Correlation Between Hyrican Informationssyst and Lendlease
Can any of the company-specific risk be diversified away by investing in both Hyrican Informationssyst and Lendlease 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 Hyrican Informationssyst and Lendlease into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Hyrican Informationssysteme Aktiengesellschaft and Lendlease Group, you can compare the effects of market volatilities on Hyrican Informationssyst and Lendlease 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 Hyrican Informationssyst with a short position of Lendlease. Check out your portfolio center. Please also check ongoing floating volatility patterns of Hyrican Informationssyst and Lendlease.
Diversification Opportunities for Hyrican Informationssyst and Lendlease
-0.56 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Hyrican and Lendlease is -0.56. Overlapping area represents the amount of risk that can be diversified away by holding Hyrican Informationssysteme Ak and Lendlease Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Lendlease Group and Hyrican Informationssyst 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 Hyrican Informationssysteme Aktiengesellschaft are associated (or correlated) with Lendlease. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Lendlease Group has no effect on the direction of Hyrican Informationssyst i.e., Hyrican Informationssyst and Lendlease go up and down completely randomly.
Pair Corralation between Hyrican Informationssyst and Lendlease
If you would invest 400.00 in Lendlease Group on September 2, 2024 and sell it today you would earn a total of 38.00 from holding Lendlease Group or generate 9.5% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Hyrican Informationssysteme Ak vs. Lendlease Group
Performance |
| Timeline |
| Hyrican Informationssyst |
| Lendlease Group |
Hyrican Informationssyst and Lendlease Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Hyrican Informationssyst and Lendlease
The main advantage of trading using opposite Hyrican Informationssyst and Lendlease positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Hyrican Informationssyst position performs unexpectedly, Lendlease 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 Lendlease will offset losses from the drop in Lendlease's long position.| Hyrican Informationssyst vs. STRAYER EDUCATION | Hyrican Informationssyst vs. Adtalem Global Education | Hyrican Informationssyst vs. Commercial Vehicle Group | Hyrican Informationssyst vs. FLOW TRADERS LTD |
| Lendlease vs. FARO Technologies | Lendlease vs. Cass Information Systems | Lendlease vs. Hyrican Informationssysteme Aktiengesellschaft | Lendlease vs. Automatic Data Processing |
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 Theme Ratings module to determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance.
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