Correlation Between Dicker Data and Land Homes
Can any of the company-specific risk be diversified away by investing in both Dicker Data and Land Homes 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 Dicker Data and Land Homes into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Dicker Data and Land Homes Group, you can compare the effects of market volatilities on Dicker Data and Land Homes 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 Dicker Data with a short position of Land Homes. Check out your portfolio center. Please also check ongoing floating volatility patterns of Dicker Data and Land Homes.
Diversification Opportunities for Dicker Data and Land Homes
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Dicker and Land is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Dicker Data and Land Homes Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Land Homes Group and Dicker Data 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 Dicker Data are associated (or correlated) with Land Homes. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Land Homes Group has no effect on the direction of Dicker Data i.e., Dicker Data and Land Homes go up and down completely randomly.
Pair Corralation between Dicker Data and Land Homes
If you would invest 0.70 in Land Homes Group on August 29, 2024 and sell it today you would earn a total of 0.00 from holding Land Homes Group 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 |
Dicker Data vs. Land Homes Group
Performance |
| Timeline |
| Dicker Data |
| Land Homes Group |
Dicker Data and Land Homes Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Dicker Data and Land Homes
The main advantage of trading using opposite Dicker Data and Land Homes positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Dicker Data position performs unexpectedly, Land Homes 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 Land Homes will offset losses from the drop in Land Homes' long position.| Dicker Data vs. PVW Resources | Dicker Data vs. Woolworths | Dicker Data vs. Wesfarmers | Dicker Data vs. Coles Group |
| Land Homes vs. Australian Unity Office | Land Homes vs. Champion Iron | Land Homes vs. Ridley | Land Homes vs. Peel Mining |
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 Stock Tickers module to use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites.
Other Complementary Tools
| Commodity Directory Find actively traded commodities issued by global exchanges | |
| Instant Ratings Determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
| Aroon Oscillator Analyze current equity momentum using Aroon Oscillator and other momentum ratios | |
| Premium Stories Follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope | |
| Volatility Analysis Get historical volatility and risk analysis based on latest market data |