Correlation Between Integrated Diagnostics and LPKF Laser
Can any of the company-specific risk be diversified away by investing in both Integrated Diagnostics and LPKF Laser 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 Integrated Diagnostics and LPKF Laser into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Integrated Diagnostics Holdings and LPKF Laser Electronics, you can compare the effects of market volatilities on Integrated Diagnostics and LPKF Laser 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 Integrated Diagnostics with a short position of LPKF Laser. Check out your portfolio center. Please also check ongoing floating volatility patterns of Integrated Diagnostics and LPKF Laser.
Diversification Opportunities for Integrated Diagnostics and LPKF Laser
-0.85 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Integrated and LPKF is -0.85. Overlapping area represents the amount of risk that can be diversified away by holding Integrated Diagnostics Holding and LPKF Laser Electronics in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on LPKF Laser Electronics and Integrated Diagnostics 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 Integrated Diagnostics Holdings are associated (or correlated) with LPKF Laser. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of LPKF Laser Electronics has no effect on the direction of Integrated Diagnostics i.e., Integrated Diagnostics and LPKF Laser go up and down completely randomly.
Pair Corralation between Integrated Diagnostics and LPKF Laser
Assuming the 90 days trading horizon Integrated Diagnostics Holdings is expected to generate 1.89 times more return on investment than LPKF Laser. However, Integrated Diagnostics is 1.89 times more volatile than LPKF Laser Electronics. It trades about 0.15 of its potential returns per unit of risk. LPKF Laser Electronics is currently generating about -0.24 per unit of risk. If you would invest 47.00 in Integrated Diagnostics Holdings on August 29, 2025 and sell it today you would earn a total of 19.00 from holding Integrated Diagnostics Holdings or generate 40.43% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Integrated Diagnostics Holding vs. LPKF Laser Electronics
Performance |
| Timeline |
| Integrated Diagnostics |
| LPKF Laser Electronics |
Integrated Diagnostics and LPKF Laser Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Integrated Diagnostics and LPKF Laser
The main advantage of trading using opposite Integrated Diagnostics and LPKF Laser positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Integrated Diagnostics position performs unexpectedly, LPKF Laser 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 LPKF Laser will offset losses from the drop in LPKF Laser's long position.| Integrated Diagnostics vs. Amedeo Air Four | Integrated Diagnostics vs. Alaska Air Group | Integrated Diagnostics vs. Fair Oaks Income | Integrated Diagnostics vs. Power Metal Resources |
| LPKF Laser vs. Clean Power Hydrogen | LPKF Laser vs. Aptitude Software Group | LPKF Laser vs. FC Investment Trust | LPKF Laser vs. Smithson Investment Trust |
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 Odds Of Bankruptcy module to get analysis of equity chance of financial distress in the next 2 years.
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