Correlation Between 538034AR0 and Lipocine
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By analyzing existing cross correlation between Live Nation Entertainment and Lipocine, you can compare the effects of market volatilities on 538034AR0 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 538034AR0 with a short position of Lipocine. Check out your portfolio center. Please also check ongoing floating volatility patterns of 538034AR0 and Lipocine.
Diversification Opportunities for 538034AR0 and Lipocine
Good diversification
The 3 months correlation between 538034AR0 and Lipocine is -0.06. Overlapping area represents the amount of risk that can be diversified away by holding Live Nation Entertainment and Lipocine in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Lipocine and 538034AR0 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 Live Nation Entertainment 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 538034AR0 i.e., 538034AR0 and Lipocine go up and down completely randomly.
Pair Corralation between 538034AR0 and Lipocine
Assuming the 90 days trading horizon Live Nation Entertainment is expected to under-perform the Lipocine. But the bond apears to be less risky and, when comparing its historical volatility, Live Nation Entertainment is 13.1 times less risky than Lipocine. The bond trades about -0.07 of its potential returns per unit of risk. The Lipocine is currently generating about 0.1 of returns per unit of risk over similar time horizon. If you would invest 372.00 in Lipocine on September 4, 2024 and sell it today you would earn a total of 101.00 from holding Lipocine or generate 27.15% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 96.88% |
| Values | Daily Returns |
Live Nation Entertainment vs. Lipocine
Performance |
| Timeline |
| Live Nation Entertainment |
| Lipocine |
538034AR0 and Lipocine Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with 538034AR0 and Lipocine
The main advantage of trading using opposite 538034AR0 and Lipocine positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if 538034AR0 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.| 538034AR0 vs. Lipocine | 538034AR0 vs. EvoAir Holdings | 538034AR0 vs. Grupo Aeroportuario del | 538034AR0 vs. Inflection Point Acquisition |
| Lipocine vs. Reviva Pharmaceuticals Holdings | Lipocine vs. ZyVersa Therapeutics | Lipocine vs. Unicycive Therapeutics | Lipocine vs. Checkpoint Therapeutics |
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 Risk-Return Analysis module to view associations between returns expected from investment and the risk you assume.
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