Correlation Between De Rucci and Lotus Health
Specify exactly 2 symbols:
By analyzing existing cross correlation between De Rucci Healthy and Lotus Health Group, you can compare the effects of market volatilities on De Rucci and Lotus Health 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 Lotus Health. Check out your portfolio center. Please also check ongoing floating volatility patterns of De Rucci and Lotus Health.
Diversification Opportunities for De Rucci and Lotus Health
0.95 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between 001323 and Lotus is 0.95. Overlapping area represents the amount of risk that can be diversified away by holding De Rucci Healthy and Lotus Health Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Lotus Health Group 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 Lotus Health. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Lotus Health Group has no effect on the direction of De Rucci i.e., De Rucci and Lotus Health go up and down completely randomly.
Pair Corralation between De Rucci and Lotus Health
Assuming the 90 days trading horizon De Rucci is expected to generate 2.66 times less return on investment than Lotus Health. But when comparing it to its historical volatility, De Rucci Healthy is 1.43 times less risky than Lotus Health. It trades about 0.03 of its potential returns per unit of risk. Lotus Health Group is currently generating about 0.06 of returns per unit of risk over similar time horizon. If you would invest 293.00 in Lotus Health Group on September 3, 2024 and sell it today you would earn a total of 237.00 from holding Lotus Health Group or generate 80.89% 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. Lotus Health Group
Performance |
| Timeline |
| De Rucci Healthy |
| Lotus Health Group |
De Rucci and Lotus Health Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with De Rucci and Lotus Health
The main advantage of trading using opposite De Rucci and Lotus Health positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if De Rucci position performs unexpectedly, Lotus Health 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 Lotus Health will offset losses from the drop in Lotus Health's long position.| De Rucci vs. PetroChina Co Ltd | De Rucci vs. China Mobile Limited | De Rucci vs. Industrial and Commercial | De Rucci vs. China Life Insurance |
| Lotus Health vs. Beijing Wantai Biological | Lotus Health vs. Aluminum Corp of | Lotus Health vs. COL Digital Publishing | Lotus Health vs. Shaanxi Meineng Clean |
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 Screener module to find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook..
Other Complementary Tools
| Portfolio Volatility Check portfolio volatility and analyze historical return density to properly model market risk | |
| Equity Forecasting Use basic forecasting models to generate price predictions and determine price momentum | |
| Options Analysis Analyze and evaluate options and option chains as a potential hedge for your portfolios | |
| Financial Widgets Easily integrated Macroaxis content with over 30 different plug-and-play financial widgets | |
| My Watchlist Analysis Analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like |