Correlation Between Easyhome New and AUPU Home
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By analyzing existing cross correlation between Easyhome New Retail and AUPU Home Style, you can compare the effects of market volatilities on Easyhome New and AUPU 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 AUPU Home. Check out your portfolio center. Please also check ongoing floating volatility patterns of Easyhome New and AUPU Home.
Diversification Opportunities for Easyhome New and AUPU Home
0.89 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Easyhome and AUPU is 0.89. Overlapping area represents the amount of risk that can be diversified away by holding Easyhome New Retail and AUPU Home Style in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on AUPU Home Style 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 AUPU Home. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of AUPU Home Style has no effect on the direction of Easyhome New i.e., Easyhome New and AUPU Home go up and down completely randomly.
Pair Corralation between Easyhome New and AUPU Home
Assuming the 90 days trading horizon Easyhome New is expected to generate 1.35 times less return on investment than AUPU Home. But when comparing it to its historical volatility, Easyhome New Retail is 1.01 times less risky than AUPU Home. It trades about 0.03 of its potential returns per unit of risk. AUPU Home Style is currently generating about 0.04 of returns per unit of risk over similar time horizon. If you would invest 909.00 in AUPU Home Style on September 13, 2024 and sell it today you would earn a total of 281.00 from holding AUPU Home Style or generate 30.91% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Easyhome New Retail vs. AUPU Home Style
Performance |
| Timeline |
| Easyhome New Retail |
| AUPU Home Style |
Easyhome New and AUPU Home Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Easyhome New and AUPU Home
The main advantage of trading using opposite Easyhome New and AUPU Home positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Easyhome New position performs unexpectedly, AUPU 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 AUPU Home will offset losses from the drop in AUPU Home's long position.| Easyhome New vs. Ming Yang Smart | Easyhome New vs. 159681 | Easyhome New vs. 159005 | Easyhome New vs. Loctek Ergonomic Technology |
| AUPU Home vs. Lutian Machinery Co | AUPU Home vs. China Longyuan Power | AUPU Home vs. PetroChina Co Ltd | AUPU Home vs. Bank of China |
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 Share Portfolio module to track or share privately all of your investments from the convenience of any device.
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