Correlation Between Walmart and LLOYDS
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By analyzing existing cross correlation between Walmart and LLOYDS BKG GROUP, you can compare the effects of market volatilities on Walmart and LLOYDS 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 Walmart with a short position of LLOYDS. Check out your portfolio center. Please also check ongoing floating volatility patterns of Walmart and LLOYDS.
Diversification Opportunities for Walmart and LLOYDS
Very good diversification
The 3 months correlation between Walmart and LLOYDS is -0.45. Overlapping area represents the amount of risk that can be diversified away by holding Walmart and LLOYDS BKG GROUP in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on LLOYDS BKG GROUP and Walmart 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 Walmart are associated (or correlated) with LLOYDS. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of LLOYDS BKG GROUP has no effect on the direction of Walmart i.e., Walmart and LLOYDS go up and down completely randomly.
Pair Corralation between Walmart and LLOYDS
Considering the 90-day investment horizon Walmart is expected to generate 2.82 times more return on investment than LLOYDS. However, Walmart is 2.82 times more volatile than LLOYDS BKG GROUP. It trades about 0.36 of its potential returns per unit of risk. LLOYDS BKG GROUP is currently generating about -0.33 per unit of risk. If you would invest 8,304 in Walmart on August 25, 2024 and sell it today you would earn a total of 740.00 from holding Walmart or generate 8.91% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 69.57% |
| Values | Daily Returns |
Walmart vs. LLOYDS BKG GROUP
Performance |
| Timeline |
| Walmart |
| LLOYDS BKG GROUP |
Walmart and LLOYDS Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Walmart and LLOYDS
The main advantage of trading using opposite Walmart and LLOYDS positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Walmart position performs unexpectedly, LLOYDS 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 LLOYDS will offset losses from the drop in LLOYDS's long position.| Walmart vs. Costco Wholesale Corp | Walmart vs. Dollar Tree | Walmart vs. BJs Wholesale Club | Walmart vs. Target |
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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 Latest Portfolios module to quick portfolio dashboard that showcases your latest portfolios.
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