Correlation Between Lander Sports and Eastern Air
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By analyzing existing cross correlation between Lander Sports Development and Eastern Air Logistics, you can compare the effects of market volatilities on Lander Sports and Eastern Air 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 Eastern Air. Check out your portfolio center. Please also check ongoing floating volatility patterns of Lander Sports and Eastern Air.
Diversification Opportunities for Lander Sports and Eastern Air
0.86 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Lander and Eastern is 0.86. Overlapping area represents the amount of risk that can be diversified away by holding Lander Sports Development and Eastern Air Logistics in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Eastern Air Logistics 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 Eastern Air. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Eastern Air Logistics has no effect on the direction of Lander Sports i.e., Lander Sports and Eastern Air go up and down completely randomly.
Pair Corralation between Lander Sports and Eastern Air
Assuming the 90 days trading horizon Lander Sports Development is expected to under-perform the Eastern Air. In addition to that, Lander Sports is 1.8 times more volatile than Eastern Air Logistics. It trades about -0.13 of its total potential returns per unit of risk. Eastern Air Logistics is currently generating about -0.2 per unit of volatility. If you would invest 1,720 in Eastern Air Logistics on August 27, 2024 and sell it today you would lose (136.00) from holding Eastern Air Logistics or give up 7.91% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Lander Sports Development vs. Eastern Air Logistics
Performance |
| Timeline |
| Lander Sports Development |
| Eastern Air Logistics |
Lander Sports and Eastern Air Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Lander Sports and Eastern Air
The main advantage of trading using opposite Lander Sports and Eastern Air positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Lander Sports position performs unexpectedly, Eastern Air 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 Eastern Air will offset losses from the drop in Eastern Air's long position.| Lander Sports vs. Industrial and Commercial | Lander Sports vs. China Construction Bank | Lander Sports vs. Bank of China | Lander Sports vs. Agricultural Bank of |
| Eastern Air vs. China Life Insurance | Eastern Air vs. Piotech Inc A | Eastern Air vs. Dongxing Sec Co | Eastern Air vs. Shanghai OPM Biosciences |
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 Portfolio Manager module to state of the art Portfolio Manager to monitor and improve performance of your invested capital.
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