Correlation Between Hartford Growth and Lennar
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By analyzing existing cross correlation between The Hartford Growth and Lennar 475 percent, you can compare the effects of market volatilities on Hartford Growth and Lennar 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 Hartford Growth with a short position of Lennar. Check out your portfolio center. Please also check ongoing floating volatility patterns of Hartford Growth and Lennar.
Diversification Opportunities for Hartford Growth and Lennar
-0.37 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Hartford and Lennar is -0.37. Overlapping area represents the amount of risk that can be diversified away by holding The Hartford Growth and Lennar 475 percent in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Lennar 475 percent and Hartford Growth 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 The Hartford Growth are associated (or correlated) with Lennar. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Lennar 475 percent has no effect on the direction of Hartford Growth i.e., Hartford Growth and Lennar go up and down completely randomly.
Pair Corralation between Hartford Growth and Lennar
Assuming the 90 days horizon The Hartford Growth is expected to generate 4.31 times more return on investment than Lennar. However, Hartford Growth is 4.31 times more volatile than Lennar 475 percent. It trades about 0.17 of its potential returns per unit of risk. Lennar 475 percent is currently generating about -0.12 per unit of risk. If you would invest 6,027 in The Hartford Growth on September 24, 2024 and sell it today you would earn a total of 730.00 from holding The Hartford Growth or generate 12.11% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Against |
Strength | Insignificant |
Accuracy | 93.85% |
Values | Daily Returns |
The Hartford Growth vs. Lennar 475 percent
Performance |
Timeline |
Hartford Growth |
Lennar 475 percent |
Hartford Growth and Lennar Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Hartford Growth and Lennar
The main advantage of trading using opposite Hartford Growth and Lennar positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Hartford Growth position performs unexpectedly, Lennar 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 Lennar will offset losses from the drop in Lennar's long position.Hartford Growth vs. The Hartford Dividend | Hartford Growth vs. The Hartford Capital | Hartford Growth vs. The Hartford Equity | Hartford Growth vs. The Hartford Midcap |
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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 Performance Analysis module to check effects of mean-variance optimization against your current asset allocation.
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