Correlation Between Lakeland Industries and 83051GAT5
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By analyzing existing cross correlation between Lakeland Industries and SEB 12 09 SEP 26, you can compare the effects of market volatilities on Lakeland Industries and 83051GAT5 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 Lakeland Industries with a short position of 83051GAT5. Check out your portfolio center. Please also check ongoing floating volatility patterns of Lakeland Industries and 83051GAT5.
Diversification Opportunities for Lakeland Industries and 83051GAT5
-0.48 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Lakeland and 83051GAT5 is -0.48. Overlapping area represents the amount of risk that can be diversified away by holding Lakeland Industries and SEB 12 09 SEP 26 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SEB 12 09 and Lakeland Industries 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 Lakeland Industries are associated (or correlated) with 83051GAT5. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SEB 12 09 has no effect on the direction of Lakeland Industries i.e., Lakeland Industries and 83051GAT5 go up and down completely randomly.
Pair Corralation between Lakeland Industries and 83051GAT5
Given the investment horizon of 90 days Lakeland Industries is expected to generate 5.17 times more return on investment than 83051GAT5. However, Lakeland Industries is 5.17 times more volatile than SEB 12 09 SEP 26. It trades about 0.05 of its potential returns per unit of risk. SEB 12 09 SEP 26 is currently generating about 0.07 per unit of risk. If you would invest 1,399 in Lakeland Industries on August 27, 2024 and sell it today you would earn a total of 762.00 from holding Lakeland Industries or generate 54.47% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 42.54% |
| Values | Daily Returns |
Lakeland Industries vs. SEB 12 09 SEP 26
Performance |
| Timeline |
| Lakeland Industries |
| SEB 12 09 |
Lakeland Industries and 83051GAT5 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Lakeland Industries and 83051GAT5
The main advantage of trading using opposite Lakeland Industries and 83051GAT5 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Lakeland Industries position performs unexpectedly, 83051GAT5 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 83051GAT5 will offset losses from the drop in 83051GAT5's long position.| Lakeland Industries vs. Vince Holding Corp | Lakeland Industries vs. Oxford Industries | Lakeland Industries vs. Gildan Activewear | Lakeland Industries vs. Columbia Sportswear |
| 83051GAT5 vs. Lakeland Industries | 83051GAT5 vs. Vera Bradley | 83051GAT5 vs. National Vision Holdings | 83051GAT5 vs. Cedar Realty Trust |
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 Bollinger Bands module to use Bollinger Bands indicator to analyze target price for a given investing horizon.
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