Correlation Between Lincoln Educational and 28622HAA9
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By analyzing existing cross correlation between Lincoln Educational Services and ELV 49 08 FEB 26, you can compare the effects of market volatilities on Lincoln Educational and 28622HAA9 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 28622HAA9. Check out your portfolio center. Please also check ongoing floating volatility patterns of Lincoln Educational and 28622HAA9.
Diversification Opportunities for Lincoln Educational and 28622HAA9
-0.01 | Correlation Coefficient |
Good diversification
The 3 months correlation between Lincoln and 28622HAA9 is -0.01. Overlapping area represents the amount of risk that can be diversified away by holding Lincoln Educational Services and ELV 49 08 FEB 26 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on ELV 49 08 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 28622HAA9. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ELV 49 08 has no effect on the direction of Lincoln Educational i.e., Lincoln Educational and 28622HAA9 go up and down completely randomly.
Pair Corralation between Lincoln Educational and 28622HAA9
Given the investment horizon of 90 days Lincoln Educational Services is expected to generate 9.01 times more return on investment than 28622HAA9. However, Lincoln Educational is 9.01 times more volatile than ELV 49 08 FEB 26. It trades about 0.09 of its potential returns per unit of risk. ELV 49 08 FEB 26 is currently generating about 0.0 per unit of risk. If you would invest 592.00 in Lincoln Educational Services on August 30, 2024 and sell it today you would earn a total of 1,057 from holding Lincoln Educational Services or generate 178.55% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 89.7% |
| Values | Daily Returns |
Lincoln Educational Services vs. ELV 49 08 FEB 26
Performance |
| Timeline |
| Lincoln Educational |
| ELV 49 08 |
Lincoln Educational and 28622HAA9 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Lincoln Educational and 28622HAA9
The main advantage of trading using opposite Lincoln Educational and 28622HAA9 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Lincoln Educational position performs unexpectedly, 28622HAA9 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 28622HAA9 will offset losses from the drop in 28622HAA9's long position.| Lincoln Educational vs. Gaotu Techedu DRC | Lincoln Educational vs. TAL Education Group | Lincoln Educational vs. Strategic Education | Lincoln Educational vs. Vasta Platform |
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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 Positions Ratings module to determine portfolio positions ratings based on digital equity recommendations. Macroaxis instant position ratings are based on combination of fundamental analysis and risk-adjusted market performance.
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