Correlation Between Zoje Resources and Epoxy Base
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By analyzing existing cross correlation between Zoje Resources Investment and Epoxy Base Electronic, you can compare the effects of market volatilities on Zoje Resources and Epoxy Base 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 Zoje Resources with a short position of Epoxy Base. Check out your portfolio center. Please also check ongoing floating volatility patterns of Zoje Resources and Epoxy Base.
Diversification Opportunities for Zoje Resources and Epoxy Base
0.55 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Zoje and Epoxy is 0.55. Overlapping area represents the amount of risk that can be diversified away by holding Zoje Resources Investment and Epoxy Base Electronic in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Epoxy Base Electronic and Zoje Resources 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 Zoje Resources Investment are associated (or correlated) with Epoxy Base. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Epoxy Base Electronic has no effect on the direction of Zoje Resources i.e., Zoje Resources and Epoxy Base go up and down completely randomly.
Pair Corralation between Zoje Resources and Epoxy Base
Assuming the 90 days trading horizon Zoje Resources is expected to generate 3.67 times less return on investment than Epoxy Base. In addition to that, Zoje Resources is 1.05 times more volatile than Epoxy Base Electronic. It trades about 0.15 of its total potential returns per unit of risk. Epoxy Base Electronic is currently generating about 0.56 per unit of volatility. If you would invest 540.00 in Epoxy Base Electronic on November 27, 2024 and sell it today you would earn a total of 101.00 from holding Epoxy Base Electronic or generate 18.7% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Zoje Resources Investment vs. Epoxy Base Electronic
Performance |
| Timeline |
| Zoje Resources Investment |
| Epoxy Base Electronic |
Zoje Resources and Epoxy Base Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Zoje Resources and Epoxy Base
The main advantage of trading using opposite Zoje Resources and Epoxy Base positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Zoje Resources position performs unexpectedly, Epoxy Base 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 Epoxy Base will offset losses from the drop in Epoxy Base's long position.| Zoje Resources vs. Guolin Environmental Tech | Zoje Resources vs. Shanghai Rongtai Health | Zoje Resources vs. Qiaoyin Environmental Tech | Zoje Resources vs. China Reform Health |
| Epoxy Base vs. Offshore Oil Engineering | Epoxy Base vs. Jiahe Foods Industry | Epoxy Base vs. Heilongjiang Transport Development | Epoxy Base vs. Jiajia Food 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 Bonds Directory module to find actively traded corporate debentures issued by US companies.
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