Correlation Between Semler Scientific and LENNAR
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By analyzing existing cross correlation between Semler Scientific and LENNAR P 525, you can compare the effects of market volatilities on Semler Scientific 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 Semler Scientific with a short position of LENNAR. Check out your portfolio center. Please also check ongoing floating volatility patterns of Semler Scientific and LENNAR.
Diversification Opportunities for Semler Scientific and LENNAR
-0.54 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Semler and LENNAR is -0.54. Overlapping area represents the amount of risk that can be diversified away by holding Semler Scientific and LENNAR P 525 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on LENNAR P 525 and Semler Scientific 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 Semler Scientific 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 P 525 has no effect on the direction of Semler Scientific i.e., Semler Scientific and LENNAR go up and down completely randomly.
Pair Corralation between Semler Scientific and LENNAR
Given the investment horizon of 90 days Semler Scientific is expected to generate 33.03 times more return on investment than LENNAR. However, Semler Scientific is 33.03 times more volatile than LENNAR P 525. It trades about 0.22 of its potential returns per unit of risk. LENNAR P 525 is currently generating about -0.07 per unit of risk. If you would invest 2,282 in Semler Scientific on September 24, 2024 and sell it today you would earn a total of 3,884 from holding Semler Scientific or generate 170.2% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Against |
Strength | Very Weak |
Accuracy | 92.31% |
Values | Daily Returns |
Semler Scientific vs. LENNAR P 525
Performance |
Timeline |
Semler Scientific |
LENNAR P 525 |
Semler Scientific and LENNAR Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Semler Scientific and LENNAR
The main advantage of trading using opposite Semler Scientific and LENNAR positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Semler Scientific 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.Semler Scientific vs. CVRx Inc | Semler Scientific vs. SurModics | Semler Scientific vs. Pulmonx Corp | Semler Scientific vs. Orthofix Medical |
LENNAR vs. Fidus Investment Corp | LENNAR vs. Western Acquisition Ventures | LENNAR vs. Bluerock Homes Trust | LENNAR vs. Cedar Realty Trust |
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 Portfolio Diagnostics module to use generated alerts and portfolio events aggregator to diagnose current holdings.
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