Correlation Between LGI Homes and BOEING
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By analyzing existing cross correlation between LGI Homes and BOEING 28 percent, you can compare the effects of market volatilities on LGI Homes and BOEING 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 LGI Homes with a short position of BOEING. Check out your portfolio center. Please also check ongoing floating volatility patterns of LGI Homes and BOEING.
Diversification Opportunities for LGI Homes and BOEING
Pay attention - limited upside
The 3 months correlation between LGI and BOEING is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding LGI Homes and BOEING 28 percent in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on BOEING 28 percent and LGI Homes 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 LGI Homes are associated (or correlated) with BOEING. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BOEING 28 percent has no effect on the direction of LGI Homes i.e., LGI Homes and BOEING go up and down completely randomly.
Pair Corralation between LGI Homes and BOEING
If you would invest 0.00 in BOEING 28 percent on September 15, 2024 and sell it today you would earn a total of 0.00 from holding BOEING 28 percent or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 4.76% |
| Values | Daily Returns |
LGI Homes vs. BOEING 28 percent
Performance |
| Timeline |
| LGI Homes |
| BOEING 28 percent |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
LGI Homes and BOEING Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with LGI Homes and BOEING
The main advantage of trading using opposite LGI Homes and BOEING positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if LGI Homes position performs unexpectedly, BOEING 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 BOEING will offset losses from the drop in BOEING's long position.| LGI Homes vs. Arhaus Inc | LGI Homes vs. Floor Decor Holdings | LGI Homes vs. Kingfisher plc | LGI Homes vs. Haverty Furniture Companies |
| BOEING vs. Willamette Valley Vineyards | BOEING vs. Fevertree Drinks Plc | BOEING vs. Huadi International Group | BOEING vs. SNDL Inc |
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 Options Analysis module to analyze and evaluate options and option chains as a potential hedge for your portfolios.
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