Correlation Between Dymatic Chemicals and Imeik Technology
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By analyzing existing cross correlation between Dymatic Chemicals and Imeik Technology Development, you can compare the effects of market volatilities on Dymatic Chemicals and Imeik Technology 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 Dymatic Chemicals with a short position of Imeik Technology. Check out your portfolio center. Please also check ongoing floating volatility patterns of Dymatic Chemicals and Imeik Technology.
Diversification Opportunities for Dymatic Chemicals and Imeik Technology
-0.11 | Correlation Coefficient |
Good diversification
The 3 months correlation between Dymatic and Imeik is -0.11. Overlapping area represents the amount of risk that can be diversified away by holding Dymatic Chemicals and Imeik Technology Development in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Imeik Technology Dev and Dymatic Chemicals 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 Dymatic Chemicals are associated (or correlated) with Imeik Technology. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Imeik Technology Dev has no effect on the direction of Dymatic Chemicals i.e., Dymatic Chemicals and Imeik Technology go up and down completely randomly.
Pair Corralation between Dymatic Chemicals and Imeik Technology
Assuming the 90 days trading horizon Dymatic Chemicals is expected to generate 1.21 times more return on investment than Imeik Technology. However, Dymatic Chemicals is 1.21 times more volatile than Imeik Technology Development. It trades about -0.31 of its potential returns per unit of risk. Imeik Technology Development is currently generating about -0.47 per unit of risk. If you would invest 681.00 in Dymatic Chemicals on October 11, 2024 and sell it today you would lose (114.00) from holding Dymatic Chemicals or give up 16.74% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Dymatic Chemicals vs. Imeik Technology Development
Performance |
| Timeline |
| Dymatic Chemicals |
| Imeik Technology Dev |
Dymatic Chemicals and Imeik Technology Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Dymatic Chemicals and Imeik Technology
The main advantage of trading using opposite Dymatic Chemicals and Imeik Technology positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Dymatic Chemicals position performs unexpectedly, Imeik Technology 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 Imeik Technology will offset losses from the drop in Imeik Technology's long position.| Dymatic Chemicals vs. Lecron Energy Saving | Dymatic Chemicals vs. Unisplendour Corp | Dymatic Chemicals vs. Ping An Insurance | Dymatic Chemicals vs. Xiamen Bank Co |
| Imeik Technology vs. Runjian Communication Co | Imeik Technology vs. Dymatic Chemicals | Imeik Technology vs. Do Fluoride Chemicals Co | Imeik Technology vs. Fibocom Wireless |
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 Portfolio Analyzer module to portfolio analysis module that provides access to portfolio diagnostics and optimization engine.
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