Correlation Between Willamette Valley and LLOYDS
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By analyzing existing cross correlation between Willamette Valley Vineyards and LLOYDS BANKING GROUP, you can compare the effects of market volatilities on Willamette Valley 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 Willamette Valley with a short position of LLOYDS. Check out your portfolio center. Please also check ongoing floating volatility patterns of Willamette Valley and LLOYDS.
Diversification Opportunities for Willamette Valley and LLOYDS
0.28 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Willamette and LLOYDS is 0.28. Overlapping area represents the amount of risk that can be diversified away by holding Willamette Valley Vineyards and LLOYDS BANKING GROUP in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on LLOYDS BANKING GROUP and Willamette Valley 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 Willamette Valley Vineyards 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 BANKING GROUP has no effect on the direction of Willamette Valley i.e., Willamette Valley and LLOYDS go up and down completely randomly.
Pair Corralation between Willamette Valley and LLOYDS
Given the investment horizon of 90 days Willamette Valley Vineyards is expected to under-perform the LLOYDS. In addition to that, Willamette Valley is 3.48 times more volatile than LLOYDS BANKING GROUP. It trades about -0.07 of its total potential returns per unit of risk. LLOYDS BANKING GROUP is currently generating about 0.0 per unit of volatility. If you would invest 9,691 in LLOYDS BANKING GROUP on September 3, 2024 and sell it today you would lose (20.00) from holding LLOYDS BANKING GROUP or give up 0.21% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 92.71% |
| Values | Daily Returns |
Willamette Valley Vineyards vs. LLOYDS BANKING GROUP
Performance |
| Timeline |
| Willamette Valley |
| LLOYDS BANKING GROUP |
Willamette Valley and LLOYDS Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Willamette Valley and LLOYDS
The main advantage of trading using opposite Willamette Valley and LLOYDS positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Willamette Valley 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.| Willamette Valley vs. Naked Wines plc | Willamette Valley vs. Andrew Peller Limited | Willamette Valley vs. Iconic Brands | Willamette Valley vs. Naked Wines plc |
| LLOYDS vs. Willamette Valley Vineyards | LLOYDS vs. Compania Cervecerias Unidas | LLOYDS vs. Direct Line Insurance | LLOYDS vs. Pekin Life Insurance |
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 Portfolio Volatility module to check portfolio volatility and analyze historical return density to properly model market risk.
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