Correlation Between LeapFrog Enterprises and Acushnet Holdings
Can any of the company-specific risk be diversified away by investing in both LeapFrog Enterprises and Acushnet Holdings at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining LeapFrog Enterprises and Acushnet Holdings into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between LeapFrog Enterprises and Acushnet Holdings Corp, you can compare the effects of market volatilities on LeapFrog Enterprises and Acushnet Holdings 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 LeapFrog Enterprises with a short position of Acushnet Holdings. Check out your portfolio center. Please also check ongoing floating volatility patterns of LeapFrog Enterprises and Acushnet Holdings.
Diversification Opportunities for LeapFrog Enterprises and Acushnet Holdings
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between LeapFrog and Acushnet is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding LeapFrog Enterprises and Acushnet Holdings Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Acushnet Holdings Corp and LeapFrog Enterprises 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 LeapFrog Enterprises are associated (or correlated) with Acushnet Holdings. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Acushnet Holdings Corp has no effect on the direction of LeapFrog Enterprises i.e., LeapFrog Enterprises and Acushnet Holdings go up and down completely randomly.
Pair Corralation between LeapFrog Enterprises and Acushnet Holdings
If you would invest (100.00) in LeapFrog Enterprises on January 26, 2024 and sell it today you would earn a total of 100.00 from holding LeapFrog Enterprises or generate -100.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
LeapFrog Enterprises vs. Acushnet Holdings Corp
Performance |
| Timeline |
| LeapFrog Enterprises |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| Acushnet Holdings Corp |
LeapFrog Enterprises and Acushnet Holdings Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with LeapFrog Enterprises and Acushnet Holdings
The main advantage of trading using opposite LeapFrog Enterprises and Acushnet Holdings positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if LeapFrog Enterprises position performs unexpectedly, Acushnet Holdings 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 Acushnet Holdings will offset losses from the drop in Acushnet Holdings' long position.| LeapFrog Enterprises vs. Cadence Design Systems | LeapFrog Enterprises vs. Stepstone Group | LeapFrog Enterprises vs. US Global Investors | LeapFrog Enterprises vs. Park City Group |
| Acushnet Holdings vs. First Business Financial | Acushnet Holdings vs. Flexsteel Industries | Acushnet Holdings vs. Superior Uniform Group | Acushnet Holdings vs. Eastern Co |
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 Stock Tickers module to use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites.
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