Correlation Between Lander Sports and Suzhou Douson
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By analyzing existing cross correlation between Lander Sports Development and Suzhou Douson Drilling, you can compare the effects of market volatilities on Lander Sports and Suzhou Douson 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 Suzhou Douson. Check out your portfolio center. Please also check ongoing floating volatility patterns of Lander Sports and Suzhou Douson.
Diversification Opportunities for Lander Sports and Suzhou Douson
0.92 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Lander and Suzhou is 0.92. Overlapping area represents the amount of risk that can be diversified away by holding Lander Sports Development and Suzhou Douson Drilling in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Suzhou Douson Drilling 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 Suzhou Douson. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Suzhou Douson Drilling has no effect on the direction of Lander Sports i.e., Lander Sports and Suzhou Douson go up and down completely randomly.
Pair Corralation between Lander Sports and Suzhou Douson
Assuming the 90 days trading horizon Lander Sports Development is expected to generate 0.98 times more return on investment than Suzhou Douson. However, Lander Sports Development is 1.02 times less risky than Suzhou Douson. It trades about 0.23 of its potential returns per unit of risk. Suzhou Douson Drilling is currently generating about 0.16 per unit of risk. If you would invest 306.00 in Lander Sports Development on September 13, 2024 and sell it today you would earn a total of 52.00 from holding Lander Sports Development or generate 16.99% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Lander Sports Development vs. Suzhou Douson Drilling
Performance |
| Timeline |
| Lander Sports Development |
| Suzhou Douson Drilling |
Lander Sports and Suzhou Douson Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Lander Sports and Suzhou Douson
The main advantage of trading using opposite Lander Sports and Suzhou Douson positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Lander Sports position performs unexpectedly, Suzhou Douson 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 Suzhou Douson will offset losses from the drop in Suzhou Douson's long position.| Lander Sports vs. China Life Insurance | Lander Sports vs. Cinda Securities Co | Lander Sports vs. Piotech Inc A | Lander Sports vs. Dongxing Sec Co |
| Suzhou Douson vs. Guangdong Jingyi Metal | Suzhou Douson vs. Datang HuaYin Electric | Suzhou Douson vs. AVCON Information Tech | Suzhou Douson vs. Yunnan Xiyi Industrial |
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 File Import module to quickly import all of your third-party portfolios from your local drive in csv format.
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