Correlation Between LPKF Laser and Roper Technologies,
Can any of the company-specific risk be diversified away by investing in both LPKF Laser and Roper Technologies, 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 LPKF Laser and Roper Technologies, into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between LPKF Laser Electronics and Roper Technologies,, you can compare the effects of market volatilities on LPKF Laser and Roper Technologies, 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 LPKF Laser with a short position of Roper Technologies,. Check out your portfolio center. Please also check ongoing floating volatility patterns of LPKF Laser and Roper Technologies,.
Diversification Opportunities for LPKF Laser and Roper Technologies,
0.37 | Correlation Coefficient |
Weak diversification
The 3 months correlation between LPKF and Roper is 0.37. Overlapping area represents the amount of risk that can be diversified away by holding LPKF Laser Electronics and Roper Technologies, in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Roper Technologies, and LPKF Laser 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 LPKF Laser Electronics are associated (or correlated) with Roper Technologies,. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Roper Technologies, has no effect on the direction of LPKF Laser i.e., LPKF Laser and Roper Technologies, go up and down completely randomly.
Pair Corralation between LPKF Laser and Roper Technologies,
Assuming the 90 days horizon LPKF Laser Electronics is expected to generate 1.07 times more return on investment than Roper Technologies,. However, LPKF Laser is 1.07 times more volatile than Roper Technologies,. It trades about -0.14 of its potential returns per unit of risk. Roper Technologies, is currently generating about -0.19 per unit of risk. If you would invest 931.00 in LPKF Laser Electronics on August 27, 2025 and sell it today you would lose (113.00) from holding LPKF Laser Electronics or give up 12.14% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 98.44% |
| Values | Daily Returns |
LPKF Laser Electronics vs. Roper Technologies,
Performance |
| Timeline |
| LPKF Laser Electronics |
| Roper Technologies, |
LPKF Laser and Roper Technologies, Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with LPKF Laser and Roper Technologies,
The main advantage of trading using opposite LPKF Laser and Roper Technologies, positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if LPKF Laser position performs unexpectedly, Roper Technologies, 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 Roper Technologies, will offset losses from the drop in Roper Technologies,'s long position.| LPKF Laser vs. SM Investments | LPKF Laser vs. First Foods Group | LPKF Laser vs. AGNC Investment Corp | LPKF Laser vs. Genufood Energy |
| Roper Technologies, vs. Triumph Apparel | Roper Technologies, vs. China Tontine Wines | Roper Technologies, vs. Crimson Wine | Roper Technologies, vs. Kestra Medical Technologies, |
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 Stock Screener module to find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook..
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