Correlation Between Lander Sports and Ningbo Ligong
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By analyzing existing cross correlation between Lander Sports Development and Ningbo Ligong Online, you can compare the effects of market volatilities on Lander Sports and Ningbo Ligong 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 Lander Sports with a short position of Ningbo Ligong. Check out your portfolio center. Please also check ongoing floating volatility patterns of Lander Sports and Ningbo Ligong.
Diversification Opportunities for Lander Sports and Ningbo Ligong
-0.15 | Correlation Coefficient |
Good diversification
The 3 months correlation between Lander and Ningbo is -0.15. Overlapping area represents the amount of risk that can be diversified away by holding Lander Sports Development and Ningbo Ligong Online in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Ningbo Ligong Online and Lander Sports 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 Lander Sports Development are associated (or correlated) with Ningbo Ligong. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Ningbo Ligong Online has no effect on the direction of Lander Sports i.e., Lander Sports and Ningbo Ligong go up and down completely randomly.
Pair Corralation between Lander Sports and Ningbo Ligong
Assuming the 90 days trading horizon Lander Sports Development is expected to generate 1.24 times more return on investment than Ningbo Ligong. However, Lander Sports is 1.24 times more volatile than Ningbo Ligong Online. It trades about 0.03 of its potential returns per unit of risk. Ningbo Ligong Online is currently generating about 0.03 per unit of risk. If you would invest 285.00 in Lander Sports Development on October 29, 2024 and sell it today you would earn a total of 40.00 from holding Lander Sports Development or generate 14.04% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Lander Sports Development vs. Ningbo Ligong Online
Performance |
| Timeline |
| Lander Sports Development |
| Ningbo Ligong Online |
Lander Sports and Ningbo Ligong Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Lander Sports and Ningbo Ligong
The main advantage of trading using opposite Lander Sports and Ningbo Ligong positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Lander Sports position performs unexpectedly, Ningbo Ligong 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 Ningbo Ligong will offset losses from the drop in Ningbo Ligong's long position.| Lander Sports vs. Agricultural Bank of | Lander Sports vs. Industrial and Commercial | Lander Sports vs. Bank of China | Lander Sports vs. China Construction Bank |
| Ningbo Ligong vs. Ningbo Kangqiang Electronics | Ningbo Ligong vs. Namchow Food Group | Ningbo Ligong vs. Guilin Seamild Foods | Ningbo Ligong vs. Xinjiang Tianrun Dairy |
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 Equity Valuation module to check real value of public entities based on technical and fundamental data.
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