Correlation Between Lebenthal Lisanti and Qs Growth
Can any of the company-specific risk be diversified away by investing in both Lebenthal Lisanti and Qs Growth 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 Lebenthal Lisanti and Qs Growth into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Lebenthal Lisanti Small and Qs Growth Fund, you can compare the effects of market volatilities on Lebenthal Lisanti and Qs Growth 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 Lebenthal Lisanti with a short position of Qs Growth. Check out your portfolio center. Please also check ongoing floating volatility patterns of Lebenthal Lisanti and Qs Growth.
Diversification Opportunities for Lebenthal Lisanti and Qs Growth
0.62 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Lebenthal and LANIX is 0.62. Overlapping area represents the amount of risk that can be diversified away by holding Lebenthal Lisanti Small and Qs Growth Fund in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Qs Growth Fund and Lebenthal Lisanti 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 Lebenthal Lisanti Small are associated (or correlated) with Qs Growth. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Qs Growth Fund has no effect on the direction of Lebenthal Lisanti i.e., Lebenthal Lisanti and Qs Growth go up and down completely randomly.
Pair Corralation between Lebenthal Lisanti and Qs Growth
Assuming the 90 days horizon Lebenthal Lisanti Small is expected to generate 0.99 times more return on investment than Qs Growth. However, Lebenthal Lisanti Small is 1.01 times less risky than Qs Growth. It trades about -0.12 of its potential returns per unit of risk. Qs Growth Fund is currently generating about -0.27 per unit of risk. If you would invest 2,239 in Lebenthal Lisanti Small on October 12, 2024 and sell it today you would lose (81.00) from holding Lebenthal Lisanti Small or give up 3.62% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Lebenthal Lisanti Small vs. Qs Growth Fund
Performance |
| Timeline |
| Lebenthal Lisanti Small |
| Qs Growth Fund |
Lebenthal Lisanti and Qs Growth Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Lebenthal Lisanti and Qs Growth
The main advantage of trading using opposite Lebenthal Lisanti and Qs Growth positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Lebenthal Lisanti position performs unexpectedly, Qs Growth 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 Qs Growth will offset losses from the drop in Qs Growth's long position.| Lebenthal Lisanti vs. Lord Abbett Growth | Lebenthal Lisanti vs. Queens Road Small | Lebenthal Lisanti vs. Eaton Vance Large Cap |
| Qs Growth vs. Ab Small Cap | Qs Growth vs. Lebenthal Lisanti Small | Qs Growth vs. Glg Intl Small | Qs Growth vs. Rbc Small Cap |
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 Price Ceiling Movement module to calculate and plot Price Ceiling Movement for different equity instruments.
Other Complementary Tools
| Piotroski F Score Get Piotroski F Score based on the binary analysis strategy of nine different fundamentals | |
| Commodity Directory Find actively traded commodities issued by global exchanges | |
| Latest Portfolios Quick portfolio dashboard that showcases your latest portfolios | |
| Top Crypto Exchanges Search and analyze digital assets across top global cryptocurrency exchanges | |
| Performance Analysis Check effects of mean-variance optimization against your current asset allocation |