Correlation Between Easyhome New and Epoxy Base
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By analyzing existing cross correlation between Easyhome New Retail and Epoxy Base Electronic, you can compare the effects of market volatilities on Easyhome New and Epoxy Base 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 Epoxy Base. Check out your portfolio center. Please also check ongoing floating volatility patterns of Easyhome New and Epoxy Base.
Diversification Opportunities for Easyhome New and Epoxy Base
0.38 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Easyhome and Epoxy is 0.38. Overlapping area represents the amount of risk that can be diversified away by holding Easyhome New Retail and Epoxy Base Electronic in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Epoxy Base 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 Epoxy Base. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Epoxy Base Electronic has no effect on the direction of Easyhome New i.e., Easyhome New and Epoxy Base go up and down completely randomly.
Pair Corralation between Easyhome New and Epoxy Base
Assuming the 90 days trading horizon Easyhome New Retail is expected to under-perform the Epoxy Base. In addition to that, Easyhome New is 1.46 times more volatile than Epoxy Base Electronic. It trades about -0.36 of its total potential returns per unit of risk. Epoxy Base Electronic is currently generating about -0.09 per unit of volatility. If you would invest 628.00 in Epoxy Base Electronic on October 16, 2024 and sell it today you would lose (50.00) from holding Epoxy Base Electronic or give up 7.96% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 95.24% |
| Values | Daily Returns |
Easyhome New Retail vs. Epoxy Base Electronic
Performance |
| Timeline |
| Easyhome New Retail |
| Epoxy Base Electronic |
Easyhome New and Epoxy Base Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Easyhome New and Epoxy Base
The main advantage of trading using opposite Easyhome New and Epoxy Base positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Easyhome New position performs unexpectedly, Epoxy Base 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 Epoxy Base will offset losses from the drop in Epoxy Base'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 |
| Epoxy Base vs. Inspur Software Co | Epoxy Base vs. Hangzhou Pinming Software | Epoxy Base vs. Digiwin Software Co | Epoxy Base vs. Kuangda Technology Group |
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 Crypto Correlations module to use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins.
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