Correlation Between Lamar Advertising and PROCTER
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By analyzing existing cross correlation between Lamar Advertising and PROCTER GAMBLE 555, you can compare the effects of market volatilities on Lamar Advertising and PROCTER 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 Lamar Advertising with a short position of PROCTER. Check out your portfolio center. Please also check ongoing floating volatility patterns of Lamar Advertising and PROCTER.
Diversification Opportunities for Lamar Advertising and PROCTER
-0.34 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Lamar and PROCTER is -0.34. Overlapping area represents the amount of risk that can be diversified away by holding Lamar Advertising and PROCTER GAMBLE 555 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on PROCTER GAMBLE 555 and Lamar Advertising 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 Lamar Advertising are associated (or correlated) with PROCTER. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of PROCTER GAMBLE 555 has no effect on the direction of Lamar Advertising i.e., Lamar Advertising and PROCTER go up and down completely randomly.
Pair Corralation between Lamar Advertising and PROCTER
Given the investment horizon of 90 days Lamar Advertising is expected to generate 2.07 times more return on investment than PROCTER. However, Lamar Advertising is 2.07 times more volatile than PROCTER GAMBLE 555. It trades about 0.06 of its potential returns per unit of risk. PROCTER GAMBLE 555 is currently generating about -0.1 per unit of risk. If you would invest 12,643 in Lamar Advertising on September 4, 2025 and sell it today you would earn a total of 580.00 from holding Lamar Advertising or generate 4.59% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 76.56% |
| Values | Daily Returns |
Lamar Advertising vs. PROCTER GAMBLE 555
Performance |
| Timeline |
| Lamar Advertising |
| PROCTER GAMBLE 555 |
Lamar Advertising and PROCTER Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Lamar Advertising and PROCTER
The main advantage of trading using opposite Lamar Advertising and PROCTER positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Lamar Advertising position performs unexpectedly, PROCTER 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 PROCTER will offset losses from the drop in PROCTER's long position.| Lamar Advertising vs. Addus HomeCare | Lamar Advertising vs. Hooker Furniture | Lamar Advertising vs. Piedmont Office Realty | Lamar Advertising vs. LGI Homes |
| PROCTER vs. Hanover Foods | PROCTER vs. Affinity Beverage Group | PROCTER vs. Air Lease | PROCTER vs. Slate Grocery REIT |
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 Bond Analysis module to evaluate and analyze corporate bonds as a potential investment for your portfolios..
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