Correlation Between Lery Seafood and Coca Cola
Specify exactly 2 symbols:
By analyzing existing cross correlation between Lery Seafood Group and The Coca Cola, you can compare the effects of market volatilities on Lery Seafood and Coca Cola 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 Lery Seafood with a short position of Coca Cola. Check out your portfolio center. Please also check ongoing floating volatility patterns of Lery Seafood and Coca Cola.
Diversification Opportunities for Lery Seafood and Coca Cola
0.29 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Lery and Coca is 0.29. Overlapping area represents the amount of risk that can be diversified away by holding Lery Seafood Group and The Coca Cola in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Coca Cola and Lery Seafood 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 Lery Seafood Group are associated (or correlated) with Coca Cola. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Coca Cola has no effect on the direction of Lery Seafood i.e., Lery Seafood and Coca Cola go up and down completely randomly.
Pair Corralation between Lery Seafood and Coca Cola
Assuming the 90 days horizon Lery Seafood Group is expected to generate 1.43 times more return on investment than Coca Cola. However, Lery Seafood is 1.43 times more volatile than The Coca Cola. It trades about 0.33 of its potential returns per unit of risk. The Coca Cola is currently generating about 0.05 per unit of risk. If you would invest 414.00 in Lery Seafood Group on October 30, 2024 and sell it today you would earn a total of 38.00 from holding Lery Seafood Group or generate 9.18% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 95.0% |
| Values | Daily Returns |
Lery Seafood Group vs. The Coca Cola
Performance |
| Timeline |
| Lery Seafood Group |
| Coca Cola |
Lery Seafood and Coca Cola Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Lery Seafood and Coca Cola
The main advantage of trading using opposite Lery Seafood and Coca Cola positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Lery Seafood position performs unexpectedly, Coca Cola 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 Coca Cola will offset losses from the drop in Coca Cola's long position.| Lery Seafood vs. Mowi ASA | Lery Seafood vs. LEROY SEAFOOD GRUNSPADR | Lery Seafood vs. Yihai International Holding | Lery Seafood vs. Lery Seafood Group |
| Coca Cola vs. The Home Depot | Coca Cola vs. HOME DEPOT | Coca Cola vs. UNITED RENTALS | Coca Cola vs. Autohome ADR |
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 Bonds Directory module to find actively traded corporate debentures issued by US companies.
Other Complementary Tools
| ETFs Find actively traded Exchange Traded Funds (ETF) from around the world | |
| Economic Indicators Top statistical indicators that provide insights into how an economy is performing | |
| Commodity Channel Use Commodity Channel Index to analyze current equity momentum | |
| Portfolio Manager State of the art Portfolio Manager to monitor and improve performance of your invested capital | |
| Fundamentals Comparison Compare fundamentals across multiple equities to find investing opportunities |