Correlation Between Lander Sports and Lushang Property
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By analyzing existing cross correlation between Lander Sports Development and Lushang Property Co, you can compare the effects of market volatilities on Lander Sports and Lushang Property 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 Lushang Property. Check out your portfolio center. Please also check ongoing floating volatility patterns of Lander Sports and Lushang Property.
Diversification Opportunities for Lander Sports and Lushang Property
0.79 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Lander and Lushang is 0.79. Overlapping area represents the amount of risk that can be diversified away by holding Lander Sports Development and Lushang Property Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Lushang Property 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 Lushang Property. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Lushang Property has no effect on the direction of Lander Sports i.e., Lander Sports and Lushang Property go up and down completely randomly.
Pair Corralation between Lander Sports and Lushang Property
Assuming the 90 days trading horizon Lander Sports Development is expected to generate 1.31 times more return on investment than Lushang Property. However, Lander Sports is 1.31 times more volatile than Lushang Property Co. It trades about 0.17 of its potential returns per unit of risk. Lushang Property Co is currently generating about 0.11 per unit of risk. If you would invest 222.00 in Lander Sports Development on September 2, 2024 and sell it today you would earn a total of 83.00 from holding Lander Sports Development or generate 37.39% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Lander Sports Development vs. Lushang Property Co
Performance |
| Timeline |
| Lander Sports Development |
| Lushang Property |
Lander Sports and Lushang Property Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Lander Sports and Lushang Property
The main advantage of trading using opposite Lander Sports and Lushang Property positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Lander Sports position performs unexpectedly, Lushang Property 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 Lushang Property will offset losses from the drop in Lushang Property's long position.| Lander Sports vs. BeiGene | Lander Sports vs. Kweichow Moutai Co | Lander Sports vs. Beijing Roborock Technology | Lander Sports vs. G bits Network Technology |
| Lushang Property vs. Sinofibers Technology Co | Lushang Property vs. Inly Media Co | Lushang Property vs. TVZone Media Co | Lushang Property vs. Lander Sports Development |
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 Earnings Calls module to check upcoming earnings announcements updated hourly across public exchanges.
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