Correlation Between 26442UAP9 and Lincoln Educational
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By analyzing existing cross correlation between DUK 4 01 APR 52 and Lincoln Educational Services, you can compare the effects of market volatilities on 26442UAP9 and Lincoln Educational 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 26442UAP9 with a short position of Lincoln Educational. Check out your portfolio center. Please also check ongoing floating volatility patterns of 26442UAP9 and Lincoln Educational.
Diversification Opportunities for 26442UAP9 and Lincoln Educational
-0.49 | Correlation Coefficient |
Very good diversification
The 3 months correlation between 26442UAP9 and Lincoln is -0.49. Overlapping area represents the amount of risk that can be diversified away by holding DUK 4 01 APR 52 and Lincoln Educational Services in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Lincoln Educational and 26442UAP9 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 DUK 4 01 APR 52 are associated (or correlated) with Lincoln Educational. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Lincoln Educational has no effect on the direction of 26442UAP9 i.e., 26442UAP9 and Lincoln Educational go up and down completely randomly.
Pair Corralation between 26442UAP9 and Lincoln Educational
Assuming the 90 days trading horizon 26442UAP9 is expected to generate 3.84 times less return on investment than Lincoln Educational. But when comparing it to its historical volatility, DUK 4 01 APR 52 is 1.69 times less risky than Lincoln Educational. It trades about 0.02 of its potential returns per unit of risk. Lincoln Educational Services is currently generating about 0.05 of returns per unit of risk over similar time horizon. If you would invest 1,415 in Lincoln Educational Services on October 25, 2024 and sell it today you would earn a total of 179.50 from holding Lincoln Educational Services or generate 12.69% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Against |
Strength | Very Weak |
Accuracy | 64.23% |
Values | Daily Returns |
DUK 4 01 APR 52 vs. Lincoln Educational Services
Performance |
Timeline |
26442UAP9 |
Lincoln Educational |
26442UAP9 and Lincoln Educational Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with 26442UAP9 and Lincoln Educational
The main advantage of trading using opposite 26442UAP9 and Lincoln Educational positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if 26442UAP9 position performs unexpectedly, Lincoln Educational 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 Lincoln Educational will offset losses from the drop in Lincoln Educational's long position.26442UAP9 vs. SNDL Inc | 26442UAP9 vs. Alvotech | 26442UAP9 vs. Amkor Technology | 26442UAP9 vs. Compania Cervecerias Unidas |
Lincoln Educational vs. Vasta Platform | Lincoln Educational vs. Laureate Education | Lincoln Educational vs. American Public Education | Lincoln Educational vs. Adtalem Global Education |
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 Price Exposure Probability module to analyze equity upside and downside potential for a given time horizon across multiple markets.
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