Correlation Between Easyhome New and Blue Sail
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By analyzing existing cross correlation between Easyhome New Retail and Blue Sail Medical, you can compare the effects of market volatilities on Easyhome New and Blue Sail 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 Blue Sail. Check out your portfolio center. Please also check ongoing floating volatility patterns of Easyhome New and Blue Sail.
Diversification Opportunities for Easyhome New and Blue Sail
0.1 | Correlation Coefficient |
Average diversification
The 3 months correlation between Easyhome and Blue is 0.1. Overlapping area represents the amount of risk that can be diversified away by holding Easyhome New Retail and Blue Sail Medical in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Blue Sail Medical 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 Blue Sail. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Blue Sail Medical has no effect on the direction of Easyhome New i.e., Easyhome New and Blue Sail go up and down completely randomly.
Pair Corralation between Easyhome New and Blue Sail
Assuming the 90 days trading horizon Easyhome New Retail is expected to under-perform the Blue Sail. In addition to that, Easyhome New is 3.71 times more volatile than Blue Sail Medical. It trades about -0.36 of its total potential returns per unit of risk. Blue Sail Medical is currently generating about -0.63 per unit of volatility. If you would invest 581.00 in Blue Sail Medical on October 16, 2024 and sell it today you would lose (104.00) from holding Blue Sail Medical or give up 17.9% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 95.24% |
| Values | Daily Returns |
Easyhome New Retail vs. Blue Sail Medical
Performance |
| Timeline |
| Easyhome New Retail |
| Blue Sail Medical |
Easyhome New and Blue Sail Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Easyhome New and Blue Sail
The main advantage of trading using opposite Easyhome New and Blue Sail positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Easyhome New position performs unexpectedly, Blue Sail 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 Blue Sail will offset losses from the drop in Blue Sail's long position.| Easyhome New vs. Bank of Communications | Easyhome New vs. Zhejiang Construction Investment | Easyhome New vs. Nuode Investment Co | Easyhome New vs. Allwin Telecommunication Co |
| Blue Sail vs. ZYF Lopsking Aluminum | Blue Sail vs. Tianshan Aluminum Group | Blue Sail vs. Nanjing OLO Home | Blue Sail vs. Markor International Home |
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 Sign In To Macroaxis module to sign in to explore Macroaxis' wealth optimization platform and fintech modules.
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