Correlation Between Citizens Bancorp and Lep Technology
Can any of the company-specific risk be diversified away by investing in both Citizens Bancorp and Lep Technology 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 Citizens Bancorp and Lep Technology into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Citizens Bancorp Investment and Lep Technology, you can compare the effects of market volatilities on Citizens Bancorp and Lep Technology 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 Citizens Bancorp with a short position of Lep Technology. Check out your portfolio center. Please also check ongoing floating volatility patterns of Citizens Bancorp and Lep Technology.
Diversification Opportunities for Citizens Bancorp and Lep Technology
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Citizens and Lep is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Citizens Bancorp Investment and Lep Technology in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Lep Technology and Citizens Bancorp 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 Citizens Bancorp Investment are associated (or correlated) with Lep Technology. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Lep Technology has no effect on the direction of Citizens Bancorp i.e., Citizens Bancorp and Lep Technology go up and down completely randomly.
Pair Corralation between Citizens Bancorp and Lep Technology
If you would invest 2,200 in Citizens Bancorp Investment on September 12, 2024 and sell it today you would earn a total of 355.00 from holding Citizens Bancorp Investment or generate 16.14% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 95.45% |
| Values | Daily Returns |
Citizens Bancorp Investment vs. Lep Technology
Performance |
| Timeline |
| Citizens Bancorp Inv |
| Lep Technology |
Citizens Bancorp and Lep Technology Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Citizens Bancorp and Lep Technology
The main advantage of trading using opposite Citizens Bancorp and Lep Technology positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Citizens Bancorp position performs unexpectedly, Lep Technology 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 Lep Technology will offset losses from the drop in Lep Technology's long position.| Citizens Bancorp vs. PT Bank Rakyat | Citizens Bancorp vs. Morningstar Unconstrained Allocation | Citizens Bancorp vs. Bondbloxx ETF Trust | Citizens Bancorp vs. Spring Valley Acquisition |
| Lep Technology vs. Reservoir Media | Lep Technology vs. Citizens Bancorp Investment | Lep Technology vs. Alchemy Investments Acquisition | Lep Technology vs. Alvarium Tiedemann Holdings |
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 USA ETFs module to find actively traded Exchange Traded Funds (ETF) in USA.
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