Correlation Between Lankem Ceylon and PEOPLES LEASING
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By analyzing existing cross correlation between Lankem Ceylon PLC and PEOPLES LEASING FINANCE, you can compare the effects of market volatilities on Lankem Ceylon and PEOPLES LEASING 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 Lankem Ceylon with a short position of PEOPLES LEASING. Check out your portfolio center. Please also check ongoing floating volatility patterns of Lankem Ceylon and PEOPLES LEASING.
Diversification Opportunities for Lankem Ceylon and PEOPLES LEASING
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Lankem and PEOPLES is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Lankem Ceylon PLC and PEOPLES LEASING FINANCE in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on PEOPLES LEASING FINANCE and Lankem Ceylon 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 Lankem Ceylon PLC are associated (or correlated) with PEOPLES LEASING. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of PEOPLES LEASING FINANCE has no effect on the direction of Lankem Ceylon i.e., Lankem Ceylon and PEOPLES LEASING go up and down completely randomly.
Pair Corralation between Lankem Ceylon and PEOPLES LEASING
If you would invest 0.00 in Lankem Ceylon PLC on January 29, 2025 and sell it today you would earn a total of 0.00 from holding Lankem Ceylon PLC or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 5.88% |
| Values | Daily Returns |
Lankem Ceylon PLC vs. PEOPLES LEASING FINANCE
Performance |
| Timeline |
| Lankem Ceylon PLC |
Risk-Adjusted Performance
Very Weak
Weak | Strong |
| PEOPLES LEASING FINANCE |
Lankem Ceylon and PEOPLES LEASING Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Lankem Ceylon and PEOPLES LEASING
The main advantage of trading using opposite Lankem Ceylon and PEOPLES LEASING positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Lankem Ceylon position performs unexpectedly, PEOPLES LEASING 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 PEOPLES LEASING will offset losses from the drop in PEOPLES LEASING's long position.| Lankem Ceylon vs. Ceylon Guardian Investment | Lankem Ceylon vs. Asiri Surgical Hospital | Lankem Ceylon vs. Carson Cumberbatch PLC | Lankem Ceylon vs. Merchant Bank of |
| PEOPLES LEASING vs. Tal Lanka Hotels | PEOPLES LEASING vs. Nuwara Eliya Hotels | PEOPLES LEASING vs. Aitken Spence Hotel | PEOPLES LEASING vs. Colombo Investment 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 Portfolio Holdings module to check your current holdings and cash postion to detemine if your portfolio needs rebalancing.
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