Correlation Between LithiumBank Resources and GLENLN
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By analyzing existing cross correlation between LithiumBank Resources Corp and GLENLN 1625 27 APR 26, you can compare the effects of market volatilities on LithiumBank Resources and GLENLN 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 LithiumBank Resources with a short position of GLENLN. Check out your portfolio center. Please also check ongoing floating volatility patterns of LithiumBank Resources and GLENLN.
Diversification Opportunities for LithiumBank Resources and GLENLN
0.13 | Correlation Coefficient |
Average diversification
The 3 months correlation between LithiumBank and GLENLN is 0.13. Overlapping area represents the amount of risk that can be diversified away by holding LithiumBank Resources Corp and GLENLN 1625 27 APR 26 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on GLENLN 1625 27 and LithiumBank Resources 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 LithiumBank Resources Corp are associated (or correlated) with GLENLN. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of GLENLN 1625 27 has no effect on the direction of LithiumBank Resources i.e., LithiumBank Resources and GLENLN go up and down completely randomly.
Pair Corralation between LithiumBank Resources and GLENLN
Assuming the 90 days horizon LithiumBank Resources Corp is expected to generate 3.16 times more return on investment than GLENLN. However, LithiumBank Resources is 3.16 times more volatile than GLENLN 1625 27 APR 26. It trades about -0.05 of its potential returns per unit of risk. GLENLN 1625 27 APR 26 is currently generating about -0.34 per unit of risk. If you would invest 21.00 in LithiumBank Resources Corp on September 14, 2024 and sell it today you would lose (1.00) from holding LithiumBank Resources Corp or give up 4.76% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 76.19% |
| Values | Daily Returns |
LithiumBank Resources Corp vs. GLENLN 1625 27 APR 26
Performance |
| Timeline |
| LithiumBank Resources |
| GLENLN 1625 27 |
LithiumBank Resources and GLENLN Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with LithiumBank Resources and GLENLN
The main advantage of trading using opposite LithiumBank Resources and GLENLN positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if LithiumBank Resources position performs unexpectedly, GLENLN 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 GLENLN will offset losses from the drop in GLENLN's long position.| LithiumBank Resources vs. Qubec Nickel Corp | LithiumBank Resources vs. IGO Limited | LithiumBank Resources vs. Focus Graphite | LithiumBank Resources vs. Mineral Res |
| GLENLN vs. Kulicke and Soffa | GLENLN vs. LithiumBank Resources Corp | GLENLN vs. Siriuspoint | GLENLN vs. AmTrust Financial Services |
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 Pattern Recognition module to use different Pattern Recognition models to time the market across multiple global exchanges.
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