Correlation Between Ningbo Tech-Bank and Maxvision Technology
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By analyzing existing cross correlation between Ningbo Tech Bank Co and Maxvision Technology Corp, you can compare the effects of market volatilities on Ningbo Tech-Bank and Maxvision 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 Ningbo Tech-Bank with a short position of Maxvision Technology. Check out your portfolio center. Please also check ongoing floating volatility patterns of Ningbo Tech-Bank and Maxvision Technology.
Diversification Opportunities for Ningbo Tech-Bank and Maxvision Technology
-0.15 | Correlation Coefficient |
Good diversification
The 3 months correlation between Ningbo and Maxvision is -0.15. Overlapping area represents the amount of risk that can be diversified away by holding Ningbo Tech Bank Co and Maxvision Technology Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Maxvision Technology Corp and Ningbo Tech-Bank 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 Ningbo Tech Bank Co are associated (or correlated) with Maxvision Technology. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Maxvision Technology Corp has no effect on the direction of Ningbo Tech-Bank i.e., Ningbo Tech-Bank and Maxvision Technology go up and down completely randomly.
Pair Corralation between Ningbo Tech-Bank and Maxvision Technology
Assuming the 90 days trading horizon Ningbo Tech Bank Co is expected to generate 0.46 times more return on investment than Maxvision Technology. However, Ningbo Tech Bank Co is 2.16 times less risky than Maxvision Technology. It trades about 0.24 of its potential returns per unit of risk. Maxvision Technology Corp is currently generating about -0.01 per unit of risk. If you would invest 269.00 in Ningbo Tech Bank Co on January 2, 2025 and sell it today you would earn a total of 31.00 from holding Ningbo Tech Bank Co or generate 11.52% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 95.65% |
| Values | Daily Returns |
Ningbo Tech Bank Co vs. Maxvision Technology Corp
Performance |
| Timeline |
| Ningbo Tech Bank |
| Maxvision Technology Corp |
Ningbo Tech-Bank and Maxvision Technology Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Ningbo Tech-Bank and Maxvision Technology
The main advantage of trading using opposite Ningbo Tech-Bank and Maxvision Technology positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Ningbo Tech-Bank position performs unexpectedly, Maxvision 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 Maxvision Technology will offset losses from the drop in Maxvision Technology's long position.| Ningbo Tech-Bank vs. Guocheng Mining Co | Ningbo Tech-Bank vs. Sanbo Hospital Management | Ningbo Tech-Bank vs. Youngy Health Co | Ningbo Tech-Bank vs. Dezhan HealthCare Co |
| Maxvision Technology vs. Western Metal Materials | Maxvision Technology vs. Chengtun Mining Group | Maxvision Technology vs. Zijin Mining Group | Maxvision Technology vs. Hefei Metalforming Mach |
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 Headlines Timeline module to stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity.
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