Correlation Between Luther Burbank and LINKBANCORP
Can any of the company-specific risk be diversified away by investing in both Luther Burbank and LINKBANCORP 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 Luther Burbank and LINKBANCORP into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Luther Burbank and LINKBANCORP, you can compare the effects of market volatilities on Luther Burbank and LINKBANCORP 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 Luther Burbank with a short position of LINKBANCORP. Check out your portfolio center. Please also check ongoing floating volatility patterns of Luther Burbank and LINKBANCORP.
Diversification Opportunities for Luther Burbank and LINKBANCORP
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Luther and LINKBANCORP is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Luther Burbank and LINKBANCORP in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on LINKBANCORP and Luther Burbank 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 Luther Burbank are associated (or correlated) with LINKBANCORP. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of LINKBANCORP has no effect on the direction of Luther Burbank i.e., Luther Burbank and LINKBANCORP go up and down completely randomly.
Pair Corralation between Luther Burbank and LINKBANCORP
If you would invest 662.00 in LINKBANCORP on November 3, 2024 and sell it today you would earn a total of 45.00 from holding LINKBANCORP or generate 6.8% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.4% |
| Values | Daily Returns |
Luther Burbank vs. LINKBANCORP
Performance |
| Timeline |
| Luther Burbank |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| LINKBANCORP |
Luther Burbank and LINKBANCORP Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Luther Burbank and LINKBANCORP
The main advantage of trading using opposite Luther Burbank and LINKBANCORP positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Luther Burbank position performs unexpectedly, LINKBANCORP 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 LINKBANCORP will offset losses from the drop in LINKBANCORP's long position.| Luther Burbank vs. First Community | Luther Burbank vs. Community West Bancshares | Luther Burbank vs. First Financial Northwest | Luther Burbank vs. First Northwest Bancorp |
| LINKBANCORP vs. Home Federal Bancorp | LINKBANCORP vs. Lake Shore Bancorp | LINKBANCORP vs. Community West Bancshares | LINKBANCORP vs. Magyar Bancorp |
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 Funds Screener module to find actively-traded funds from around the world traded on over 30 global exchanges.
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