Correlation Between Easyhome New and Poly Real
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By analyzing existing cross correlation between Easyhome New Retail and Poly Real Estate, you can compare the effects of market volatilities on Easyhome New and Poly Real 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 Poly Real. Check out your portfolio center. Please also check ongoing floating volatility patterns of Easyhome New and Poly Real.
Diversification Opportunities for Easyhome New and Poly Real
-0.26 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Easyhome and Poly is -0.26. Overlapping area represents the amount of risk that can be diversified away by holding Easyhome New Retail and Poly Real Estate in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Poly Real Estate 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 Poly Real. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Poly Real Estate has no effect on the direction of Easyhome New i.e., Easyhome New and Poly Real go up and down completely randomly.
Pair Corralation between Easyhome New and Poly Real
Assuming the 90 days trading horizon Easyhome New Retail is expected to under-perform the Poly Real. In addition to that, Easyhome New is 2.46 times more volatile than Poly Real Estate. It trades about -0.21 of its total potential returns per unit of risk. Poly Real Estate is currently generating about -0.13 per unit of volatility. If you would invest 854.00 in Poly Real Estate on November 7, 2024 and sell it today you would lose (31.00) from holding Poly Real Estate or give up 3.63% 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. Poly Real Estate
Performance |
| Timeline |
| Easyhome New Retail |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Insignificant
| Poly Real Estate |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Easyhome New and Poly Real Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Easyhome New and Poly Real
The main advantage of trading using opposite Easyhome New and Poly Real positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Easyhome New position performs unexpectedly, Poly Real 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 Poly Real will offset losses from the drop in Poly Real's long position.The idea behind Easyhome New Retail and Poly Real Estate pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.| Poly Real vs. Greattown Holdings Ltd | Poly Real vs. Beijing Hualian Department | Poly Real vs. Shanghai Chinafortune Co |
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 Price Ceiling Movement module to calculate and plot Price Ceiling Movement for different equity instruments.
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