Correlation Between Shenzhen Centralcon and Markor International
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By analyzing existing cross correlation between Shenzhen Centralcon Investment and Markor International Home, you can compare the effects of market volatilities on Shenzhen Centralcon and Markor International 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 Shenzhen Centralcon with a short position of Markor International. Check out your portfolio center. Please also check ongoing floating volatility patterns of Shenzhen Centralcon and Markor International.
Diversification Opportunities for Shenzhen Centralcon and Markor International
0.9 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Shenzhen and Markor is 0.9. Overlapping area represents the amount of risk that can be diversified away by holding Shenzhen Centralcon Investment and Markor International Home in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Markor International Home and Shenzhen Centralcon 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 Shenzhen Centralcon Investment are associated (or correlated) with Markor International. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Markor International Home has no effect on the direction of Shenzhen Centralcon i.e., Shenzhen Centralcon and Markor International go up and down completely randomly.
Pair Corralation between Shenzhen Centralcon and Markor International
Assuming the 90 days trading horizon Shenzhen Centralcon Investment is expected to generate 1.2 times more return on investment than Markor International. However, Shenzhen Centralcon is 1.2 times more volatile than Markor International Home. It trades about 0.0 of its potential returns per unit of risk. Markor International Home is currently generating about -0.01 per unit of risk. If you would invest 660.00 in Shenzhen Centralcon Investment on September 1, 2024 and sell it today you would lose (120.00) from holding Shenzhen Centralcon Investment or give up 18.18% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Shenzhen Centralcon Investment vs. Markor International Home
Performance |
| Timeline |
| Shenzhen Centralcon |
| Markor International Home |
Shenzhen Centralcon and Markor International Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Shenzhen Centralcon and Markor International
The main advantage of trading using opposite Shenzhen Centralcon and Markor International positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Shenzhen Centralcon position performs unexpectedly, Markor International 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 Markor International will offset losses from the drop in Markor International's long position.| Shenzhen Centralcon vs. Anhui Huilong Agricultural | Shenzhen Centralcon vs. Huitong Construction Group | Shenzhen Centralcon vs. Kuangda Technology Group | Shenzhen Centralcon vs. Allied Machinery Co |
| Markor International vs. Songz Automobile Air | Markor International vs. Guangdong Jingyi Metal | Markor International vs. ZYF Lopsking Aluminum | Markor International vs. Dongfeng Automobile Co |
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 Share Portfolio module to track or share privately all of your investments from the convenience of any device.
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