Eli Capex To Revenue from 2010 to 2024
| LLY Stock | 29.64 0.08 0.27% |
Check Eli Lilly financial statements over time to gain insight into future company performance. You can evaluate financial statements to find patterns among Eli Lilly's main balance sheet or income statement drivers, such as , as well as many indicators such as . Eli financial statements analysis is a perfect complement when working with Eli Lilly Valuation or Volatility modules.
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Pair Trading with Eli Lilly
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Eli Lilly position performs unexpectedly, the other equity 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 Eli Lilly will appreciate offsetting losses from the drop in the long position's value.Moving against Eli Stock
| 0.86 | DAY | Dayforce | PairCorr |
| 0.83 | RBA | Ritchie Bros Auctioneers | PairCorr |
| 0.82 | IAG | iA Financial | PairCorr |
| 0.81 | BAM | Brookfield Asset Man | PairCorr |
| 0.8 | JPM | JPMorgan Chase | PairCorr |
The ability to find closely correlated positions to Eli Lilly could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Eli Lilly when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Eli Lilly - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Eli Lilly and to buy it.
The correlation of Eli Lilly is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Eli Lilly moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Eli Lilly moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for Eli Lilly can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Check out the analysis of Eli Lilly Correlation against competitors. You can also try the Idea Analyzer module to analyze all characteristics, volatility and risk-adjusted return of Macroaxis ideas.