Correlation Between Lict and 1911 Gold
Can any of the company-specific risk be diversified away by investing in both Lict and 1911 Gold 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 Lict and 1911 Gold into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Lict Corporation and 1911 Gold Corp, you can compare the effects of market volatilities on Lict and 1911 Gold 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 Lict with a short position of 1911 Gold. Check out your portfolio center. Please also check ongoing floating volatility patterns of Lict and 1911 Gold.
Diversification Opportunities for Lict and 1911 Gold
Excellent diversification
The 3 months correlation between Lict and 1911 is -0.59. Overlapping area represents the amount of risk that can be diversified away by holding Lict Corp. and 1911 Gold Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on 1911 Gold Corp and Lict 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 Lict Corporation are associated (or correlated) with 1911 Gold. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of 1911 Gold Corp has no effect on the direction of Lict i.e., Lict and 1911 Gold go up and down completely randomly.
Pair Corralation between Lict and 1911 Gold
If you would invest 7.10 in 1911 Gold Corp on August 31, 2024 and sell it today you would earn a total of 4.90 from holding 1911 Gold Corp or generate 69.01% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 0.27% |
| Values | Daily Returns |
Lict Corp. vs. 1911 Gold Corp
Performance |
| Timeline |
| Lict |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| 1911 Gold Corp |
Lict and 1911 Gold Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Lict and 1911 Gold
The main advantage of trading using opposite Lict and 1911 Gold positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Lict position performs unexpectedly, 1911 Gold 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 1911 Gold will offset losses from the drop in 1911 Gold's long position.| Lict vs. SK Telecom Co | Lict vs. TIM Participacoes SA | Lict vs. PLDT Inc ADR | Lict vs. Liberty Broadband Srs |
| 1911 Gold vs. Antioquia Gold | 1911 Gold vs. Asante Gold | 1911 Gold vs. Antilles Gold Limited | 1911 Gold vs. Allegiant Gold |
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 CEOs Directory module to screen CEOs from public companies around the world.
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