Correlation Between Laurentian Bank and Upstart Investments
Can any of the company-specific risk be diversified away by investing in both Laurentian Bank and Upstart Investments 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 Laurentian Bank and Upstart Investments into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Laurentian Bank and Upstart Investments, you can compare the effects of market volatilities on Laurentian Bank and Upstart Investments 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 Laurentian Bank with a short position of Upstart Investments. Check out your portfolio center. Please also check ongoing floating volatility patterns of Laurentian Bank and Upstart Investments.
Diversification Opportunities for Laurentian Bank and Upstart Investments
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Laurentian and Upstart is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Laurentian Bank and Upstart Investments in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Upstart Investments and Laurentian Bank 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 Laurentian Bank are associated (or correlated) with Upstart Investments. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Upstart Investments has no effect on the direction of Laurentian Bank i.e., Laurentian Bank and Upstart Investments go up and down completely randomly.
Pair Corralation between Laurentian Bank and Upstart Investments
If you would invest 6.00 in Upstart Investments on October 12, 2024 and sell it today you would earn a total of 0.00 from holding Upstart Investments or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 95.0% |
| Values | Daily Returns |
Laurentian Bank vs. Upstart Investments
Performance |
| Timeline |
| Laurentian Bank |
| Upstart Investments |
Laurentian Bank and Upstart Investments Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Laurentian Bank and Upstart Investments
The main advantage of trading using opposite Laurentian Bank and Upstart Investments positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Laurentian Bank position performs unexpectedly, Upstart Investments 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 Upstart Investments will offset losses from the drop in Upstart Investments' long position.| Laurentian Bank vs. Canadian Western Bank | Laurentian Bank vs. National Bank of | Laurentian Bank vs. Canadian Imperial Bank | Laurentian Bank vs. Great West Lifeco |
| Upstart Investments vs. Laurentian Bank | Upstart Investments vs. Dream Office Real | Upstart Investments vs. US Financial 15 | Upstart Investments vs. Stampede Drilling |
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 Risk-Return Analysis module to view associations between returns expected from investment and the risk you assume.
Other Complementary Tools
| Efficient Frontier Plot and analyze your portfolio and positions against risk-return landscape of the market. | |
| Volatility Analysis Get historical volatility and risk analysis based on latest market data | |
| Share Portfolio Track or share privately all of your investments from the convenience of any device | |
| ETFs Find actively traded Exchange Traded Funds (ETF) from around the world | |
| Funds Screener Find actively-traded funds from around the world traded on over 30 global exchanges |