Correlation Between Sweetgreen and 01882YAD8
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By analyzing existing cross correlation between Sweetgreen and LNT 36 01 MAR 32, you can compare the effects of market volatilities on Sweetgreen and 01882YAD8 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 Sweetgreen with a short position of 01882YAD8. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sweetgreen and 01882YAD8.
Diversification Opportunities for Sweetgreen and 01882YAD8
-0.62 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Sweetgreen and 01882YAD8 is -0.62. Overlapping area represents the amount of risk that can be diversified away by holding Sweetgreen and LNT 36 01 MAR 32 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on LNT 36 01 and Sweetgreen 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 Sweetgreen are associated (or correlated) with 01882YAD8. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of LNT 36 01 has no effect on the direction of Sweetgreen i.e., Sweetgreen and 01882YAD8 go up and down completely randomly.
Pair Corralation between Sweetgreen and 01882YAD8
Allowing for the 90-day total investment horizon Sweetgreen is expected to under-perform the 01882YAD8. In addition to that, Sweetgreen is 8.64 times more volatile than LNT 36 01 MAR 32. It trades about -0.28 of its total potential returns per unit of risk. LNT 36 01 MAR 32 is currently generating about 0.03 per unit of volatility. If you would invest 8,961 in LNT 36 01 MAR 32 on November 27, 2024 and sell it today you would earn a total of 16.00 from holding LNT 36 01 MAR 32 or generate 0.18% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 55.0% |
| Values | Daily Returns |
Sweetgreen vs. LNT 36 01 MAR 32
Performance |
| Timeline |
| Sweetgreen |
| LNT 36 01 |
Sweetgreen and 01882YAD8 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Sweetgreen and 01882YAD8
The main advantage of trading using opposite Sweetgreen and 01882YAD8 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sweetgreen position performs unexpectedly, 01882YAD8 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 01882YAD8 will offset losses from the drop in 01882YAD8's long position.| Sweetgreen vs. Cannae Holdings | Sweetgreen vs. Brinker International | Sweetgreen vs. Jack In The | Sweetgreen vs. Biglari Holdings |
| 01882YAD8 vs. The Cheesecake Factory | 01882YAD8 vs. Perseus Mining Limited | 01882YAD8 vs. BJs Restaurants | 01882YAD8 vs. Boyd Gaming |
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 CEOs Directory module to screen CEOs from public companies around the world.
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