Correlation Between LOWES and Integral
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By analyzing existing cross correlation between LOWES PANIES INC and Integral Ad Science, you can compare the effects of market volatilities on LOWES and Integral 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 LOWES with a short position of Integral. Check out your portfolio center. Please also check ongoing floating volatility patterns of LOWES and Integral.
Diversification Opportunities for LOWES and Integral
Good diversification
The 3 months correlation between LOWES and Integral is -0.06. Overlapping area represents the amount of risk that can be diversified away by holding LOWES PANIES INC and Integral Ad Science in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Integral Ad Science and LOWES 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 LOWES PANIES INC are associated (or correlated) with Integral. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Integral Ad Science has no effect on the direction of LOWES i.e., LOWES and Integral go up and down completely randomly.
Pair Corralation between LOWES and Integral
Assuming the 90 days trading horizon LOWES PANIES INC is expected to generate 0.16 times more return on investment than Integral. However, LOWES PANIES INC is 6.2 times less risky than Integral. It trades about -0.01 of its potential returns per unit of risk. Integral Ad Science is currently generating about -0.01 per unit of risk. If you would invest 9,240 in LOWES PANIES INC on September 14, 2024 and sell it today you would lose (197.00) from holding LOWES PANIES INC or give up 2.13% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 98.51% |
| Values | Daily Returns |
LOWES PANIES INC vs. Integral Ad Science
Performance |
| Timeline |
| LOWES PANIES INC |
| Integral Ad Science |
LOWES and Integral Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with LOWES and Integral
The main advantage of trading using opposite LOWES and Integral positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if LOWES position performs unexpectedly, Integral 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 Integral will offset losses from the drop in Integral's long position.| LOWES vs. Integral Ad Science | LOWES vs. National CineMedia | LOWES vs. Olympic Steel | LOWES vs. BOS Better Online |
| Integral vs. Mirriad Advertising plc | Integral vs. INEO Tech Corp | Integral vs. Kidoz Inc | Integral vs. Marchex |
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 Cryptocurrency Center module to build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency.
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