Correlation Between Easyhome New and Eastroc Beverage
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By analyzing existing cross correlation between Easyhome New Retail and Eastroc Beverage Group, you can compare the effects of market volatilities on Easyhome New and Eastroc Beverage 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 Eastroc Beverage. Check out your portfolio center. Please also check ongoing floating volatility patterns of Easyhome New and Eastroc Beverage.
Diversification Opportunities for Easyhome New and Eastroc Beverage
0.84 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Easyhome and Eastroc is 0.84. Overlapping area represents the amount of risk that can be diversified away by holding Easyhome New Retail and Eastroc Beverage Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Eastroc Beverage 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 Eastroc Beverage. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Eastroc Beverage has no effect on the direction of Easyhome New i.e., Easyhome New and Eastroc Beverage go up and down completely randomly.
Pair Corralation between Easyhome New and Eastroc Beverage
Assuming the 90 days trading horizon Easyhome New is expected to generate 14.56 times less return on investment than Eastroc Beverage. In addition to that, Easyhome New is 1.34 times more volatile than Eastroc Beverage Group. It trades about 0.0 of its total potential returns per unit of risk. Eastroc Beverage Group is currently generating about 0.08 per unit of volatility. If you would invest 13,220 in Eastroc Beverage Group on October 16, 2024 and sell it today you would earn a total of 13,481 from holding Eastroc Beverage Group or generate 101.97% 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. Eastroc Beverage Group
Performance |
| Timeline |
| Easyhome New Retail |
| Eastroc Beverage |
Easyhome New and Eastroc Beverage Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Easyhome New and Eastroc Beverage
The main advantage of trading using opposite Easyhome New and Eastroc Beverage positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Easyhome New position performs unexpectedly, Eastroc Beverage 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 Eastroc Beverage will offset losses from the drop in Eastroc Beverage's long position.| Easyhome New vs. Olympic Circuit Technology | Easyhome New vs. Digiwin Software Co | Easyhome New vs. Bangyan Technology Co | Easyhome New vs. Nanjing Vishee Medical |
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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 Exposure Probability module to analyze equity upside and downside potential for a given time horizon across multiple markets.
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