Correlation Between Lakeland Bancorp and Equity Bancshares,
Can any of the company-specific risk be diversified away by investing in both Lakeland Bancorp and Equity Bancshares, 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 Lakeland Bancorp and Equity Bancshares, into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Lakeland Bancorp and Equity Bancshares,, you can compare the effects of market volatilities on Lakeland Bancorp and Equity Bancshares, 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 Bancorp with a short position of Equity Bancshares,. Check out your portfolio center. Please also check ongoing floating volatility patterns of Lakeland Bancorp and Equity Bancshares,.
Diversification Opportunities for Lakeland Bancorp and Equity Bancshares,
0.4 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Lakeland and Equity is 0.4. Overlapping area represents the amount of risk that can be diversified away by holding Lakeland Bancorp and Equity Bancshares, in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Equity Bancshares, and Lakeland Bancorp 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 Bancorp are associated (or correlated) with Equity Bancshares,. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Equity Bancshares, has no effect on the direction of Lakeland Bancorp i.e., Lakeland Bancorp and Equity Bancshares, go up and down completely randomly.
Pair Corralation between Lakeland Bancorp and Equity Bancshares,
If you would invest 4,364 in Equity Bancshares, on August 28, 2024 and sell it today you would earn a total of 557.00 from holding Equity Bancshares, or generate 12.76% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 4.76% |
| Values | Daily Returns |
Lakeland Bancorp vs. Equity Bancshares,
Performance |
| Timeline |
| Lakeland Bancorp |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| Equity Bancshares, |
Lakeland Bancorp and Equity Bancshares, Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Lakeland Bancorp and Equity Bancshares,
The main advantage of trading using opposite Lakeland Bancorp and Equity Bancshares, positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Lakeland Bancorp position performs unexpectedly, Equity Bancshares, 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 Equity Bancshares, will offset losses from the drop in Equity Bancshares,'s long position.| Lakeland Bancorp vs. Peoples Bancorp | Lakeland Bancorp vs. Primis Financial Corp | Lakeland Bancorp vs. ConnectOne Bancorp | Lakeland Bancorp vs. LINKBANCORP |
| Equity Bancshares, vs. Brookline Bancorp | Equity Bancshares, vs. Kearny Financial Corp | Equity Bancshares, vs. Heritage Financial | Equity Bancshares, vs. FVCBankcorp |
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 Financial Widgets module to easily integrated Macroaxis content with over 30 different plug-and-play financial widgets.
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