Correlation Between Easyhome New and China Securities
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By analyzing existing cross correlation between Easyhome New Retail and China Securities 800, you can compare the effects of market volatilities on Easyhome New and China Securities 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 Easyhome New with a short position of China Securities. Check out your portfolio center. Please also check ongoing floating volatility patterns of Easyhome New and China Securities.
Diversification Opportunities for Easyhome New and China Securities
-0.13 | Correlation Coefficient |
Good diversification
The 3 months correlation between Easyhome and China is -0.13. Overlapping area represents the amount of risk that can be diversified away by holding Easyhome New Retail and China Securities 800 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on China Securities 800 and Easyhome New 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 Easyhome New Retail are associated (or correlated) with China Securities. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of China Securities 800 has no effect on the direction of Easyhome New i.e., Easyhome New and China Securities go up and down completely randomly.
Pair Corralation between Easyhome New and China Securities
Assuming the 90 days trading horizon Easyhome New Retail is expected to under-perform the China Securities. In addition to that, Easyhome New is 5.53 times more volatile than China Securities 800. It trades about -0.31 of its total potential returns per unit of risk. China Securities 800 is currently generating about -0.3 per unit of volatility. If you would invest 424,293 in China Securities 800 on October 15, 2024 and sell it today you would lose (24,559) from holding China Securities 800 or give up 5.79% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Easyhome New Retail vs. China Securities 800
Performance |
| Timeline |
Easyhome New and China Securities Volatility Contrast
Predicted Return Density |
| Returns |
Easyhome New Retail
Pair trading matchups for Easyhome New
China Securities 800
Pair trading matchups for China Securities
Pair Trading with Easyhome New and China Securities
The main advantage of trading using opposite Easyhome New and China Securities positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Easyhome New position performs unexpectedly, China Securities 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 China Securities will offset losses from the drop in China Securities' long position.| Easyhome New vs. Anhui Tongguan Copper | Easyhome New vs. Guocheng Mining Co | Easyhome New vs. Dalian Thermal Power | Easyhome New vs. Fujian Longzhou Transportation |
| China Securities vs. Sunwave Communications Co | China Securities vs. Dongfeng Automobile Co | China Securities vs. Nanjing Vishee Medical | China Securities vs. Haima Automobile Group |
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 ETFs module to find actively traded Exchange Traded Funds (ETF) from around the world.
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