Correlation Between 5I5j Holding and Tianjin LVYIN
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By analyzing existing cross correlation between 5I5j Holding Group and Tianjin LVYIN Landscape, you can compare the effects of market volatilities on 5I5j Holding and Tianjin LVYIN 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 5I5j Holding with a short position of Tianjin LVYIN. Check out your portfolio center. Please also check ongoing floating volatility patterns of 5I5j Holding and Tianjin LVYIN.
Diversification Opportunities for 5I5j Holding and Tianjin LVYIN
0.61 | Correlation Coefficient |
Poor diversification
The 3 months correlation between 5I5j and Tianjin is 0.61. Overlapping area represents the amount of risk that can be diversified away by holding 5I5j Holding Group and Tianjin LVYIN Landscape in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Tianjin LVYIN Landscape and 5I5j Holding 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 5I5j Holding Group are associated (or correlated) with Tianjin LVYIN. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Tianjin LVYIN Landscape has no effect on the direction of 5I5j Holding i.e., 5I5j Holding and Tianjin LVYIN go up and down completely randomly.
Pair Corralation between 5I5j Holding and Tianjin LVYIN
Assuming the 90 days trading horizon 5I5j Holding Group is expected to generate 0.95 times more return on investment than Tianjin LVYIN. However, 5I5j Holding Group is 1.05 times less risky than Tianjin LVYIN. It trades about -0.02 of its potential returns per unit of risk. Tianjin LVYIN Landscape is currently generating about -0.03 per unit of risk. If you would invest 333.00 in 5I5j Holding Group on September 25, 2024 and sell it today you would lose (8.00) from holding 5I5j Holding Group or give up 2.4% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 95.45% |
| Values | Daily Returns |
5I5j Holding Group vs. Tianjin LVYIN Landscape
Performance |
| Timeline |
| 5I5j Holding Group |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Modest
| Tianjin LVYIN Landscape |
5I5j Holding and Tianjin LVYIN Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with 5I5j Holding and Tianjin LVYIN
The main advantage of trading using opposite 5I5j Holding and Tianjin LVYIN positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if 5I5j Holding position performs unexpectedly, Tianjin LVYIN 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 Tianjin LVYIN will offset losses from the drop in Tianjin LVYIN's long position.| 5I5j Holding vs. Aofu Environmental Technology | 5I5j Holding vs. Penyao Environmental Protection | 5I5j Holding vs. Eit Environmental Development | 5I5j Holding vs. BTG Hotels Group |
| Tianjin LVYIN vs. Ming Yang Smart | Tianjin LVYIN vs. 159681 | Tianjin LVYIN vs. 159005 | Tianjin LVYIN vs. Loctek Ergonomic Technology |
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 Fundamentals Comparison module to compare fundamentals across multiple equities to find investing opportunities.
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