Correlation Between Lipocine and MARRIOTT
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By analyzing existing cross correlation between Lipocine and MARRIOTT INTERNATIONAL INC, you can compare the effects of market volatilities on Lipocine and MARRIOTT 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 Lipocine with a short position of MARRIOTT. Check out your portfolio center. Please also check ongoing floating volatility patterns of Lipocine and MARRIOTT.
Diversification Opportunities for Lipocine and MARRIOTT
Good diversification
The 3 months correlation between Lipocine and MARRIOTT is -0.15. Overlapping area represents the amount of risk that can be diversified away by holding Lipocine and MARRIOTT INTERNATIONAL INC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on MARRIOTT INTERNATIONAL and Lipocine 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 Lipocine are associated (or correlated) with MARRIOTT. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of MARRIOTT INTERNATIONAL has no effect on the direction of Lipocine i.e., Lipocine and MARRIOTT go up and down completely randomly.
Pair Corralation between Lipocine and MARRIOTT
Given the investment horizon of 90 days Lipocine is expected to generate 8.27 times more return on investment than MARRIOTT. However, Lipocine is 8.27 times more volatile than MARRIOTT INTERNATIONAL INC. It trades about -0.01 of its potential returns per unit of risk. MARRIOTT INTERNATIONAL INC is currently generating about -0.18 per unit of risk. If you would invest 501.00 in Lipocine on September 24, 2024 and sell it today you would lose (14.00) from holding Lipocine or give up 2.79% of portfolio value over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Against |
Strength | Insignificant |
Accuracy | 100.0% |
Values | Daily Returns |
Lipocine vs. MARRIOTT INTERNATIONAL INC
Performance |
Timeline |
Lipocine |
MARRIOTT INTERNATIONAL |
Lipocine and MARRIOTT Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Lipocine and MARRIOTT
The main advantage of trading using opposite Lipocine and MARRIOTT positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Lipocine position performs unexpectedly, MARRIOTT 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 MARRIOTT will offset losses from the drop in MARRIOTT's long position.Lipocine vs. Oric Pharmaceuticals | Lipocine vs. Lyra Therapeutics | Lipocine vs. Inhibrx | Lipocine vs. ESSA Pharma |
MARRIOTT vs. Everus Construction Group | MARRIOTT vs. Lipocine | MARRIOTT vs. Amkor Technology | MARRIOTT vs. Sun Life Financial |
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 Bollinger Bands module to use Bollinger Bands indicator to analyze target price for a given investing horizon.
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