei Xingfa Chemicals | Lontium Semiconductor vs. Liuzhou Chemical Industry |
| Cloud Live vs. Linewell Software Co | Cloud Live vs. Qingdao Choho Industrial | Cloud Live vs. Gem Year Industrial Co | Cloud Live vs. Hainan Mining Co |
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 Portfolio File Import module to quickly import all of your third-party portfolios from your local drive in csv format.
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