Correlation Between Lion One and BOEING
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By analyzing existing cross correlation between Lion One Metals and BOEING CO, you can compare the effects of market volatilities on Lion One and BOEING 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 BOEING. Check out your portfolio center. Please also check ongoing floating volatility patterns of Lion One and BOEING.
Diversification Opportunities for Lion One and BOEING
Significant diversification
The 3 months correlation between Lion and BOEING is 0.03. Overlapping area represents the amount of risk that can be diversified away by holding Lion One Metals and BOEING CO in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on BOEING CO 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 BOEING. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BOEING CO has no effect on the direction of Lion One i.e., Lion One and BOEING go up and down completely randomly.
Pair Corralation between Lion One and BOEING
Assuming the 90 days horizon Lion One Metals is expected to under-perform the BOEING. In addition to that, Lion One is 6.25 times more volatile than BOEING CO. It trades about -0.08 of its total potential returns per unit of risk. BOEING CO is currently generating about -0.01 per unit of volatility. If you would invest 9,959 in BOEING CO on September 4, 2024 and sell it today you would lose (204.00) from holding BOEING CO or give up 2.05% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 99.6% |
| Values | Daily Returns |
Lion One Metals vs. BOEING CO
Performance |
| Timeline |
| Lion One Metals |
| BOEING CO |
Lion One and BOEING Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Lion One and BOEING
The main advantage of trading using opposite Lion One and BOEING positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Lion One position performs unexpectedly, BOEING 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 BOEING will offset losses from the drop in BOEING'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 |
| BOEING vs. Herc Holdings | BOEING vs. Air Lease | BOEING vs. Mitsubishi UFJ Lease | BOEING vs. Amkor Technology |
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 ETFs module to find actively traded Exchange Traded Funds (ETF) from around the world.
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