Correlation Between Lundin Gold and Bet At
Can any of the company-specific risk be diversified away by investing in both Lundin Gold and Bet At 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 Lundin Gold and Bet At into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Lundin Gold and bet at home AG, you can compare the effects of market volatilities on Lundin Gold and Bet At 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 Lundin Gold with a short position of Bet At. Check out your portfolio center. Please also check ongoing floating volatility patterns of Lundin Gold and Bet At.
Diversification Opportunities for Lundin Gold and Bet At
-0.85 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Lundin and Bet is -0.85. Overlapping area represents the amount of risk that can be diversified away by holding Lundin Gold and bet at home AG in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on bet at home and Lundin Gold 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 Lundin Gold are associated (or correlated) with Bet At. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of bet at home has no effect on the direction of Lundin Gold i.e., Lundin Gold and Bet At go up and down completely randomly.
Pair Corralation between Lundin Gold and Bet At
Assuming the 90 days trading horizon Lundin Gold is expected to generate 1.79 times more return on investment than Bet At. However, Lundin Gold is 1.79 times more volatile than bet at home AG. It trades about 0.09 of its potential returns per unit of risk. bet at home AG is currently generating about -0.14 per unit of risk. If you would invest 61,815 in Lundin Gold on September 11, 2025 and sell it today you would earn a total of 11,238 from holding Lundin Gold or generate 18.18% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Lundin Gold vs. bet at home AG
Performance |
| Timeline |
| Lundin Gold |
| bet at home |
Lundin Gold and Bet At Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Lundin Gold and Bet At
The main advantage of trading using opposite Lundin Gold and Bet At positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Lundin Gold position performs unexpectedly, Bet At 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 Bet At will offset losses from the drop in Bet At's long position.| Lundin Gold vs. Verizon Communications | Lundin Gold vs. Gamma Communications PLC | Lundin Gold vs. mobilezone holding AG | Lundin Gold vs. Orient Telecoms |
| Bet At vs. Toyota Motor Corp | Bet At vs. Samsung Electronics Co | Bet At vs. Samsung Electronics Co | Bet At vs. Samsung Electronics 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 Companies Directory module to evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals.
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