Correlation Between Emdoor Information and East Money
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By analyzing existing cross correlation between Emdoor Information Co and East Money Information, you can compare the effects of market volatilities on Emdoor Information and East Money 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 Emdoor Information with a short position of East Money. Check out your portfolio center. Please also check ongoing floating volatility patterns of Emdoor Information and East Money.
Diversification Opportunities for Emdoor Information and East Money
0.22 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Emdoor and East is 0.22. Overlapping area represents the amount of risk that can be diversified away by holding Emdoor Information Co and East Money Information in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on East Money Information and Emdoor Information 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 Emdoor Information Co are associated (or correlated) with East Money. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of East Money Information has no effect on the direction of Emdoor Information i.e., Emdoor Information and East Money go up and down completely randomly.
Pair Corralation between Emdoor Information and East Money
Assuming the 90 days trading horizon Emdoor Information Co is expected to generate 1.65 times more return on investment than East Money. However, Emdoor Information is 1.65 times more volatile than East Money Information. It trades about -0.04 of its potential returns per unit of risk. East Money Information is currently generating about -0.18 per unit of risk. If you would invest 5,185 in Emdoor Information Co on November 1, 2024 and sell it today you would lose (320.00) from holding Emdoor Information Co or give up 6.17% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Emdoor Information Co vs. East Money Information
Performance |
| Timeline |
| Emdoor Information |
| East Money Information |
Emdoor Information and East Money Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Emdoor Information and East Money
The main advantage of trading using opposite Emdoor Information and East Money positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Emdoor Information position performs unexpectedly, East Money 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 East Money will offset losses from the drop in East Money's long position.| Emdoor Information vs. China Satellite Communications | Emdoor Information vs. Bosera CMSK Industrial | Emdoor Information vs. Universal Scientific Industrial | Emdoor Information vs. Jilin Jlu Communication |
| East Money vs. Shengda Mining Co | East Money vs. Beijing Yanjing Brewery | East Money vs. Tibet Huayu Mining | East Money vs. Tsingtao Brewery 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 Fundamentals Comparison module to compare fundamentals across multiple equities to find investing opportunities.
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