Correlation Between LLOYDS and Mannatech Incorporated
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By analyzing existing cross correlation between LLOYDS BANKING GROUP and Mannatech Incorporated, you can compare the effects of market volatilities on LLOYDS and Mannatech Incorporated 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 LLOYDS with a short position of Mannatech Incorporated. Check out your portfolio center. Please also check ongoing floating volatility patterns of LLOYDS and Mannatech Incorporated.
Diversification Opportunities for LLOYDS and Mannatech Incorporated
-0.38 | Correlation Coefficient |
Very good diversification
The 3 months correlation between LLOYDS and Mannatech is -0.38. Overlapping area represents the amount of risk that can be diversified away by holding LLOYDS BANKING GROUP and Mannatech Incorporated in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Mannatech Incorporated and LLOYDS 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 LLOYDS BANKING GROUP are associated (or correlated) with Mannatech Incorporated. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Mannatech Incorporated has no effect on the direction of LLOYDS i.e., LLOYDS and Mannatech Incorporated go up and down completely randomly.
Pair Corralation between LLOYDS and Mannatech Incorporated
Assuming the 90 days trading horizon LLOYDS BANKING GROUP is expected to generate 1.5 times more return on investment than Mannatech Incorporated. However, LLOYDS is 1.5 times more volatile than Mannatech Incorporated. It trades about 0.06 of its potential returns per unit of risk. Mannatech Incorporated is currently generating about 0.04 per unit of risk. If you would invest 9,329 in LLOYDS BANKING GROUP on September 12, 2024 and sell it today you would earn a total of 270.00 from holding LLOYDS BANKING GROUP or generate 2.89% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 88.65% |
| Values | Daily Returns |
LLOYDS BANKING GROUP vs. Mannatech Incorporated
Performance |
| Timeline |
| LLOYDS BANKING GROUP |
| Mannatech Incorporated |
LLOYDS and Mannatech Incorporated Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with LLOYDS and Mannatech Incorporated
The main advantage of trading using opposite LLOYDS and Mannatech Incorporated positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if LLOYDS position performs unexpectedly, Mannatech Incorporated 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 Mannatech Incorporated will offset losses from the drop in Mannatech Incorporated's long position.| LLOYDS vs. Mill City Ventures | LLOYDS vs. Glacier Bancorp | LLOYDS vs. Discover Financial Services | LLOYDS vs. Commonwealth Bank of |
| Mannatech Incorporated vs. Edgewell Personal Care | Mannatech Incorporated vs. Inter Parfums | Mannatech Incorporated vs. Nu Skin Enterprises | Mannatech Incorporated vs. Helen of Troy |
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 Equity Forecasting module to use basic forecasting models to generate price predictions and determine price momentum.
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