Correlation Between Lincoln Educational and DOMINION
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By analyzing existing cross correlation between Lincoln Educational Services and DOMINION ENERGY INC, you can compare the effects of market volatilities on Lincoln Educational and DOMINION 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 DOMINION. Check out your portfolio center. Please also check ongoing floating volatility patterns of Lincoln Educational and DOMINION.
Diversification Opportunities for Lincoln Educational and DOMINION
-0.41 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Lincoln and DOMINION is -0.41. Overlapping area represents the amount of risk that can be diversified away by holding Lincoln Educational Services and DOMINION ENERGY INC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on DOMINION ENERGY 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 DOMINION. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of DOMINION ENERGY INC has no effect on the direction of Lincoln Educational i.e., Lincoln Educational and DOMINION go up and down completely randomly.
Pair Corralation between Lincoln Educational and DOMINION
Given the investment horizon of 90 days Lincoln Educational Services is expected to generate 1.7 times more return on investment than DOMINION. However, Lincoln Educational is 1.7 times more volatile than DOMINION ENERGY INC. It trades about 0.1 of its potential returns per unit of risk. DOMINION ENERGY INC is currently generating about -0.04 per unit of risk. If you would invest 938.00 in Lincoln Educational Services on September 2, 2024 and sell it today you would earn a total of 705.00 from holding Lincoln Educational Services or generate 75.16% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 56.05% |
| Values | Daily Returns |
Lincoln Educational Services vs. DOMINION ENERGY INC
Performance |
| Timeline |
| Lincoln Educational |
| DOMINION ENERGY INC |
Lincoln Educational and DOMINION Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Lincoln Educational and DOMINION
The main advantage of trading using opposite Lincoln Educational and DOMINION positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Lincoln Educational position performs unexpectedly, DOMINION 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 DOMINION will offset losses from the drop in DOMINION's long position.| Lincoln Educational vs. American Public Education | Lincoln Educational vs. ATA Creativity Global | Lincoln Educational vs. Cogna Educacao SA | Lincoln Educational vs. Adtalem Global Education |
| DOMINION vs. Duluth Holdings | DOMINION vs. KVH Industries | DOMINION vs. Amkor Technology | DOMINION vs. Supercom |
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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