Correlation Between Femasys and LOWES
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By analyzing existing cross correlation between Femasys and LOWES PANIES INC, you can compare the effects of market volatilities on Femasys and LOWES 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 Femasys with a short position of LOWES. Check out your portfolio center. Please also check ongoing floating volatility patterns of Femasys and LOWES.
Diversification Opportunities for Femasys and LOWES
Modest diversification
The 3 months correlation between Femasys and LOWES is 0.23. Overlapping area represents the amount of risk that can be diversified away by holding Femasys and LOWES PANIES INC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on LOWES PANIES INC and Femasys 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 Femasys are associated (or correlated) with LOWES. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of LOWES PANIES INC has no effect on the direction of Femasys i.e., Femasys and LOWES go up and down completely randomly.
Pair Corralation between Femasys and LOWES
Given the investment horizon of 90 days Femasys is expected to generate 12.68 times more return on investment than LOWES. However, Femasys is 12.68 times more volatile than LOWES PANIES INC. It trades about 0.23 of its potential returns per unit of risk. LOWES PANIES INC is currently generating about -0.22 per unit of risk. If you would invest 103.00 in Femasys on September 13, 2024 and sell it today you would earn a total of 21.00 from holding Femasys or generate 20.39% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Femasys vs. LOWES PANIES INC
Performance |
| Timeline |
| Femasys |
| LOWES PANIES INC |
Femasys and LOWES Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Femasys and LOWES
The main advantage of trading using opposite Femasys and LOWES positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Femasys position performs unexpectedly, LOWES 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 LOWES will offset losses from the drop in LOWES's long position.| Femasys vs. Precision Optics, | Femasys vs. Repro Med Systems | Femasys vs. InfuSystems Holdings | Femasys vs. Utah Medical Products |
| LOWES vs. Hudson Technologies | LOWES vs. Forsys Metals Corp | LOWES vs. Codexis | LOWES vs. Flexible Solutions International |
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 Volatility Analysis module to get historical volatility and risk analysis based on latest market data.
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