Correlation Between Oriental Times and Easyhome New
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By analyzing existing cross correlation between Oriental Times Media and Easyhome New Retail, you can compare the effects of market volatilities on Oriental Times and Easyhome New 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 Oriental Times with a short position of Easyhome New. Check out your portfolio center. Please also check ongoing floating volatility patterns of Oriental Times and Easyhome New.
Diversification Opportunities for Oriental Times and Easyhome New
0.69 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Oriental and Easyhome is 0.69. Overlapping area represents the amount of risk that can be diversified away by holding Oriental Times Media and Easyhome New Retail in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Easyhome New Retail and Oriental Times 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 Oriental Times Media are associated (or correlated) with Easyhome New. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Easyhome New Retail has no effect on the direction of Oriental Times i.e., Oriental Times and Easyhome New go up and down completely randomly.
Pair Corralation between Oriental Times and Easyhome New
Assuming the 90 days trading horizon Oriental Times Media is expected to generate 1.32 times more return on investment than Easyhome New. However, Oriental Times is 1.32 times more volatile than Easyhome New Retail. It trades about 0.05 of its potential returns per unit of risk. Easyhome New Retail is currently generating about 0.02 per unit of risk. If you would invest 347.00 in Oriental Times Media on November 27, 2024 and sell it today you would earn a total of 227.00 from holding Oriental Times Media or generate 65.42% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Oriental Times Media vs. Easyhome New Retail
Performance |
| Timeline |
| Oriental Times Media |
| Easyhome New Retail |
Oriental Times and Easyhome New Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Oriental Times and Easyhome New
The main advantage of trading using opposite Oriental Times and Easyhome New positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Oriental Times position performs unexpectedly, Easyhome New 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 Easyhome New will offset losses from the drop in Easyhome New's long position.| Oriental Times vs. Fiberhome Telecommunication Technologies | Oriental Times vs. Zhongyin Babi Food | Oriental Times vs. Namchow Food Group | Oriental Times vs. HaiXin Foods Co |
| Easyhome New vs. Jiahe Foods Industry | Easyhome New vs. Eastroc Beverage Group | Easyhome New vs. Shandong Huifa Foodstuff | Easyhome New vs. Queclink Wireless Solutions |
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 ETFs module to find actively traded Exchange Traded Funds (ETF) from around the world.
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