Correlation Between Lululemon Athletica and 09660V2A0
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By analyzing existing cross correlation between Lululemon Athletica and BNP 4375 01 MAR 33, you can compare the effects of market volatilities on Lululemon Athletica and 09660V2A0 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 Lululemon Athletica with a short position of 09660V2A0. Check out your portfolio center. Please also check ongoing floating volatility patterns of Lululemon Athletica and 09660V2A0.
Diversification Opportunities for Lululemon Athletica and 09660V2A0
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Lululemon and 09660V2A0 is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Lululemon Athletica and BNP 4375 01 MAR 33 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on BNP 4375 01 and Lululemon Athletica 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 Lululemon Athletica are associated (or correlated) with 09660V2A0. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BNP 4375 01 has no effect on the direction of Lululemon Athletica i.e., Lululemon Athletica and 09660V2A0 go up and down completely randomly.
Pair Corralation between Lululemon Athletica and 09660V2A0
If you would invest 32,627 in Lululemon Athletica on September 3, 2024 and sell it today you would lose (561.00) from holding Lululemon Athletica or give up 1.72% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Lululemon Athletica vs. BNP 4375 01 MAR 33
Performance |
| Timeline |
| Lululemon Athletica |
| BNP 4375 01 |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Lululemon Athletica and 09660V2A0 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Lululemon Athletica and 09660V2A0
The main advantage of trading using opposite Lululemon Athletica and 09660V2A0 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Lululemon Athletica position performs unexpectedly, 09660V2A0 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 09660V2A0 will offset losses from the drop in 09660V2A0's long position.| Lululemon Athletica vs. American Eagle Outfitters | Lululemon Athletica vs. Abercrombie Fitch | Lululemon Athletica vs. Urban Outfitters | Lululemon Athletica vs. Foot Locker |
| 09660V2A0 vs. NRG Energy | 09660V2A0 vs. Kenon Holdings | 09660V2A0 vs. CVR Partners LP | 09660V2A0 vs. Origin Materials |
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 Portfolio Optimization module to compute new portfolio that will generate highest expected return given your specified tolerance for risk.
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