Correlation Between Lincoln Educational and SOUTHERN
Specify exactly 2 symbols:
By analyzing existing cross correlation between Lincoln Educational Services and SOUTHERN CALIF EDISON, you can compare the effects of market volatilities on Lincoln Educational and SOUTHERN 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 SOUTHERN. Check out your portfolio center. Please also check ongoing floating volatility patterns of Lincoln Educational and SOUTHERN.
Diversification Opportunities for Lincoln Educational and SOUTHERN
-0.2 | Correlation Coefficient |
Good diversification
The 3 months correlation between Lincoln and SOUTHERN is -0.2. Overlapping area represents the amount of risk that can be diversified away by holding Lincoln Educational Services and SOUTHERN CALIF EDISON in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SOUTHERN CALIF EDISON 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 SOUTHERN. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SOUTHERN CALIF EDISON has no effect on the direction of Lincoln Educational i.e., Lincoln Educational and SOUTHERN go up and down completely randomly.
Pair Corralation between Lincoln Educational and SOUTHERN
Given the investment horizon of 90 days Lincoln Educational is expected to generate 8.61 times less return on investment than SOUTHERN. But when comparing it to its historical volatility, Lincoln Educational Services is 19.08 times less risky than SOUTHERN. It trades about 0.1 of its potential returns per unit of risk. SOUTHERN CALIF EDISON is currently generating about 0.04 of returns per unit of risk over similar time horizon. If you would invest 8,445 in SOUTHERN CALIF EDISON on September 3, 2024 and sell it today you would lose (285.00) from holding SOUTHERN CALIF EDISON or give up 3.37% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 81.82% |
| Values | Daily Returns |
Lincoln Educational Services vs. SOUTHERN CALIF EDISON
Performance |
| Timeline |
| Lincoln Educational |
| SOUTHERN CALIF EDISON |
Lincoln Educational and SOUTHERN Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Lincoln Educational and SOUTHERN
The main advantage of trading using opposite Lincoln Educational and SOUTHERN positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Lincoln Educational position performs unexpectedly, SOUTHERN 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 SOUTHERN will offset losses from the drop in SOUTHERN'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 |
| SOUTHERN vs. Vishay Intertechnology | SOUTHERN vs. Lincoln Educational Services | SOUTHERN vs. Kulicke and Soffa | SOUTHERN vs. Tower Semiconductor |
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 Global Markets Map module to get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes.
Other Complementary Tools
| Headlines Timeline Stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity | |
| Analyst Advice Analyst recommendations and target price estimates broken down by several categories | |
| Fundamental Analysis View fundamental data based on most recent published financial statements | |
| Portfolio Dashboard Portfolio dashboard that provides centralized access to all your investments | |
| FinTech Suite Use AI to screen and filter profitable investment opportunities |