Correlation Between Lattice Semiconductor and BioNTech
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By analyzing existing cross correlation between Lattice Semiconductor and BioNTech SE, you can compare the effects of market volatilities on Lattice Semiconductor and BioNTech 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 Lattice Semiconductor with a short position of BioNTech. Check out your portfolio center. Please also check ongoing floating volatility patterns of Lattice Semiconductor and BioNTech.
Diversification Opportunities for Lattice Semiconductor and BioNTech
-0.26 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Lattice and BioNTech is -0.26. Overlapping area represents the amount of risk that can be diversified away by holding Lattice Semiconductor and BioNTech SE in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on BioNTech SE and Lattice Semiconductor 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 Lattice Semiconductor are associated (or correlated) with BioNTech. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BioNTech SE has no effect on the direction of Lattice Semiconductor i.e., Lattice Semiconductor and BioNTech go up and down completely randomly.
Pair Corralation between Lattice Semiconductor and BioNTech
Assuming the 90 days horizon Lattice Semiconductor is expected to generate 1.28 times more return on investment than BioNTech. However, Lattice Semiconductor is 1.28 times more volatile than BioNTech SE. It trades about 0.08 of its potential returns per unit of risk. BioNTech SE is currently generating about -0.03 per unit of risk. If you would invest 3,749 in Lattice Semiconductor on April 24, 2025 and sell it today you would earn a total of 665.00 from holding Lattice Semiconductor or generate 17.74% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Against |
Strength | Insignificant |
Accuracy | 100.0% |
Values | Daily Returns |
Lattice Semiconductor vs. BioNTech SE
Performance |
Timeline |
Lattice Semiconductor |
BioNTech SE |
Lattice Semiconductor and BioNTech Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Lattice Semiconductor and BioNTech
The main advantage of trading using opposite Lattice Semiconductor and BioNTech positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Lattice Semiconductor position performs unexpectedly, BioNTech 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 BioNTech will offset losses from the drop in BioNTech's long position.Lattice Semiconductor vs. Lifeway Foods | Lattice Semiconductor vs. Constellation Software | Lattice Semiconductor vs. Cal Maine Foods | Lattice Semiconductor vs. Alfa Financial Software |
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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 Cryptocurrency Center module to build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency.
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