Correlation Between Easyhome New and DO Home
Specify exactly 2 symbols:
By analyzing existing cross correlation between Easyhome New Retail and DO Home Collection, you can compare the effects of market volatilities on Easyhome New and DO Home 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 DO Home. Check out your portfolio center. Please also check ongoing floating volatility patterns of Easyhome New and DO Home.
Diversification Opportunities for Easyhome New and DO Home
0.13 | Correlation Coefficient |
Average diversification
The 3 months correlation between Easyhome and 002798 is 0.13. Overlapping area represents the amount of risk that can be diversified away by holding Easyhome New Retail and DO Home Collection in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on DO Home Collection 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 DO Home. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of DO Home Collection has no effect on the direction of Easyhome New i.e., Easyhome New and DO Home go up and down completely randomly.
Pair Corralation between Easyhome New and DO Home
Assuming the 90 days trading horizon Easyhome New Retail is expected to generate 0.86 times more return on investment than DO Home. However, Easyhome New Retail is 1.17 times less risky than DO Home. It trades about 0.05 of its potential returns per unit of risk. DO Home Collection is currently generating about -0.03 per unit of risk. If you would invest 273.00 in Easyhome New Retail on October 18, 2024 and sell it today you would earn a total of 81.00 from holding Easyhome New Retail or generate 29.67% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 99.58% |
| Values | Daily Returns |
Easyhome New Retail vs. DO Home Collection
Performance |
| Timeline |
| Easyhome New Retail |
| DO Home Collection |
Easyhome New and DO Home Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Easyhome New and DO Home
The main advantage of trading using opposite Easyhome New and DO Home positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Easyhome New position performs unexpectedly, DO Home 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 DO Home will offset losses from the drop in DO Home's long position.| Easyhome New vs. Jilin Jlu Communication | Easyhome New vs. Queclink Wireless Solutions | Easyhome New vs. Fiberhome Telecommunication Technologies | Easyhome New vs. Dongfeng Automobile Co |
| DO Home vs. Anhui Shiny Electronic | DO Home vs. Sharetronic Data Technology | DO Home vs. Aurora Optoelectronics Co | DO Home vs. Nantong Haixing Electronics |
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 Odds Of Bankruptcy module to get analysis of equity chance of financial distress in the next 2 years.
Other Complementary Tools
| Portfolio Dashboard Portfolio dashboard that provides centralized access to all your investments | |
| Fundamental Analysis View fundamental data based on most recent published financial statements | |
| Portfolio Analyzer Portfolio analysis module that provides access to portfolio diagnostics and optimization engine | |
| Efficient Frontier Plot and analyze your portfolio and positions against risk-return landscape of the market. | |
| Money Managers Screen money managers from public funds and ETFs managed around the world |