Correlation Between Lululemon Athletica and Ziggo
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By analyzing existing cross correlation between Lululemon Athletica and Ziggo 4875 percent, you can compare the effects of market volatilities on Lululemon Athletica and Ziggo 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 Ziggo. Check out your portfolio center. Please also check ongoing floating volatility patterns of Lululemon Athletica and Ziggo.
Diversification Opportunities for Lululemon Athletica and Ziggo
-0.5 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Lululemon and Ziggo is -0.5. Overlapping area represents the amount of risk that can be diversified away by holding Lululemon Athletica and Ziggo 4875 percent in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Ziggo 4875 percent 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 Ziggo. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Ziggo 4875 percent has no effect on the direction of Lululemon Athletica i.e., Lululemon Athletica and Ziggo go up and down completely randomly.
Pair Corralation between Lululemon Athletica and Ziggo
Given the investment horizon of 90 days Lululemon Athletica is expected to generate 2.27 times more return on investment than Ziggo. However, Lululemon Athletica is 2.27 times more volatile than Ziggo 4875 percent. It trades about 0.12 of its potential returns per unit of risk. Ziggo 4875 percent is currently generating about -0.36 per unit of risk. If you would invest 30,754 in Lululemon Athletica on August 28, 2024 and sell it today you would earn a total of 1,918 from holding Lululemon Athletica or generate 6.24% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Lululemon Athletica vs. Ziggo 4875 percent
Performance |
| Timeline |
| Lululemon Athletica |
| Ziggo 4875 percent |
Lululemon Athletica and Ziggo Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Lululemon Athletica and Ziggo
The main advantage of trading using opposite Lululemon Athletica and Ziggo positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Lululemon Athletica position performs unexpectedly, Ziggo 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 Ziggo will offset losses from the drop in Ziggo's long position.| Lululemon Athletica vs. VF Corporation | Lululemon Athletica vs. Levi Strauss Co | Lululemon Athletica vs. Under Armour A | Lululemon Athletica vs. Oxford Industries |
| Ziggo vs. AEP TEX INC | Ziggo vs. US BANK NATIONAL | Ziggo vs. Omega Healthcare Investors | Ziggo vs. Zoom Video Communications |
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 Crypto Correlations module to use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins.
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