Correlation Between Lhyfe SA and SenesTech
Can any of the company-specific risk be diversified away by investing in both Lhyfe SA and SenesTech 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 Lhyfe SA and SenesTech into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Lhyfe SA and SenesTech, you can compare the effects of market volatilities on Lhyfe SA and SenesTech 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 Lhyfe SA with a short position of SenesTech. Check out your portfolio center. Please also check ongoing floating volatility patterns of Lhyfe SA and SenesTech.
Diversification Opportunities for Lhyfe SA and SenesTech
Pay attention - limited upside
The 3 months correlation between Lhyfe and SenesTech is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Lhyfe SA and SenesTech in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SenesTech and Lhyfe SA 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 Lhyfe SA are associated (or correlated) with SenesTech. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SenesTech has no effect on the direction of Lhyfe SA i.e., Lhyfe SA and SenesTech go up and down completely randomly.
Pair Corralation between Lhyfe SA and SenesTech
If you would invest 472.00 in Lhyfe SA on December 10, 2024 and sell it today you would earn a total of 0.00 from holding Lhyfe SA or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 95.24% |
| Values | Daily Returns |
Lhyfe SA vs. SenesTech
Performance |
| Timeline |
| Lhyfe SA |
| SenesTech |
Lhyfe SA and SenesTech Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Lhyfe SA and SenesTech
The main advantage of trading using opposite Lhyfe SA and SenesTech positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Lhyfe SA position performs unexpectedly, SenesTech 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 SenesTech will offset losses from the drop in SenesTech's long position.| Lhyfe SA vs. SLR Investment Corp | ||
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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 Anywhere module to track or share privately all of your investments from the convenience of any device.
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