Correlation Between Loomis Sayles and PACIFICORP
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By analyzing existing cross correlation between Loomis Sayles International and PACIFICORP 625 percent, you can compare the effects of market volatilities on Loomis Sayles and PACIFICORP 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 Loomis Sayles with a short position of PACIFICORP. Check out your portfolio center. Please also check ongoing floating volatility patterns of Loomis Sayles and PACIFICORP.
Diversification Opportunities for Loomis Sayles and PACIFICORP
-0.35 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Loomis and PACIFICORP is -0.35. Overlapping area represents the amount of risk that can be diversified away by holding Loomis Sayles International and PACIFICORP 625 percent in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on PACIFICORP 625 percent and Loomis Sayles 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 Loomis Sayles International are associated (or correlated) with PACIFICORP. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of PACIFICORP 625 percent has no effect on the direction of Loomis Sayles i.e., Loomis Sayles and PACIFICORP go up and down completely randomly.
Pair Corralation between Loomis Sayles and PACIFICORP
Assuming the 90 days horizon Loomis Sayles International is expected to generate 0.91 times more return on investment than PACIFICORP. However, Loomis Sayles International is 1.1 times less risky than PACIFICORP. It trades about 0.08 of its potential returns per unit of risk. PACIFICORP 625 percent is currently generating about 0.01 per unit of risk. If you would invest 903.00 in Loomis Sayles International on September 2, 2024 and sell it today you would earn a total of 202.00 from holding Loomis Sayles International or generate 22.37% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 97.18% |
| Values | Daily Returns |
Loomis Sayles International vs. PACIFICORP 625 percent
Performance |
| Timeline |
| Loomis Sayles Intern |
| PACIFICORP 625 percent |
Loomis Sayles and PACIFICORP Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Loomis Sayles and PACIFICORP
The main advantage of trading using opposite Loomis Sayles and PACIFICORP positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Loomis Sayles position performs unexpectedly, PACIFICORP 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 PACIFICORP will offset losses from the drop in PACIFICORP's long position.| Loomis Sayles vs. Asg Managed Futures | Loomis Sayles vs. Asg Managed Futures | Loomis Sayles vs. Natixis Oakmark | Loomis Sayles vs. Natixis Oakmark International |
| PACIFICORP vs. AEP TEX INC | PACIFICORP vs. US BANK NATIONAL | PACIFICORP vs. International Business Machines | PACIFICORP vs. Intel |
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 Fundamental Analysis module to view fundamental data based on most recent published financial statements.
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