Correlation Between Dalian Zeus and Ciwen Media
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By analyzing existing cross correlation between Dalian Zeus Entertainment and Ciwen Media Co, you can compare the effects of market volatilities on Dalian Zeus and Ciwen Media 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 Dalian Zeus with a short position of Ciwen Media. Check out your portfolio center. Please also check ongoing floating volatility patterns of Dalian Zeus and Ciwen Media.
Diversification Opportunities for Dalian Zeus and Ciwen Media
0.86 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Dalian and Ciwen is 0.86. Overlapping area represents the amount of risk that can be diversified away by holding Dalian Zeus Entertainment and Ciwen Media Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Ciwen Media and Dalian Zeus 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 Dalian Zeus Entertainment are associated (or correlated) with Ciwen Media. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Ciwen Media has no effect on the direction of Dalian Zeus i.e., Dalian Zeus and Ciwen Media go up and down completely randomly.
Pair Corralation between Dalian Zeus and Ciwen Media
Assuming the 90 days trading horizon Dalian Zeus Entertainment is expected to generate 1.53 times more return on investment than Ciwen Media. However, Dalian Zeus is 1.53 times more volatile than Ciwen Media Co. It trades about 0.31 of its potential returns per unit of risk. Ciwen Media Co is currently generating about 0.25 per unit of risk. If you would invest 349.00 in Dalian Zeus Entertainment on September 2, 2024 and sell it today you would earn a total of 141.00 from holding Dalian Zeus Entertainment or generate 40.4% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Dalian Zeus Entertainment vs. Ciwen Media Co
Performance |
| Timeline |
| Dalian Zeus Entertainment |
| Ciwen Media |
Dalian Zeus and Ciwen Media Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Dalian Zeus and Ciwen Media
The main advantage of trading using opposite Dalian Zeus and Ciwen Media positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Dalian Zeus position performs unexpectedly, Ciwen Media 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 Ciwen Media will offset losses from the drop in Ciwen Media's long position.| Dalian Zeus vs. Shenzhen MYS Environmental | Dalian Zeus vs. AVIC Fund Management | Dalian Zeus vs. Penghua Shenzhen Energy | Dalian Zeus vs. Jizhong Energy Resources |
| Ciwen Media vs. Lutian Machinery Co | Ciwen Media vs. China Longyuan Power | Ciwen Media vs. PetroChina Co Ltd | Ciwen Media vs. Bank of China |
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 My Watchlist Analysis module to analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like.
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