Correlation Between Beta MWIG40TR and LPP SA
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By analyzing existing cross correlation between Beta mWIG40TR Portfelowy and LPP SA, you can compare the effects of market volatilities on Beta MWIG40TR and LPP SA 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 Beta MWIG40TR with a short position of LPP SA. Check out your portfolio center. Please also check ongoing floating volatility patterns of Beta MWIG40TR and LPP SA.
Diversification Opportunities for Beta MWIG40TR and LPP SA
0.15 | Correlation Coefficient |
Average diversification
The 3 months correlation between Beta and LPP is 0.15. Overlapping area represents the amount of risk that can be diversified away by holding Beta mWIG40TR Portfelowy and LPP SA in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on LPP SA and Beta MWIG40TR 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 Beta mWIG40TR Portfelowy are associated (or correlated) with LPP SA. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of LPP SA has no effect on the direction of Beta MWIG40TR i.e., Beta MWIG40TR and LPP SA go up and down completely randomly.
Pair Corralation between Beta MWIG40TR and LPP SA
Assuming the 90 days trading horizon Beta mWIG40TR Portfelowy is expected to under-perform the LPP SA. But the etf apears to be less risky and, when comparing its historical volatility, Beta mWIG40TR Portfelowy is 2.93 times less risky than LPP SA. The etf trades about -0.01 of its potential returns per unit of risk. The LPP SA is currently generating about 0.0 of returns per unit of risk over similar time horizon. If you would invest 1,562,000 in LPP SA on August 30, 2024 and sell it today you would lose (7,000) from holding LPP SA or give up 0.45% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Beta mWIG40TR Portfelowy vs. LPP SA
Performance |
| Timeline |
| Beta mWIG40TR Portfelowy |
| LPP SA |
Beta MWIG40TR and LPP SA Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Beta MWIG40TR and LPP SA
The main advantage of trading using opposite Beta MWIG40TR and LPP SA positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Beta MWIG40TR position performs unexpectedly, LPP SA 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 LPP SA will offset losses from the drop in LPP SA's long position.| Beta MWIG40TR vs. Beta ETF Nasdaq 100 | Beta MWIG40TR vs. Beta ETF Nasdaq 100 | Beta MWIG40TR vs. Beta WIG20TR Portfelowy | Beta MWIG40TR vs. Beta ETF WIG20Short |
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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 Fundamental Analysis module to view fundamental data based on most recent published financial statements.
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