Correlation Between Lotus Eye and 360 ONE
Specify exactly 2 symbols:
By analyzing existing cross correlation between Lotus Eye Hospital and 360 ONE WAM, you can compare the effects of market volatilities on Lotus Eye and 360 ONE 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 Lotus Eye with a short position of 360 ONE. Check out your portfolio center. Please also check ongoing floating volatility patterns of Lotus Eye and 360 ONE.
Diversification Opportunities for Lotus Eye and 360 ONE
Average diversification
The 3 months correlation between Lotus and 360 is 0.1. Overlapping area represents the amount of risk that can be diversified away by holding Lotus Eye Hospital and 360 ONE WAM in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on 360 ONE WAM and Lotus Eye 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 Lotus Eye Hospital are associated (or correlated) with 360 ONE. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of 360 ONE WAM has no effect on the direction of Lotus Eye i.e., Lotus Eye and 360 ONE go up and down completely randomly.
Pair Corralation between Lotus Eye and 360 ONE
Assuming the 90 days trading horizon Lotus Eye is expected to generate 1.66 times less return on investment than 360 ONE. In addition to that, Lotus Eye is 1.19 times more volatile than 360 ONE WAM. It trades about 0.21 of its total potential returns per unit of risk. 360 ONE WAM is currently generating about 0.41 per unit of volatility. If you would invest 104,805 in 360 ONE WAM on September 18, 2024 and sell it today you would earn a total of 19,435 from holding 360 ONE WAM or generate 18.54% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Insignificant |
Accuracy | 100.0% |
Values | Daily Returns |
Lotus Eye Hospital vs. 360 ONE WAM
Performance |
Timeline |
Lotus Eye Hospital |
360 ONE WAM |
Lotus Eye and 360 ONE Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Lotus Eye and 360 ONE
The main advantage of trading using opposite Lotus Eye and 360 ONE positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Lotus Eye position performs unexpectedly, 360 ONE 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 360 ONE will offset losses from the drop in 360 ONE's long position.Lotus Eye vs. LLOYDS METALS AND | Lotus Eye vs. POWERGRID Infrastructure Investment | Lotus Eye vs. Nalwa Sons Investments | Lotus Eye vs. Hilton Metal Forging |
360 ONE vs. The Byke Hospitality | 360 ONE vs. EMBASSY OFFICE PARKS | 360 ONE vs. Lotus Eye Hospital | 360 ONE vs. Metropolis Healthcare Limited |
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 Theme Ratings module to determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance.
Other Complementary Tools
Latest Portfolios Quick portfolio dashboard that showcases your latest portfolios | |
Insider Screener Find insiders across different sectors to evaluate their impact on performance | |
Investing Opportunities Build portfolios using our predefined set of ideas and optimize them against your investing preferences | |
Theme Ratings Determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
Instant Ratings Determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance |