Correlation Between Ziggo and Lululemon Athletica
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By analyzing existing cross correlation between Ziggo 4875 percent and Lululemon Athletica, you can compare the effects of market volatilities on Ziggo and Lululemon Athletica 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 Ziggo with a short position of Lululemon Athletica. Check out your portfolio center. Please also check ongoing floating volatility patterns of Ziggo and Lululemon Athletica.
Diversification Opportunities for Ziggo and Lululemon Athletica
-0.5 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Ziggo and Lululemon is -0.5. Overlapping area represents the amount of risk that can be diversified away by holding Ziggo 4875 percent and Lululemon Athletica in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Lululemon Athletica and Ziggo 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 Ziggo 4875 percent are associated (or correlated) with Lululemon Athletica. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Lululemon Athletica has no effect on the direction of Ziggo i.e., Ziggo and Lululemon Athletica go up and down completely randomly.
Pair Corralation between Ziggo and Lululemon Athletica
Assuming the 90 days trading horizon Ziggo 4875 percent is expected to under-perform the Lululemon Athletica. But the bond apears to be less risky and, when comparing its historical volatility, Ziggo 4875 percent is 2.27 times less risky than Lululemon Athletica. The bond trades about -0.36 of its potential returns per unit of risk. The Lululemon Athletica is currently generating about 0.12 of returns per unit of risk over similar time horizon. If you would invest 30,754 in Lululemon Athletica on August 28, 2024 and sell it today you would earn a total of 1,918 from holding Lululemon Athletica or generate 6.24% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Ziggo 4875 percent vs. Lululemon Athletica
Performance |
| Timeline |
| Ziggo 4875 percent |
| Lululemon Athletica |
Ziggo and Lululemon Athletica Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Ziggo and Lululemon Athletica
The main advantage of trading using opposite Ziggo and Lululemon Athletica positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Ziggo position performs unexpectedly, Lululemon Athletica 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 Lululemon Athletica will offset losses from the drop in Lululemon Athletica's long position.| Ziggo vs. AEP TEX INC | Ziggo vs. US BANK NATIONAL | Ziggo vs. Omega Healthcare Investors | Ziggo vs. Zoom Video Communications |
| Lululemon Athletica vs. VF Corporation | Lululemon Athletica vs. Levi Strauss Co | Lululemon Athletica vs. Under Armour A | Lululemon Athletica vs. Oxford Industries |
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 Sectors module to list of equity sectors categorizing publicly traded companies based on their primary business activities.
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