Correlation Between Wasu Media and Lotus Health
Specify exactly 2 symbols:
By analyzing existing cross correlation between Wasu Media Holding and Lotus Health Group, you can compare the effects of market volatilities on Wasu Media and Lotus Health 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 Wasu Media with a short position of Lotus Health. Check out your portfolio center. Please also check ongoing floating volatility patterns of Wasu Media and Lotus Health.
Diversification Opportunities for Wasu Media and Lotus Health
0.53 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Wasu and Lotus is 0.53. Overlapping area represents the amount of risk that can be diversified away by holding Wasu Media Holding and Lotus Health Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Lotus Health Group and Wasu Media 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 Wasu Media Holding are associated (or correlated) with Lotus Health. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Lotus Health Group has no effect on the direction of Wasu Media i.e., Wasu Media and Lotus Health go up and down completely randomly.
Pair Corralation between Wasu Media and Lotus Health
Assuming the 90 days trading horizon Wasu Media Holding is expected to generate 0.75 times more return on investment than Lotus Health. However, Wasu Media Holding is 1.33 times less risky than Lotus Health. It trades about 0.03 of its potential returns per unit of risk. Lotus Health Group is currently generating about 0.01 per unit of risk. If you would invest 625.00 in Wasu Media Holding on October 18, 2024 and sell it today you would earn a total of 61.00 from holding Wasu Media Holding or generate 9.76% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Wasu Media Holding vs. Lotus Health Group
Performance |
| Timeline |
| Wasu Media Holding |
| Lotus Health Group |
Wasu Media and Lotus Health Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Wasu Media and Lotus Health
The main advantage of trading using opposite Wasu Media and Lotus Health positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Wasu Media position performs unexpectedly, Lotus Health 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 Lotus Health will offset losses from the drop in Lotus Health's long position.| Wasu Media vs. Shenzhen Bioeasy Biotechnology | Wasu Media vs. Yili Chuanning Biotechnology | Wasu Media vs. Semiconductor Manufacturing Electronics | Wasu Media vs. Shenzhen Clou Electronics |
| Lotus Health vs. Wasu Media Holding | Lotus Health vs. Southern PublishingMedia Co | Lotus Health vs. Hangzhou Arcvideo Technology | Lotus Health vs. China Publishing Media |
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 Insider Screener module to find insiders across different sectors to evaluate their impact on performance.
Other Complementary Tools
| Fundamentals Comparison Compare fundamentals across multiple equities to find investing opportunities | |
| Price Ceiling Movement Calculate and plot Price Ceiling Movement for different equity instruments | |
| Bollinger Bands Use Bollinger Bands indicator to analyze target price for a given investing horizon | |
| Volatility Analysis Get historical volatility and risk analysis based on latest market data | |
| Portfolio Dashboard Portfolio dashboard that provides centralized access to all your investments |