Correlation Between De Rucci and Ciwen Media
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By analyzing existing cross correlation between De Rucci Healthy and Ciwen Media Co, you can compare the effects of market volatilities on De Rucci and Ciwen Media 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 De Rucci with a short position of Ciwen Media. Check out your portfolio center. Please also check ongoing floating volatility patterns of De Rucci and Ciwen Media.
Diversification Opportunities for De Rucci and Ciwen Media
0.92 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between 001323 and Ciwen is 0.92. Overlapping area represents the amount of risk that can be diversified away by holding De Rucci Healthy and Ciwen Media Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Ciwen Media and De Rucci 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 De Rucci Healthy are associated (or correlated) with Ciwen Media. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Ciwen Media has no effect on the direction of De Rucci i.e., De Rucci and Ciwen Media go up and down completely randomly.
Pair Corralation between De Rucci and Ciwen Media
Assuming the 90 days trading horizon De Rucci is expected to generate 2.07 times less return on investment than Ciwen Media. But when comparing it to its historical volatility, De Rucci Healthy is 1.85 times less risky than Ciwen Media. It trades about 0.03 of its potential returns per unit of risk. Ciwen Media Co is currently generating about 0.03 of returns per unit of risk over similar time horizon. If you would invest 596.00 in Ciwen Media Co on September 4, 2024 and sell it today you would earn a total of 166.00 from holding Ciwen Media Co or generate 27.85% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
De Rucci Healthy vs. Ciwen Media Co
Performance |
| Timeline |
| De Rucci Healthy |
| Ciwen Media |
De Rucci and Ciwen Media Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with De Rucci and Ciwen Media
The main advantage of trading using opposite De Rucci and Ciwen Media positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if De Rucci position performs unexpectedly, Ciwen Media 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 Ciwen Media will offset losses from the drop in Ciwen Media's long position.| De Rucci vs. Duzhe Publishing Media | De Rucci vs. Shandong Publishing Media | De Rucci vs. Guangdong Jinming Machinery | De Rucci vs. Southern PublishingMedia Co |
| Ciwen Media vs. Hoshine Silicon Ind | Ciwen Media vs. Iat Automobile Technology | Ciwen Media vs. China Construction Bank | Ciwen Media vs. Guangzhou KingTeller Technology |
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 Equity Valuation module to check real value of public entities based on technical and fundamental data.
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