Correlation Between Ciwen Media and Lotus Health
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By analyzing existing cross correlation between Ciwen Media Co and Lotus Health Group, you can compare the effects of market volatilities on Ciwen Media and Lotus Health 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 Ciwen Media with a short position of Lotus Health. Check out your portfolio center. Please also check ongoing floating volatility patterns of Ciwen Media and Lotus Health.
Diversification Opportunities for Ciwen Media and Lotus Health
0.45 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Ciwen and Lotus is 0.45. Overlapping area represents the amount of risk that can be diversified away by holding Ciwen Media Co and Lotus Health Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Lotus Health Group and Ciwen Media 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 Ciwen Media Co are associated (or correlated) with Lotus Health. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Lotus Health Group has no effect on the direction of Ciwen Media i.e., Ciwen Media and Lotus Health go up and down completely randomly.
Pair Corralation between Ciwen Media and Lotus Health
Assuming the 90 days trading horizon Ciwen Media Co is expected to under-perform the Lotus Health. But the stock apears to be less risky and, when comparing its historical volatility, Ciwen Media Co is 1.53 times less risky than Lotus Health. The stock trades about -0.13 of its potential returns per unit of risk. The Lotus Health Group is currently generating about 0.0 of returns per unit of risk over similar time horizon. If you would invest 530.00 in Lotus Health Group on October 30, 2024 and sell it today you would lose (27.00) from holding Lotus Health Group or give up 5.09% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Ciwen Media Co vs. Lotus Health Group
Performance |
| Timeline |
| Ciwen Media |
| Lotus Health Group |
Ciwen Media and Lotus Health Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Ciwen Media and Lotus Health
The main advantage of trading using opposite Ciwen Media and Lotus Health positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Ciwen Media position performs unexpectedly, Lotus Health 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 Lotus Health will offset losses from the drop in Lotus Health's long position.| Ciwen Media vs. Jiangsu Broadcasting Cable | Ciwen Media vs. Anhui Gujing Distillery | Ciwen Media vs. Sichuan Fulin Transportation | Ciwen Media vs. LianChuang Electronic Technology |
| Lotus Health vs. Healthcare Co | Lotus Health vs. Everjoy Health Group | Lotus Health vs. GRG Banking Equipment | Lotus Health vs. Shanghai Rongtai Health |
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 Risk-Return Analysis module to view associations between returns expected from investment and the risk you assume.
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