Correlation Between 83051GAT5 and Lakeland Industries
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By analyzing existing cross correlation between SEB 12 09 SEP 26 and Lakeland Industries, you can compare the effects of market volatilities on 83051GAT5 and Lakeland Industries 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 83051GAT5 with a short position of Lakeland Industries. Check out your portfolio center. Please also check ongoing floating volatility patterns of 83051GAT5 and Lakeland Industries.
Diversification Opportunities for 83051GAT5 and Lakeland Industries
-0.48 | Correlation Coefficient |
Very good diversification
The 3 months correlation between 83051GAT5 and Lakeland is -0.48. Overlapping area represents the amount of risk that can be diversified away by holding SEB 12 09 SEP 26 and Lakeland Industries in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Lakeland Industries and 83051GAT5 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 SEB 12 09 SEP 26 are associated (or correlated) with Lakeland Industries. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Lakeland Industries has no effect on the direction of 83051GAT5 i.e., 83051GAT5 and Lakeland Industries go up and down completely randomly.
Pair Corralation between 83051GAT5 and Lakeland Industries
Assuming the 90 days trading horizon SEB 12 09 SEP 26 is expected to under-perform the Lakeland Industries. But the bond apears to be less risky and, when comparing its historical volatility, SEB 12 09 SEP 26 is 21.18 times less risky than Lakeland Industries. The bond trades about -0.1 of its potential returns per unit of risk. The Lakeland Industries is currently generating about 0.15 of returns per unit of risk over similar time horizon. If you would invest 2,005 in Lakeland Industries on August 27, 2024 and sell it today you would earn a total of 156.00 from holding Lakeland Industries or generate 7.78% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 47.62% |
| Values | Daily Returns |
SEB 12 09 SEP 26 vs. Lakeland Industries
Performance |
| Timeline |
| SEB 12 09 |
| Lakeland Industries |
83051GAT5 and Lakeland Industries Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with 83051GAT5 and Lakeland Industries
The main advantage of trading using opposite 83051GAT5 and Lakeland Industries positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if 83051GAT5 position performs unexpectedly, Lakeland Industries 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 Lakeland Industries will offset losses from the drop in Lakeland Industries' long position.| 83051GAT5 vs. Lakeland Industries | 83051GAT5 vs. Vera Bradley | 83051GAT5 vs. National Vision Holdings | 83051GAT5 vs. Cedar Realty Trust |
| Lakeland Industries vs. Vince Holding Corp | Lakeland Industries vs. Oxford Industries | Lakeland Industries vs. Gildan Activewear | Lakeland Industries vs. Columbia Sportswear |
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 Competition Analyzer module to analyze and compare many basic indicators for a group of related or unrelated entities.
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