Correlation Between Lands End and Allient
Can any of the company-specific risk be diversified away by investing in both Lands End and Allient 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 Lands End and Allient into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Lands End and Allient, you can compare the effects of market volatilities on Lands End and Allient 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 Lands End with a short position of Allient. Check out your portfolio center. Please also check ongoing floating volatility patterns of Lands End and Allient.
Diversification Opportunities for Lands End and Allient
Modest diversification
The 3 months correlation between Lands and Allient is 0.24. Overlapping area represents the amount of risk that can be diversified away by holding Lands End and Allient in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Allient and Lands End 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 Lands End are associated (or correlated) with Allient. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Allient has no effect on the direction of Lands End i.e., Lands End and Allient go up and down completely randomly.
Pair Corralation between Lands End and Allient
Allowing for the 90-day total investment horizon Lands End is expected to generate 2.52 times less return on investment than Allient. In addition to that, Lands End is 1.35 times more volatile than Allient. It trades about 0.09 of its total potential returns per unit of risk. Allient is currently generating about 0.3 per unit of volatility. If you would invest 2,034 in Allient on April 4, 2025 and sell it today you would earn a total of 1,842 from holding Allient or generate 90.56% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 98.39% |
| Values | Daily Returns |
Lands End vs. Allient
Performance |
| Timeline |
| Lands End |
| Allient |
Lands End and Allient Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Lands End and Allient
The main advantage of trading using opposite Lands End and Allient positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Lands End position performs unexpectedly, Allient 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 Allient will offset losses from the drop in Allient's long position.| Lands End vs. Take Two Interactive Software | Lands End vs. Kilroy Realty Corp | Lands End vs. Roblox Corp | Lands End vs. NetEase |
| Allient vs. Schweiter Technologies AG | Allient vs. Equitech International | Allient vs. Amkor Technology | Allient vs. JetBlue Airways Corp |
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 Technical Analysis module to check basic technical indicators and analysis based on most latest market data.
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