Correlation Between ZYF Lopsking and Duzhe Publishing
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By analyzing existing cross correlation between ZYF Lopsking Aluminum and Duzhe Publishing Media, you can compare the effects of market volatilities on ZYF Lopsking and Duzhe Publishing 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 ZYF Lopsking with a short position of Duzhe Publishing. Check out your portfolio center. Please also check ongoing floating volatility patterns of ZYF Lopsking and Duzhe Publishing.
Diversification Opportunities for ZYF Lopsking and Duzhe Publishing
0.9 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between ZYF and Duzhe is 0.9. Overlapping area represents the amount of risk that can be diversified away by holding ZYF Lopsking Aluminum and Duzhe Publishing Media in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Duzhe Publishing Media and ZYF Lopsking 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 ZYF Lopsking Aluminum are associated (or correlated) with Duzhe Publishing. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Duzhe Publishing Media has no effect on the direction of ZYF Lopsking i.e., ZYF Lopsking and Duzhe Publishing go up and down completely randomly.
Pair Corralation between ZYF Lopsking and Duzhe Publishing
Assuming the 90 days trading horizon ZYF Lopsking Aluminum is expected to under-perform the Duzhe Publishing. But the stock apears to be less risky and, when comparing its historical volatility, ZYF Lopsking Aluminum is 2.54 times less risky than Duzhe Publishing. The stock trades about -0.11 of its potential returns per unit of risk. The Duzhe Publishing Media is currently generating about 0.16 of returns per unit of risk over similar time horizon. If you would invest 606.00 in Duzhe Publishing Media on September 24, 2024 and sell it today you would earn a total of 79.00 from holding Duzhe Publishing Media or generate 13.04% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
ZYF Lopsking Aluminum vs. Duzhe Publishing Media
Performance |
| Timeline |
| ZYF Lopsking Aluminum |
| Duzhe Publishing Media |
ZYF Lopsking and Duzhe Publishing Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with ZYF Lopsking and Duzhe Publishing
The main advantage of trading using opposite ZYF Lopsking and Duzhe Publishing positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if ZYF Lopsking position performs unexpectedly, Duzhe Publishing 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 Duzhe Publishing will offset losses from the drop in Duzhe Publishing's long position.| ZYF Lopsking vs. Wanhua Chemical Group | ZYF Lopsking vs. Baoshan Iron Steel | ZYF Lopsking vs. Shandong Gold Mining | ZYF Lopsking vs. Rongsheng Petrochemical Co |
| Duzhe Publishing vs. Xilong Chemical Co | Duzhe Publishing vs. Shenzhen Noposion Agrochemicals | Duzhe Publishing vs. Success Electronics | Duzhe Publishing vs. Ningxia Younglight Chemicals |
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 Diagnostics module to use generated alerts and portfolio events aggregator to diagnose current holdings.
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