Correlation Analysis Between Laboratory and Leucadia National

This module allows you to analyze existing cross correlation between Laboratory Corporation of Ameri and Leucadia National Corp. You can compare the effects of market volatilities on Laboratory and Leucadia National 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 Laboratory with a short position of Leucadia National. See also your portfolio center. Please also check ongoing floating volatility patterns of Laboratory and Leucadia National.
Horizon     30 Days    Login   to change
Symbolsvs
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Comparative Performance

Laboratory of Ameri  
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Risk-Adjusted Performance

Over the last 30 days Laboratory Corporation of Ameri has generated negative risk-adjusted returns adding no value to investors with long positions. Despite nearly stable fundamental indicators, Laboratory is not utilizing all of its potentials. The current stock price disturbance, may contribute to mid-run losses for the stockholder.
Leucadia National Corp  
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Risk-Adjusted Performance

Over the last 30 days Leucadia National Corp has generated negative risk-adjusted returns adding no value to investors with long positions. Regardless of fairly consistent technical and fundamental indicators, Leucadia National is not utilizing all of its potentials. The current stock price confusion, may contribute to short-horizon losses for the traders.

Laboratory and Leucadia National Volatility Contrast

 Predicted Return Density 
      Returns 

Laboratory Corp. of Ameri  vs.  Leucadia National Corp

 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  2,482  in Leucadia National Corp on July 25, 2019 and sell it today you would earn a total of  0.00  from holding Leucadia National Corp or generate 0.0% return on investment over 30 days.

Pair Corralation between Laboratory and Leucadia National

0.0
Time Period2 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy2.27%
ValuesDaily Returns

Diversification Opportunities for Laboratory and Leucadia National

Laboratory Corp. of Ameri diversification synergy

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding Laboratory Corp. of Ameri and Leucadia National Corp in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Leucadia National Corp and Laboratory 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 Laboratory Corporation of Ameri are associated (or correlated) with Leucadia National. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Leucadia National Corp has no effect on the direction of Laboratory i.e. Laboratory and Leucadia National go up and down completely randomly.
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