Correlation Between Integrated Electronic and Easyhome New
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By analyzing existing cross correlation between Integrated Electronic Systems and Easyhome New Retail, you can compare the effects of market volatilities on Integrated Electronic 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 Integrated Electronic with a short position of Easyhome New. Check out your portfolio center. Please also check ongoing floating volatility patterns of Integrated Electronic and Easyhome New.
Diversification Opportunities for Integrated Electronic and Easyhome New
0.93 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Integrated and Easyhome is 0.93. Overlapping area represents the amount of risk that can be diversified away by holding Integrated Electronic Systems 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 Integrated Electronic 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 Integrated Electronic Systems 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 Integrated Electronic i.e., Integrated Electronic and Easyhome New go up and down completely randomly.
Pair Corralation between Integrated Electronic and Easyhome New
Assuming the 90 days trading horizon Integrated Electronic Systems is expected to generate 1.42 times more return on investment than Easyhome New. However, Integrated Electronic is 1.42 times more volatile than Easyhome New Retail. It trades about 0.22 of its potential returns per unit of risk. Easyhome New Retail is currently generating about 0.14 per unit of risk. If you would invest 677.00 in Integrated Electronic Systems on September 5, 2024 and sell it today you would earn a total of 110.00 from holding Integrated Electronic Systems or generate 16.25% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Integrated Electronic Systems vs. Easyhome New Retail
Performance |
| Timeline |
| Integrated Electronic |
| Easyhome New Retail |
Integrated Electronic and Easyhome New Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Integrated Electronic and Easyhome New
The main advantage of trading using opposite Integrated Electronic and Easyhome New positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Integrated Electronic 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.| Integrated Electronic vs. Biwin Storage Technology | Integrated Electronic vs. PetroChina Co Ltd | Integrated Electronic vs. Industrial and Commercial | Integrated Electronic vs. China Construction Bank |
| Easyhome New vs. AVCON Information Tech | Easyhome New vs. Renxin New Material | Easyhome New vs. Fuda Alloy Materials | Easyhome New vs. Focus Media Information |
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 Idea Optimizer module to use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio .
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