Correlation Between Lombard Medical and Pfizer
Can any of the company-specific risk be diversified away by investing in both Lombard Medical and Pfizer 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 Lombard Medical and Pfizer into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Lombard Medical and Pfizer Inc, you can compare the effects of market volatilities on Lombard Medical and Pfizer 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 Lombard Medical with a short position of Pfizer. Check out your portfolio center. Please also check ongoing floating volatility patterns of Lombard Medical and Pfizer.
Diversification Opportunities for Lombard Medical and Pfizer
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Lombard and Pfizer is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Lombard Medical and Pfizer Inc in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Pfizer Inc and Lombard Medical 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 Lombard Medical are associated (or correlated) with Pfizer. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Pfizer Inc has no effect on the direction of Lombard Medical i.e., Lombard Medical and Pfizer go up and down completely randomly.
Pair Corralation between Lombard Medical and Pfizer
If you would invest 2,455 in Pfizer Inc on September 1, 2025 and sell it today you would earn a total of 119.00 from holding Pfizer Inc or generate 4.85% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Lombard Medical vs. Pfizer Inc
Performance |
| Timeline |
| Lombard Medical |
| Pfizer Inc |
Lombard Medical and Pfizer Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Lombard Medical and Pfizer
The main advantage of trading using opposite Lombard Medical and Pfizer positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Lombard Medical position performs unexpectedly, Pfizer 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 Pfizer will offset losses from the drop in Pfizer's long position.| Lombard Medical vs. Catalyst Metals Limited | Lombard Medical vs. Harmony Gold Mining | Lombard Medical vs. Getty Copper | Lombard Medical vs. Nicola Mining |
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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 Money Flow Index module to determine momentum by analyzing Money Flow Index and other technical indicators.
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