Correlation Between GoHealth and LBTCOR
Specify exactly 2 symbols:
By analyzing existing cross correlation between GoHealth and LBTCOR 10875 15 JAN 31, you can compare the effects of market volatilities on GoHealth and LBTCOR 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 GoHealth with a short position of LBTCOR. Check out your portfolio center. Please also check ongoing floating volatility patterns of GoHealth and LBTCOR.
Diversification Opportunities for GoHealth and LBTCOR
Poor diversification
The 3 months correlation between GoHealth and LBTCOR is 0.63. Overlapping area represents the amount of risk that can be diversified away by holding GoHealth and LBTCOR 10875 15 JAN 31 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on LBTCOR 10875 15 and GoHealth 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 GoHealth are associated (or correlated) with LBTCOR. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of LBTCOR 10875 15 has no effect on the direction of GoHealth i.e., GoHealth and LBTCOR go up and down completely randomly.
Pair Corralation between GoHealth and LBTCOR
Given the investment horizon of 90 days GoHealth is expected to under-perform the LBTCOR. In addition to that, GoHealth is 1.93 times more volatile than LBTCOR 10875 15 JAN 31. It trades about -0.01 of its total potential returns per unit of risk. LBTCOR 10875 15 JAN 31 is currently generating about 0.04 per unit of volatility. If you would invest 10,150 in LBTCOR 10875 15 JAN 31 on September 12, 2024 and sell it today you would earn a total of 574.00 from holding LBTCOR 10875 15 JAN 31 or generate 5.66% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 20.74% |
| Values | Daily Returns |
GoHealth vs. LBTCOR 10875 15 JAN 31
Performance |
| Timeline |
| GoHealth |
| LBTCOR 10875 15 |
GoHealth and LBTCOR Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with GoHealth and LBTCOR
The main advantage of trading using opposite GoHealth and LBTCOR positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if GoHealth position performs unexpectedly, LBTCOR 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 LBTCOR will offset losses from the drop in LBTCOR's long position.| GoHealth vs. eHealth | GoHealth vs. Tian Ruixiang Holdings | GoHealth vs. Huize Holding | GoHealth vs. Selectquote |
| LBTCOR vs. Shake Shack | LBTCOR vs. Freedom Holding Corp | LBTCOR vs. Yum Brands | LBTCOR vs. SBM Offshore NV |
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 Instant Ratings module to determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance.
Other Complementary Tools
| Global Markets Map Get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes | |
| Equity Analysis Research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities | |
| ETF Categories List of ETF categories grouped based on various criteria, such as the investment strategy or type of investments | |
| Content Syndication Quickly integrate customizable finance content to your own investment portal | |
| Positions Ratings Determine portfolio positions ratings based on digital equity recommendations. Macroaxis instant position ratings are based on combination of fundamental analysis and risk-adjusted market performance |