Correlation Between Levima Advanced and Core Molding
Specify exactly 2 symbols:
By analyzing existing cross correlation between Levima Advanced Materials and Core Molding Technologies, you can compare the effects of market volatilities on Levima Advanced and Core Molding 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 Levima Advanced with a short position of Core Molding. Check out your portfolio center. Please also check ongoing floating volatility patterns of Levima Advanced and Core Molding.
Diversification Opportunities for Levima Advanced and Core Molding
-0.46 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Levima and Core is -0.46. Overlapping area represents the amount of risk that can be diversified away by holding Levima Advanced Materials and Core Molding Technologies in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Core Molding Technologies and Levima Advanced 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 Levima Advanced Materials are associated (or correlated) with Core Molding. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Core Molding Technologies has no effect on the direction of Levima Advanced i.e., Levima Advanced and Core Molding go up and down completely randomly.
Pair Corralation between Levima Advanced and Core Molding
Assuming the 90 days trading horizon Levima Advanced Materials is expected to generate 0.9 times more return on investment than Core Molding. However, Levima Advanced Materials is 1.11 times less risky than Core Molding. It trades about 0.0 of its potential returns per unit of risk. Core Molding Technologies is currently generating about -0.05 per unit of risk. If you would invest 2,063 in Levima Advanced Materials on October 10, 2025 and sell it today you would lose (28.00) from holding Levima Advanced Materials or give up 1.36% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 97.56% |
| Values | Daily Returns |
Levima Advanced Materials vs. Core Molding Technologies
Performance |
| Timeline |
| Levima Advanced Materials |
| Core Molding Technologies |
Levima Advanced and Core Molding Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Levima Advanced and Core Molding
The main advantage of trading using opposite Levima Advanced and Core Molding positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Levima Advanced position performs unexpectedly, Core Molding 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 Core Molding will offset losses from the drop in Core Molding's long position.| Levima Advanced vs. Giantec Semiconductor Corp | Levima Advanced vs. China National Software | Levima Advanced vs. Glodon Software Co | Levima Advanced vs. Servyou Software Group |
| Core Molding vs. Friedman Industries Common | Core Molding vs. Lavoro Limited Class | Core Molding vs. FutureFuel Corp | Core Molding vs. Flexible Solutions International |
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 Backtesting module to avoid under-diversification and over-optimization by backtesting your portfolios.
Other Complementary Tools
| Efficient Frontier Plot and analyze your portfolio and positions against risk-return landscape of the market. | |
| Correlation Analysis Reduce portfolio risk simply by holding instruments which are not perfectly correlated | |
| Portfolio Backtesting Avoid under-diversification and over-optimization by backtesting your portfolios | |
| Pair Correlation Compare performance and examine fundamental relationship between any two equity instruments | |
| CEOs Directory Screen CEOs from public companies around the world |