Correlation Between BOEING and Lipocine
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By analyzing existing cross correlation between BOEING 28 percent and Lipocine, you can compare the effects of market volatilities on BOEING and Lipocine 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 BOEING with a short position of Lipocine. Check out your portfolio center. Please also check ongoing floating volatility patterns of BOEING and Lipocine.
Diversification Opportunities for BOEING and Lipocine
Modest diversification
The 3 months correlation between BOEING and Lipocine is 0.25. Overlapping area represents the amount of risk that can be diversified away by holding BOEING 28 percent and Lipocine in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Lipocine and BOEING 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 BOEING 28 percent are associated (or correlated) with Lipocine. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Lipocine has no effect on the direction of BOEING i.e., BOEING and Lipocine go up and down completely randomly.
Pair Corralation between BOEING and Lipocine
Assuming the 90 days trading horizon BOEING is expected to generate 11.78 times less return on investment than Lipocine. But when comparing it to its historical volatility, BOEING 28 percent is 8.88 times less risky than Lipocine. It trades about 0.01 of its potential returns per unit of risk. Lipocine is currently generating about 0.02 of returns per unit of risk over similar time horizon. If you would invest 690.00 in Lipocine on September 13, 2024 and sell it today you would lose (164.00) from holding Lipocine or give up 23.77% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 90.51% |
| Values | Daily Returns |
BOEING 28 percent vs. Lipocine
Performance |
| Timeline |
| BOEING 28 percent |
| Lipocine |
BOEING and Lipocine Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with BOEING and Lipocine
The main advantage of trading using opposite BOEING and Lipocine positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if BOEING position performs unexpectedly, Lipocine 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 Lipocine will offset losses from the drop in Lipocine's long position.| BOEING vs. MYR Group | BOEING vs. Fortress Transp Infra | BOEING vs. Broadstone Net Lease | BOEING vs. U Haul Holding |
| Lipocine vs. Emergent Biosolutions | Lipocine vs. Bausch Health Companies | Lipocine vs. Neurocrine Biosciences | Lipocine vs. Teva Pharma Industries |
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 FinTech Suite module to use AI to screen and filter profitable investment opportunities.
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