Correlation Between Lion One and Koninklijke Ahold
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By analyzing existing cross correlation between Lion One Metals and Koninklijke Ahold Delhaize, you can compare the effects of market volatilities on Lion One and Koninklijke Ahold 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 Koninklijke Ahold. Check out your portfolio center. Please also check ongoing floating volatility patterns of Lion One and Koninklijke Ahold.
Diversification Opportunities for Lion One and Koninklijke Ahold
-0.56 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Lion and Koninklijke is -0.56. Overlapping area represents the amount of risk that can be diversified away by holding Lion One Metals and Koninklijke Ahold Delhaize in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Koninklijke Ahold 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 Koninklijke Ahold. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Koninklijke Ahold has no effect on the direction of Lion One i.e., Lion One and Koninklijke Ahold go up and down completely randomly.
Pair Corralation between Lion One and Koninklijke Ahold
Assuming the 90 days horizon Lion One Metals is expected to under-perform the Koninklijke Ahold. In addition to that, Lion One is 3.67 times more volatile than Koninklijke Ahold Delhaize. It trades about -0.1 of its total potential returns per unit of risk. Koninklijke Ahold Delhaize is currently generating about 0.31 per unit of volatility. If you would invest 3,032 in Koninklijke Ahold Delhaize on September 1, 2024 and sell it today you would earn a total of 233.00 from holding Koninklijke Ahold Delhaize or generate 7.68% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 95.65% |
| Values | Daily Returns |
Lion One Metals vs. Koninklijke Ahold Delhaize
Performance |
| Timeline |
| Lion One Metals |
| Koninklijke Ahold |
Lion One and Koninklijke Ahold Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Lion One and Koninklijke Ahold
The main advantage of trading using opposite Lion One and Koninklijke Ahold positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Lion One position performs unexpectedly, Koninklijke Ahold 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 Koninklijke Ahold will offset losses from the drop in Koninklijke Ahold's long position.| Lion One vs. NIPPON STEEL SPADR | Lion One vs. United States Steel | Lion One vs. Nippon Steel | Lion One vs. Singapore Telecommunications Limited |
| Koninklijke Ahold vs. GREENX METALS LTD | Koninklijke Ahold vs. AIR PRODCHEMICALS | Koninklijke Ahold vs. BLUESCOPE STEEL | Koninklijke Ahold vs. Lion One Metals |
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 Financial Widgets module to easily integrated Macroaxis content with over 30 different plug-and-play financial widgets.
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