Correlation Between Easyhome New and Integrated Electronic
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By analyzing existing cross correlation between Easyhome New Retail and Integrated Electronic Systems, you can compare the effects of market volatilities on Easyhome New and Integrated Electronic 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 Integrated Electronic. Check out your portfolio center. Please also check ongoing floating volatility patterns of Easyhome New and Integrated Electronic.
Diversification Opportunities for Easyhome New and Integrated Electronic
0.88 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Easyhome and Integrated is 0.88. Overlapping area represents the amount of risk that can be diversified away by holding Easyhome New Retail and Integrated Electronic Systems in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Integrated Electronic 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 Integrated Electronic. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Integrated Electronic has no effect on the direction of Easyhome New i.e., Easyhome New and Integrated Electronic go up and down completely randomly.
Pair Corralation between Easyhome New and Integrated Electronic
Assuming the 90 days trading horizon Easyhome New Retail is expected to generate 1.25 times more return on investment than Integrated Electronic. However, Easyhome New is 1.25 times more volatile than Integrated Electronic Systems. It trades about 0.32 of its potential returns per unit of risk. Integrated Electronic Systems is currently generating about 0.1 per unit of risk. If you would invest 298.00 in Easyhome New Retail on September 13, 2024 and sell it today you would earn a total of 94.00 from holding Easyhome New Retail or generate 31.54% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Easyhome New Retail vs. Integrated Electronic Systems
Performance |
| Timeline |
| Easyhome New Retail |
| Integrated Electronic |
Easyhome New and Integrated Electronic Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Easyhome New and Integrated Electronic
The main advantage of trading using opposite Easyhome New and Integrated Electronic positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Easyhome New position performs unexpectedly, Integrated Electronic 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 Integrated Electronic will offset losses from the drop in Integrated Electronic's long position.| Easyhome New vs. Ming Yang Smart | Easyhome New vs. 159681 | Easyhome New vs. 159005 | Easyhome New vs. Loctek Ergonomic Technology |
| Integrated Electronic vs. Industrial and Commercial | Integrated Electronic vs. Agricultural Bank of | Integrated Electronic vs. China Construction Bank | Integrated Electronic vs. Bank of China |
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 Funds Screener module to find actively-traded funds from around the world traded on over 30 global exchanges.
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