Correlation Between Lion One and BARCLAYS
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By analyzing existing cross correlation between Lion One Metals and BARCLAYS PLC, you can compare the effects of market volatilities on Lion One and BARCLAYS 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 Lion One with a short position of BARCLAYS. Check out your portfolio center. Please also check ongoing floating volatility patterns of Lion One and BARCLAYS.
Diversification Opportunities for Lion One and BARCLAYS
Weak diversification
The 3 months correlation between Lion and BARCLAYS is 0.34. Overlapping area represents the amount of risk that can be diversified away by holding Lion One Metals and BARCLAYS PLC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on BARCLAYS PLC and Lion One 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 Lion One Metals are associated (or correlated) with BARCLAYS. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BARCLAYS PLC has no effect on the direction of Lion One i.e., Lion One and BARCLAYS go up and down completely randomly.
Pair Corralation between Lion One and BARCLAYS
Assuming the 90 days horizon Lion One Metals is expected to under-perform the BARCLAYS. In addition to that, Lion One is 5.76 times more volatile than BARCLAYS PLC. It trades about -0.08 of its total potential returns per unit of risk. BARCLAYS PLC is currently generating about 0.03 per unit of volatility. If you would invest 8,145 in BARCLAYS PLC on September 2, 2024 and sell it today you would earn a total of 358.00 from holding BARCLAYS PLC or generate 4.4% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 76.21% |
| Values | Daily Returns |
Lion One Metals vs. BARCLAYS PLC
Performance |
| Timeline |
| Lion One Metals |
| BARCLAYS PLC |
Lion One and BARCLAYS Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Lion One and BARCLAYS
The main advantage of trading using opposite Lion One and BARCLAYS positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Lion One position performs unexpectedly, BARCLAYS 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 BARCLAYS will offset losses from the drop in BARCLAYS's long position.| Lion One vs. Irving Resources | Lion One vs. Headwater Gold | Lion One vs. Novo Resources Corp | Lion One vs. Snowline Gold Corp |
| BARCLAYS vs. Thai Beverage PCL | BARCLAYS vs. Keurig Dr Pepper | BARCLAYS vs. ATRenew Inc DRC | BARCLAYS vs. SunLink Health Systems |
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 Risk-Return Analysis module to view associations between returns expected from investment and the risk you assume.
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