Correlation Between Prospect Logistics and LH Shopping
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By analyzing existing cross correlation between Prospect Logistics and and LH Shopping Centers, you can compare the effects of market volatilities on Prospect Logistics and LH Shopping 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 Prospect Logistics with a short position of LH Shopping. Check out your portfolio center. Please also check ongoing floating volatility patterns of Prospect Logistics and LH Shopping.
Diversification Opportunities for Prospect Logistics and LH Shopping
0.1 | Correlation Coefficient |
Average diversification
The 3 months correlation between Prospect and LHSC is 0.1. Overlapping area represents the amount of risk that can be diversified away by holding Prospect Logistics and and LH Shopping Centers in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on LH Shopping Centers and Prospect Logistics 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 Prospect Logistics and are associated (or correlated) with LH Shopping. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of LH Shopping Centers has no effect on the direction of Prospect Logistics i.e., Prospect Logistics and LH Shopping go up and down completely randomly.
Pair Corralation between Prospect Logistics and LH Shopping
Assuming the 90 days trading horizon Prospect Logistics and is expected to generate 0.48 times more return on investment than LH Shopping. However, Prospect Logistics and is 2.08 times less risky than LH Shopping. It trades about -0.07 of its potential returns per unit of risk. LH Shopping Centers is currently generating about -0.05 per unit of risk. If you would invest 845.00 in Prospect Logistics and on December 1, 2024 and sell it today you would lose (5.00) from holding Prospect Logistics and or give up 0.59% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 95.45% |
| Values | Daily Returns |
Prospect Logistics and vs. LH Shopping Centers
Performance |
| Timeline |
| Prospect Logistics and |
| LH Shopping Centers |
Prospect Logistics and LH Shopping Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Prospect Logistics and LH Shopping
The main advantage of trading using opposite Prospect Logistics and LH Shopping positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Prospect Logistics position performs unexpectedly, LH Shopping 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 LH Shopping will offset losses from the drop in LH Shopping's long position.| Prospect Logistics vs. Quality Houses Property | Prospect Logistics vs. Impact Growth REIT | Prospect Logistics vs. Prime Office Leasehold |
| LH Shopping vs. LH Hotel Leasehold | LH Shopping vs. Impact Growth REIT | LH Shopping vs. Quality Houses Property | LH Shopping vs. CPN Retail Growth |
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 Sign In To Macroaxis module to sign in to explore Macroaxis' wealth optimization platform and fintech modules.
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