Correlation Between Luxfer Holdings and Keurig
Specify exactly 2 symbols:
By analyzing existing cross correlation between Luxfer Holdings PLC and Keurig Dr Pepper, you can compare the effects of market volatilities on Luxfer Holdings and Keurig 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 Luxfer Holdings with a short position of Keurig. Check out your portfolio center. Please also check ongoing floating volatility patterns of Luxfer Holdings and Keurig.
Diversification Opportunities for Luxfer Holdings and Keurig
-0.15 | Correlation Coefficient |
Good diversification
The 3 months correlation between Luxfer and Keurig is -0.15. Overlapping area represents the amount of risk that can be diversified away by holding Luxfer Holdings PLC and Keurig Dr Pepper in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Keurig Dr Pepper and Luxfer Holdings 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 Luxfer Holdings PLC are associated (or correlated) with Keurig. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Keurig Dr Pepper has no effect on the direction of Luxfer Holdings i.e., Luxfer Holdings and Keurig go up and down completely randomly.
Pair Corralation between Luxfer Holdings and Keurig
Given the investment horizon of 90 days Luxfer Holdings PLC is expected to generate 3.38 times more return on investment than Keurig. However, Luxfer Holdings is 3.38 times more volatile than Keurig Dr Pepper. It trades about 0.04 of its potential returns per unit of risk. Keurig Dr Pepper is currently generating about -0.13 per unit of risk. If you would invest 1,459 in Luxfer Holdings PLC on August 31, 2024 and sell it today you would earn a total of 21.00 from holding Luxfer Holdings PLC or generate 1.44% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 95.45% |
| Values | Daily Returns |
Luxfer Holdings PLC vs. Keurig Dr Pepper
Performance |
| Timeline |
| Luxfer Holdings PLC |
| Keurig Dr Pepper |
Luxfer Holdings and Keurig Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Luxfer Holdings and Keurig
The main advantage of trading using opposite Luxfer Holdings and Keurig positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Luxfer Holdings position performs unexpectedly, Keurig 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 Keurig will offset losses from the drop in Keurig's long position.| Luxfer Holdings vs. Graham | Luxfer Holdings vs. Enerpac Tool Group | Luxfer Holdings vs. Kadant Inc | Luxfer Holdings vs. Omega Flex |
| Keurig vs. AEP TEX INC | Keurig vs. US BANK NATIONAL | Keurig vs. FactSet Research Systems | Keurig vs. Aurora Innovation |
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 Piotroski F Score module to get Piotroski F Score based on the binary analysis strategy of nine different fundamentals.
Other Complementary Tools
| Stock Tickers Use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites | |
| USA ETFs Find actively traded Exchange Traded Funds (ETF) in USA | |
| Portfolio Anywhere Track or share privately all of your investments from the convenience of any device | |
| Risk-Return Analysis View associations between returns expected from investment and the risk you assume | |
| Commodity Directory Find actively traded commodities issued by global exchanges |