Correlation Between Lakeside Holding and Captivision Ordinary
Can any of the company-specific risk be diversified away by investing in both Lakeside Holding and Captivision Ordinary 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 Lakeside Holding and Captivision Ordinary into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Lakeside Holding Limited and Captivision Ordinary Shares, you can compare the effects of market volatilities on Lakeside Holding and Captivision Ordinary 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 Lakeside Holding with a short position of Captivision Ordinary. Check out your portfolio center. Please also check ongoing floating volatility patterns of Lakeside Holding and Captivision Ordinary.
Diversification Opportunities for Lakeside Holding and Captivision Ordinary
0.01 | Correlation Coefficient |
Significant diversification
The 3 months correlation between Lakeside and Captivision is 0.01. Overlapping area represents the amount of risk that can be diversified away by holding Lakeside Holding Limited and Captivision Ordinary Shares in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Captivision Ordinary and Lakeside Holding 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 Lakeside Holding Limited are associated (or correlated) with Captivision Ordinary. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Captivision Ordinary has no effect on the direction of Lakeside Holding i.e., Lakeside Holding and Captivision Ordinary go up and down completely randomly.
Pair Corralation between Lakeside Holding and Captivision Ordinary
Considering the 90-day investment horizon Lakeside Holding Limited is expected to under-perform the Captivision Ordinary. But the stock apears to be less risky and, when comparing its historical volatility, Lakeside Holding Limited is 1.48 times less risky than Captivision Ordinary. The stock trades about -0.08 of its potential returns per unit of risk. The Captivision Ordinary Shares is currently generating about -0.03 of returns per unit of risk over similar time horizon. If you would invest 120.00 in Captivision Ordinary Shares on September 4, 2025 and sell it today you would lose (32.00) from holding Captivision Ordinary Shares or give up 26.67% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Lakeside Holding Limited vs. Captivision Ordinary Shares
Performance |
| Timeline |
| Lakeside Holding |
| Captivision Ordinary |
Lakeside Holding and Captivision Ordinary Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Lakeside Holding and Captivision Ordinary
The main advantage of trading using opposite Lakeside Holding and Captivision Ordinary positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Lakeside Holding position performs unexpectedly, Captivision Ordinary 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 Captivision Ordinary will offset losses from the drop in Captivision Ordinary's long position.| Lakeside Holding vs. Amer Sports, | Lakeside Holding vs. Academy Sports Outdoors | Lakeside Holding vs. Silicon Motion Technology | Lakeside Holding vs. LG Display Co |
| Captivision Ordinary vs. United Utilities Group | Captivision Ordinary vs. Essential Utilities | Captivision Ordinary vs. Vulcan Materials | Captivision Ordinary vs. Healthy Coffee International |
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 Theme Ratings module to determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance.
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