Correlation Between De Rucci and Chengdu Spaceon
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By analyzing existing cross correlation between De Rucci Healthy and Chengdu Spaceon Electronics, you can compare the effects of market volatilities on De Rucci and Chengdu Spaceon 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 Chengdu Spaceon. Check out your portfolio center. Please also check ongoing floating volatility patterns of De Rucci and Chengdu Spaceon.
Diversification Opportunities for De Rucci and Chengdu Spaceon
0.18 | Correlation Coefficient |
Average diversification
The 3 months correlation between 001323 and Chengdu is 0.18. Overlapping area represents the amount of risk that can be diversified away by holding De Rucci Healthy and Chengdu Spaceon Electronics in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Chengdu Spaceon Elec 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 Chengdu Spaceon. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Chengdu Spaceon Elec has no effect on the direction of De Rucci i.e., De Rucci and Chengdu Spaceon go up and down completely randomly.
Pair Corralation between De Rucci and Chengdu Spaceon
Assuming the 90 days trading horizon De Rucci Healthy is expected to under-perform the Chengdu Spaceon. But the stock apears to be less risky and, when comparing its historical volatility, De Rucci Healthy is 1.24 times less risky than Chengdu Spaceon. The stock trades about -0.04 of its potential returns per unit of risk. The Chengdu Spaceon Electronics is currently generating about 0.18 of returns per unit of risk over similar time horizon. If you would invest 1,520 in Chengdu Spaceon Electronics on November 29, 2024 and sell it today you would earn a total of 75.00 from holding Chengdu Spaceon Electronics or generate 4.93% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
De Rucci Healthy vs. Chengdu Spaceon Electronics
Performance |
| Timeline |
| De Rucci Healthy |
| Chengdu Spaceon Elec |
De Rucci and Chengdu Spaceon Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with De Rucci and Chengdu Spaceon
The main advantage of trading using opposite De Rucci and Chengdu Spaceon positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if De Rucci position performs unexpectedly, Chengdu Spaceon 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 Chengdu Spaceon will offset losses from the drop in Chengdu Spaceon's long position.| De Rucci vs. Jinxiandai Information Industry | De Rucci vs. Invengo Information Technology | De Rucci vs. Vanfund Urban Investment | De Rucci vs. Xiamen Insight Investment |
| Chengdu Spaceon vs. Jiangsu Broadcasting Cable | Chengdu Spaceon vs. Shaanxi Broadcast TV | Chengdu Spaceon vs. Longjian Road Bridge | Chengdu Spaceon vs. Dazhong Transportation Group |
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 Stock Tickers module to use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites.
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