Correlation Between Lincoln Educational and ABBVIE
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By analyzing existing cross correlation between Lincoln Educational Services and ABBVIE INC, you can compare the effects of market volatilities on Lincoln Educational and ABBVIE 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 Lincoln Educational with a short position of ABBVIE. Check out your portfolio center. Please also check ongoing floating volatility patterns of Lincoln Educational and ABBVIE.
Diversification Opportunities for Lincoln Educational and ABBVIE
-0.67 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Lincoln and ABBVIE is -0.67. Overlapping area represents the amount of risk that can be diversified away by holding Lincoln Educational Services and ABBVIE INC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on ABBVIE INC and Lincoln Educational 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 Lincoln Educational Services are associated (or correlated) with ABBVIE. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ABBVIE INC has no effect on the direction of Lincoln Educational i.e., Lincoln Educational and ABBVIE go up and down completely randomly.
Pair Corralation between Lincoln Educational and ABBVIE
Given the investment horizon of 90 days Lincoln Educational Services is expected to generate 2.1 times more return on investment than ABBVIE. However, Lincoln Educational is 2.1 times more volatile than ABBVIE INC. It trades about 0.0 of its potential returns per unit of risk. ABBVIE INC is currently generating about -0.09 per unit of risk. If you would invest 1,678 in Lincoln Educational Services on September 12, 2024 and sell it today you would lose (4.00) from holding Lincoln Educational Services or give up 0.24% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 95.24% |
| Values | Daily Returns |
Lincoln Educational Services vs. ABBVIE INC
Performance |
| Timeline |
| Lincoln Educational |
| ABBVIE INC |
Lincoln Educational and ABBVIE Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Lincoln Educational and ABBVIE
The main advantage of trading using opposite Lincoln Educational and ABBVIE positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Lincoln Educational position performs unexpectedly, ABBVIE 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 ABBVIE will offset losses from the drop in ABBVIE's long position.| Lincoln Educational vs. Vasta Platform | Lincoln Educational vs. Laureate Education | Lincoln Educational vs. American Public Education | Lincoln Educational vs. Adtalem Global Education |
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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 Commodity Directory module to find actively traded commodities issued by global exchanges.
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