Correlation Between Integrated Electronic and Dawning Information
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By analyzing existing cross correlation between Integrated Electronic Systems and Dawning Information Industry, you can compare the effects of market volatilities on Integrated Electronic and Dawning Information 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 Dawning Information. Check out your portfolio center. Please also check ongoing floating volatility patterns of Integrated Electronic and Dawning Information.
Diversification Opportunities for Integrated Electronic and Dawning Information
0.91 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Integrated and Dawning is 0.91. Overlapping area represents the amount of risk that can be diversified away by holding Integrated Electronic Systems and Dawning Information Industry in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Dawning Information 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 Dawning Information. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Dawning Information has no effect on the direction of Integrated Electronic i.e., Integrated Electronic and Dawning Information go up and down completely randomly.
Pair Corralation between Integrated Electronic and Dawning Information
Assuming the 90 days trading horizon Integrated Electronic Systems is expected to generate 0.82 times more return on investment than Dawning Information. However, Integrated Electronic Systems is 1.22 times less risky than Dawning Information. It trades about 0.08 of its potential returns per unit of risk. Dawning Information Industry is currently generating about -0.15 per unit of risk. If you would invest 728.00 in Integrated Electronic Systems on September 12, 2024 and sell it today you would earn a total of 34.00 from holding Integrated Electronic Systems or generate 4.67% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 95.65% |
| Values | Daily Returns |
Integrated Electronic Systems vs. Dawning Information Industry
Performance |
| Timeline |
| Integrated Electronic |
| Dawning Information |
Integrated Electronic and Dawning Information Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Integrated Electronic and Dawning Information
The main advantage of trading using opposite Integrated Electronic and Dawning Information positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Integrated Electronic position performs unexpectedly, Dawning Information 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 Dawning Information will offset losses from the drop in Dawning Information's long position.| Integrated Electronic vs. Agricultural Bank of | Integrated Electronic vs. Industrial and Commercial | Integrated Electronic vs. Bank of China | Integrated Electronic vs. PetroChina Co Ltd |
| Dawning Information vs. Gansu Jiu Steel | Dawning Information vs. Shandong Mining Machinery | Dawning Information vs. Aba Chemicals Corp | Dawning Information vs. BlueFocus Communication Group |
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 Backtesting module to avoid under-diversification and over-optimization by backtesting your portfolios.
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