Correlation Between Logan Ridge and SOUTHERN
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By analyzing existing cross correlation between Logan Ridge Finance and SOUTHERN CALIF EDISON, you can compare the effects of market volatilities on Logan Ridge 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 Logan Ridge with a short position of SOUTHERN. Check out your portfolio center. Please also check ongoing floating volatility patterns of Logan Ridge and SOUTHERN.
Diversification Opportunities for Logan Ridge and SOUTHERN
0.44 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Logan and SOUTHERN is 0.44. Overlapping area represents the amount of risk that can be diversified away by holding Logan Ridge Finance 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 Logan Ridge 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 Logan Ridge Finance 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 Logan Ridge i.e., Logan Ridge and SOUTHERN go up and down completely randomly.
Pair Corralation between Logan Ridge and SOUTHERN
Given the investment horizon of 90 days Logan Ridge Finance is expected to generate 0.83 times more return on investment than SOUTHERN. However, Logan Ridge Finance is 1.21 times less risky than SOUTHERN. It trades about 0.02 of its potential returns per unit of risk. SOUTHERN CALIF EDISON is currently generating about 0.01 per unit of risk. If you would invest 2,477 in Logan Ridge Finance on December 2, 2024 and sell it today you would earn a total of 18.00 from holding Logan Ridge Finance or generate 0.73% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 82.5% |
| Values | Daily Returns |
Logan Ridge Finance vs. SOUTHERN CALIF EDISON
Performance |
| Timeline |
| Logan Ridge Finance |
| SOUTHERN CALIF EDISON |
Logan Ridge and SOUTHERN Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Logan Ridge and SOUTHERN
The main advantage of trading using opposite Logan Ridge and SOUTHERN positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Logan Ridge 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.| Logan Ridge vs. Badger Infrastructure Solutions | Logan Ridge vs. Portman Ridge Finance | Logan Ridge vs. Inotiv Inc | Logan Ridge vs. Phenixfin |
| SOUTHERN vs. AEP TEX INC | SOUTHERN vs. EastGroup Properties | SOUTHERN vs. Tat Techno | SOUTHERN vs. Intevac |
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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