Correlation Between Qinghai Salt and Integrated Electronic
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By analyzing existing cross correlation between Qinghai Salt Lake and Integrated Electronic Systems, you can compare the effects of market volatilities on Qinghai Salt and Integrated Electronic 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 Qinghai Salt with a short position of Integrated Electronic. Check out your portfolio center. Please also check ongoing floating volatility patterns of Qinghai Salt and Integrated Electronic.
Diversification Opportunities for Qinghai Salt and Integrated Electronic
-0.1 | Correlation Coefficient |
Good diversification
The 3 months correlation between Qinghai and Integrated is -0.1. Overlapping area represents the amount of risk that can be diversified away by holding Qinghai Salt Lake and Integrated Electronic Systems in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Integrated Electronic and Qinghai Salt 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 Qinghai Salt Lake are associated (or correlated) with Integrated Electronic. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Integrated Electronic has no effect on the direction of Qinghai Salt i.e., Qinghai Salt and Integrated Electronic go up and down completely randomly.
Pair Corralation between Qinghai Salt and Integrated Electronic
Assuming the 90 days trading horizon Qinghai Salt Lake is expected to generate 0.24 times more return on investment than Integrated Electronic. However, Qinghai Salt Lake is 4.2 times less risky than Integrated Electronic. It trades about -0.15 of its potential returns per unit of risk. Integrated Electronic Systems is currently generating about -0.18 per unit of risk. If you would invest 1,654 in Qinghai Salt Lake on October 15, 2024 and sell it today you would lose (64.00) from holding Qinghai Salt Lake or give up 3.87% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Qinghai Salt Lake vs. Integrated Electronic Systems
Performance |
| Timeline |
| Qinghai Salt Lake |
| Integrated Electronic |
Qinghai Salt and Integrated Electronic Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Qinghai Salt and Integrated Electronic
The main advantage of trading using opposite Qinghai Salt and Integrated Electronic positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Qinghai Salt position performs unexpectedly, Integrated Electronic 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 Integrated Electronic will offset losses from the drop in Integrated Electronic's long position.| Qinghai Salt vs. Integrated Electronic Systems | Qinghai Salt vs. YiDong Electronics Technology | Qinghai Salt vs. Tonghua Grape Wine | Qinghai Salt vs. Shenzhen Clou Electronics |
| Integrated Electronic vs. Wuhan Yangtze Communication | Integrated Electronic vs. Dr Peng Telecom | Integrated Electronic vs. Beijing Kingsoft Office | Integrated Electronic vs. Eastern Communications 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 Global Correlations module to find global opportunities by holding instruments from different markets.
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