Correlation Between Easyhome New and Guangdong Xiongsu
Specify exactly 2 symbols:
By analyzing existing cross correlation between Easyhome New Retail and Guangdong Xiongsu Technology, you can compare the effects of market volatilities on Easyhome New and Guangdong Xiongsu 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 Guangdong Xiongsu. Check out your portfolio center. Please also check ongoing floating volatility patterns of Easyhome New and Guangdong Xiongsu.
Diversification Opportunities for Easyhome New and Guangdong Xiongsu
-0.4 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Easyhome and Guangdong is -0.4. Overlapping area represents the amount of risk that can be diversified away by holding Easyhome New Retail and Guangdong Xiongsu Technology in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Guangdong Xiongsu 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 Guangdong Xiongsu. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Guangdong Xiongsu has no effect on the direction of Easyhome New i.e., Easyhome New and Guangdong Xiongsu go up and down completely randomly.
Pair Corralation between Easyhome New and Guangdong Xiongsu
Assuming the 90 days trading horizon Easyhome New Retail is expected to generate 1.61 times more return on investment than Guangdong Xiongsu. However, Easyhome New is 1.61 times more volatile than Guangdong Xiongsu Technology. It trades about -0.07 of its potential returns per unit of risk. Guangdong Xiongsu Technology is currently generating about -0.26 per unit of risk. If you would invest 373.00 in Easyhome New Retail on October 30, 2024 and sell it today you would lose (30.00) from holding Easyhome New Retail or give up 8.04% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Easyhome New Retail vs. Guangdong Xiongsu Technology
Performance |
| Timeline |
| Easyhome New Retail |
| Guangdong Xiongsu |
Easyhome New and Guangdong Xiongsu Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Easyhome New and Guangdong Xiongsu
The main advantage of trading using opposite Easyhome New and Guangdong Xiongsu positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Easyhome New position performs unexpectedly, Guangdong Xiongsu 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 Guangdong Xiongsu will offset losses from the drop in Guangdong Xiongsu's long position.| Easyhome New vs. Agricultural Bank of | Easyhome New vs. Industrial and Commercial | Easyhome New vs. Bank of China | Easyhome New vs. Postal Savings Bank |
| Guangdong Xiongsu vs. Jiangxi Hengda Hi Tech | Guangdong Xiongsu vs. China Sports Industry | Guangdong Xiongsu vs. Beijing Seeyon Internet | Guangdong Xiongsu vs. Kuang Chi Technologies |
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 Content Syndication module to quickly integrate customizable finance content to your own investment portal.
Other Complementary Tools
| CEOs Directory Screen CEOs from public companies around the world | |
| Equity Forecasting Use basic forecasting models to generate price predictions and determine price momentum | |
| Theme Ratings Determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
| Global Correlations Find global opportunities by holding instruments from different markets | |
| Portfolio Optimization Compute new portfolio that will generate highest expected return given your specified tolerance for risk |