Correlation Between Beijing Mainstreets and Lecron Energy
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By analyzing existing cross correlation between Beijing Mainstreets Investment and Lecron Energy Saving, you can compare the effects of market volatilities on Beijing Mainstreets and Lecron Energy 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 Beijing Mainstreets with a short position of Lecron Energy. Check out your portfolio center. Please also check ongoing floating volatility patterns of Beijing Mainstreets and Lecron Energy.
Diversification Opportunities for Beijing Mainstreets and Lecron Energy
0.5 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Beijing and Lecron is 0.5. Overlapping area represents the amount of risk that can be diversified away by holding Beijing Mainstreets Investment and Lecron Energy Saving in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Lecron Energy Saving and Beijing Mainstreets 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 Beijing Mainstreets Investment are associated (or correlated) with Lecron Energy. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Lecron Energy Saving has no effect on the direction of Beijing Mainstreets i.e., Beijing Mainstreets and Lecron Energy go up and down completely randomly.
Pair Corralation between Beijing Mainstreets and Lecron Energy
Assuming the 90 days trading horizon Beijing Mainstreets Investment is expected to generate 1.46 times more return on investment than Lecron Energy. However, Beijing Mainstreets is 1.46 times more volatile than Lecron Energy Saving. It trades about 0.0 of its potential returns per unit of risk. Lecron Energy Saving is currently generating about -0.45 per unit of risk. If you would invest 247.00 in Beijing Mainstreets Investment on October 11, 2024 and sell it today you would lose (3.00) from holding Beijing Mainstreets Investment or give up 1.21% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Beijing Mainstreets Investment vs. Lecron Energy Saving
Performance |
| Timeline |
| Beijing Mainstreets |
| Lecron Energy Saving |
Beijing Mainstreets and Lecron Energy Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Beijing Mainstreets and Lecron Energy
The main advantage of trading using opposite Beijing Mainstreets and Lecron Energy positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Beijing Mainstreets position performs unexpectedly, Lecron Energy 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 Lecron Energy will offset losses from the drop in Lecron Energy's long position.| Beijing Mainstreets vs. Huasi Agricultural Development | Beijing Mainstreets vs. Tianshui Huatian Technology | Beijing Mainstreets vs. Qijing Machinery | Beijing Mainstreets vs. Guangzhou KDT Machinery |
| Lecron Energy vs. Hunan Investment Group | Lecron Energy vs. Zhongrun Resources Investment | Lecron Energy vs. Beijing Mainstreets Investment | Lecron Energy vs. Allwin Telecommunication Co |
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 Companies Directory module to evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals.
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