Correlation Between Hydrogen Freehold and LH Shopping
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By analyzing existing cross correlation between Hydrogen Freehold Leasehold and LH Shopping Centers, you can compare the effects of market volatilities on Hydrogen Freehold and LH Shopping 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 Hydrogen Freehold with a short position of LH Shopping. Check out your portfolio center. Please also check ongoing floating volatility patterns of Hydrogen Freehold and LH Shopping.
Diversification Opportunities for Hydrogen Freehold and LH Shopping
0.16 | Correlation Coefficient |
Average diversification
The 3 months correlation between Hydrogen and LHSC is 0.16. Overlapping area represents the amount of risk that can be diversified away by holding Hydrogen Freehold Leasehold and LH Shopping Centers in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on LH Shopping Centers and Hydrogen Freehold 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 Hydrogen Freehold Leasehold are associated (or correlated) with LH Shopping. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of LH Shopping Centers has no effect on the direction of Hydrogen Freehold i.e., Hydrogen Freehold and LH Shopping go up and down completely randomly.
Pair Corralation between Hydrogen Freehold and LH Shopping
Assuming the 90 days trading horizon Hydrogen Freehold is expected to generate 3.64 times less return on investment than LH Shopping. But when comparing it to its historical volatility, Hydrogen Freehold Leasehold is 1.24 times less risky than LH Shopping. It trades about 0.02 of its potential returns per unit of risk. LH Shopping Centers is currently generating about 0.05 of returns per unit of risk over similar time horizon. If you would invest 836.00 in LH Shopping Centers on September 2, 2024 and sell it today you would earn a total of 294.00 from holding LH Shopping Centers or generate 35.17% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 99.59% |
| Values | Daily Returns |
Hydrogen Freehold Leasehold vs. LH Shopping Centers
Performance |
| Timeline |
| Hydrogen Freehold |
| LH Shopping Centers |
Hydrogen Freehold and LH Shopping Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Hydrogen Freehold and LH Shopping
The main advantage of trading using opposite Hydrogen Freehold and LH Shopping positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Hydrogen Freehold position performs unexpectedly, LH Shopping 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 LH Shopping will offset losses from the drop in LH Shopping's long position.| Hydrogen Freehold vs. LH Shopping Centers | Hydrogen Freehold vs. HEMARAJ INDUSTRIAL PROPERTY | Hydrogen Freehold vs. Land and Houses |
| LH Shopping vs. LH Hotel Leasehold | LH Shopping vs. Impact Growth REIT | LH Shopping vs. Quality Houses Property | LH Shopping vs. CPN Retail Growth |
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 Technical Analysis module to check basic technical indicators and analysis based on most latest market data.
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