Correlation Between Kneomedia and Lendlease
Can any of the company-specific risk be diversified away by investing in both Kneomedia 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 Kneomedia and Lendlease into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Kneomedia and Lendlease Group, you can compare the effects of market volatilities on Kneomedia 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 Kneomedia with a short position of Lendlease. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kneomedia and Lendlease.
Diversification Opportunities for Kneomedia and Lendlease
Pay attention - limited upside
The 3 months correlation between Kneomedia and Lendlease is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Kneomedia and Lendlease Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Lendlease Group and Kneomedia 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 Kneomedia 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 Kneomedia i.e., Kneomedia and Lendlease go up and down completely randomly.
Pair Corralation between Kneomedia and Lendlease
If you would invest 676.00 in Lendlease Group on August 30, 2024 and sell it today you would earn a total of 35.00 from holding Lendlease Group or generate 5.18% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Kneomedia vs. Lendlease Group
Performance |
| Timeline |
| Kneomedia |
| Lendlease Group |
Kneomedia and Lendlease Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Kneomedia and Lendlease
The main advantage of trading using opposite Kneomedia and Lendlease positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kneomedia 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.| Kneomedia vs. Aneka Tambang Tbk | Kneomedia vs. BHP Group Limited | Kneomedia vs. Commonwealth Bank of | Kneomedia vs. Commonwealth Bank of |
| Lendlease vs. Kingsrose Mining | Lendlease vs. Flagship Investments | Lendlease vs. Medical Developments International | Lendlease vs. Nova Eye Medical |
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 Bonds Directory module to find actively traded corporate debentures issued by US companies.
Other Complementary Tools
| Global Markets Map Get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes | |
| CEOs Directory Screen CEOs from public companies around the world | |
| Premium Stories Follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope | |
| Competition Analyzer Analyze and compare many basic indicators for a group of related or unrelated entities | |
| Equity Forecasting Use basic forecasting models to generate price predictions and determine price momentum |