Correlation Between Holitech Technology and Der International
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By analyzing existing cross correlation between Holitech Technology Co and Der International Home, you can compare the effects of market volatilities on Holitech Technology and Der International 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 Holitech Technology with a short position of Der International. Check out your portfolio center. Please also check ongoing floating volatility patterns of Holitech Technology and Der International.
Diversification Opportunities for Holitech Technology and Der International
0.68 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Holitech and Der is 0.68. Overlapping area represents the amount of risk that can be diversified away by holding Holitech Technology Co and Der International Home in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Der International Home and Holitech Technology 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 Holitech Technology Co are associated (or correlated) with Der International. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Der International Home has no effect on the direction of Holitech Technology i.e., Holitech Technology and Der International go up and down completely randomly.
Pair Corralation between Holitech Technology and Der International
Assuming the 90 days trading horizon Holitech Technology Co is expected to generate 1.39 times more return on investment than Der International. However, Holitech Technology is 1.39 times more volatile than Der International Home. It trades about 0.38 of its potential returns per unit of risk. Der International Home is currently generating about 0.29 per unit of risk. If you would invest 166.00 in Holitech Technology Co on August 31, 2024 and sell it today you would earn a total of 64.00 from holding Holitech Technology Co or generate 38.55% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Holitech Technology Co vs. Der International Home
Performance |
| Timeline |
| Holitech Technology |
| Der International Home |
Holitech Technology and Der International Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Holitech Technology and Der International
The main advantage of trading using opposite Holitech Technology and Der International positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Holitech Technology position performs unexpectedly, Der International 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 Der International will offset losses from the drop in Der International's long position.| Holitech Technology vs. Kweichow Moutai Co | Holitech Technology vs. NAURA Technology Group | Holitech Technology vs. APT Medical | Holitech Technology vs. Contemporary Amperex Technology |
| Der International vs. Cultural Investment Holdings | Der International vs. Gome Telecom Equipment | Der International vs. Bus Online Co | Der International vs. Holitech Technology Co |
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 Equity Valuation module to check real value of public entities based on technical and fundamental data.
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