Correlation Between Triller and LKQ
Can any of the company-specific risk be diversified away by investing in both Triller and LKQ 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 Triller and LKQ into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Triller Group and LKQ Corporation, you can compare the effects of market volatilities on Triller and LKQ 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 Triller with a short position of LKQ. Check out your portfolio center. Please also check ongoing floating volatility patterns of Triller and LKQ.
Diversification Opportunities for Triller and LKQ
Very good diversification
The 3 months correlation between Triller and LKQ is -0.36. Overlapping area represents the amount of risk that can be diversified away by holding Triller Group and LKQ Corp. in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on LKQ Corporation and Triller 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 Triller Group are associated (or correlated) with LKQ. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of LKQ Corporation has no effect on the direction of Triller i.e., Triller and LKQ go up and down completely randomly.
Pair Corralation between Triller and LKQ
Given the investment horizon of 90 days Triller Group is expected to generate 6.15 times more return on investment than LKQ. However, Triller is 6.15 times more volatile than LKQ Corporation. It trades about 0.03 of its potential returns per unit of risk. LKQ Corporation is currently generating about 0.0 per unit of risk. If you would invest 56.00 in Triller Group on August 18, 2025 and sell it today you would lose (4.00) from holding Triller Group or give up 7.14% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Triller Group vs. LKQ Corp.
Performance |
| Timeline |
| Triller Group |
| LKQ Corporation |
Triller and LKQ Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Triller and LKQ
The main advantage of trading using opposite Triller and LKQ positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Triller position performs unexpectedly, LKQ 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 LKQ will offset losses from the drop in LKQ's long position.The idea behind Triller Group and LKQ Corporation pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.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 Idea Optimizer module to use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio .
Other Complementary Tools
| FinTech Suite Use AI to screen and filter profitable investment opportunities | |
| Portfolio Optimization Compute new portfolio that will generate highest expected return given your specified tolerance for risk | |
| Earnings Calls Check upcoming earnings announcements updated hourly across public exchanges | |
| Portfolio Center All portfolio management and optimization tools to improve performance of your portfolios | |
| Watchlist Optimization Optimize watchlists to build efficient portfolios or rebalance existing positions based on the mean-variance optimization algorithm |