Correlation Between Holitech Technology and Hangzhou EZVIZ
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By analyzing existing cross correlation between Holitech Technology Co and Hangzhou EZVIZ Network, you can compare the effects of market volatilities on Holitech Technology and Hangzhou EZVIZ 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 Hangzhou EZVIZ. Check out your portfolio center. Please also check ongoing floating volatility patterns of Holitech Technology and Hangzhou EZVIZ.
Diversification Opportunities for Holitech Technology and Hangzhou EZVIZ
-0.03 | Correlation Coefficient |
Good diversification
The 3 months correlation between Holitech and Hangzhou is -0.03. Overlapping area represents the amount of risk that can be diversified away by holding Holitech Technology Co and Hangzhou EZVIZ Network in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Hangzhou EZVIZ Network 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 Hangzhou EZVIZ. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Hangzhou EZVIZ Network has no effect on the direction of Holitech Technology i.e., Holitech Technology and Hangzhou EZVIZ go up and down completely randomly.
Pair Corralation between Holitech Technology and Hangzhou EZVIZ
Assuming the 90 days trading horizon Holitech Technology Co is expected to generate 2.47 times more return on investment than Hangzhou EZVIZ. However, Holitech Technology is 2.47 times more volatile than Hangzhou EZVIZ Network. It trades about -0.09 of its potential returns per unit of risk. Hangzhou EZVIZ Network is currently generating about -0.31 per unit of risk. If you would invest 227.00 in Holitech Technology Co on October 17, 2024 and sell it today you would lose (19.00) from holding Holitech Technology Co or give up 8.37% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Holitech Technology Co vs. Hangzhou EZVIZ Network
Performance |
| Timeline |
| Holitech Technology |
| Hangzhou EZVIZ Network |
Holitech Technology and Hangzhou EZVIZ Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Holitech Technology and Hangzhou EZVIZ
The main advantage of trading using opposite Holitech Technology and Hangzhou EZVIZ positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Holitech Technology position performs unexpectedly, Hangzhou EZVIZ 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 Hangzhou EZVIZ will offset losses from the drop in Hangzhou EZVIZ's long position.| Holitech Technology vs. Konfoong Materials International | Holitech Technology vs. Harvest Fund Management | Holitech Technology vs. Jinsanjiang Silicon Material | Holitech Technology vs. SSAW Hotels Resorts |
| Hangzhou EZVIZ vs. Holitech Technology Co | Hangzhou EZVIZ vs. Air China Ltd | Hangzhou EZVIZ vs. Long Yuan Construction | Hangzhou EZVIZ vs. Hubei Forbon Technology |
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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