Correlation Between 713448FS2 and Lincoln Educational
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By analyzing existing cross correlation between PEP 445 15 FEB 33 and Lincoln Educational Services, you can compare the effects of market volatilities on 713448FS2 and Lincoln Educational 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 713448FS2 with a short position of Lincoln Educational. Check out your portfolio center. Please also check ongoing floating volatility patterns of 713448FS2 and Lincoln Educational.
Diversification Opportunities for 713448FS2 and Lincoln Educational
-0.79 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between 713448FS2 and Lincoln is -0.79. Overlapping area represents the amount of risk that can be diversified away by holding PEP 445 15 FEB 33 and Lincoln Educational Services in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Lincoln Educational and 713448FS2 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 PEP 445 15 FEB 33 are associated (or correlated) with Lincoln Educational. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Lincoln Educational has no effect on the direction of 713448FS2 i.e., 713448FS2 and Lincoln Educational go up and down completely randomly.
Pair Corralation between 713448FS2 and Lincoln Educational
Assuming the 90 days trading horizon PEP 445 15 FEB 33 is expected to under-perform the Lincoln Educational. But the bond apears to be less risky and, when comparing its historical volatility, PEP 445 15 FEB 33 is 5.24 times less risky than Lincoln Educational. The bond trades about -0.14 of its potential returns per unit of risk. The Lincoln Educational Services is currently generating about 0.32 of returns per unit of risk over similar time horizon. If you would invest 1,338 in Lincoln Educational Services on September 3, 2024 and sell it today you would earn a total of 305.00 from holding Lincoln Educational Services or generate 22.8% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 85.0% |
| Values | Daily Returns |
PEP 445 15 FEB 33 vs. Lincoln Educational Services
Performance |
| Timeline |
| PEP 445 15 |
| Lincoln Educational |
713448FS2 and Lincoln Educational Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with 713448FS2 and Lincoln Educational
The main advantage of trading using opposite 713448FS2 and Lincoln Educational positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if 713448FS2 position performs unexpectedly, Lincoln Educational 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 Lincoln Educational will offset losses from the drop in Lincoln Educational's long position.| 713448FS2 vs. Flexible Solutions International | 713448FS2 vs. BOS Better Online | 713448FS2 vs. Western Copper and | 713448FS2 vs. Global E Online |
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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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