Correlation Between Dalian Zeus and Beijing Lanxum
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By analyzing existing cross correlation between Dalian Zeus Entertainment and Beijing Lanxum Tech, you can compare the effects of market volatilities on Dalian Zeus and Beijing Lanxum 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 Beijing Lanxum. Check out your portfolio center. Please also check ongoing floating volatility patterns of Dalian Zeus and Beijing Lanxum.
Diversification Opportunities for Dalian Zeus and Beijing Lanxum
0.77 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Dalian and Beijing is 0.77. Overlapping area represents the amount of risk that can be diversified away by holding Dalian Zeus Entertainment and Beijing Lanxum Tech in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Beijing Lanxum Tech 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 Beijing Lanxum. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Beijing Lanxum Tech has no effect on the direction of Dalian Zeus i.e., Dalian Zeus and Beijing Lanxum go up and down completely randomly.
Pair Corralation between Dalian Zeus and Beijing Lanxum
Assuming the 90 days trading horizon Dalian Zeus Entertainment is expected to generate 0.85 times more return on investment than Beijing Lanxum. However, Dalian Zeus Entertainment is 1.18 times less risky than Beijing Lanxum. It trades about 0.47 of its potential returns per unit of risk. Beijing Lanxum Tech is currently generating about 0.02 per unit of risk. If you would invest 404.00 in Dalian Zeus Entertainment on September 12, 2024 and sell it today you would earn a total of 368.00 from holding Dalian Zeus Entertainment or generate 91.09% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Dalian Zeus Entertainment vs. Beijing Lanxum Tech
Performance |
| Timeline |
| Dalian Zeus Entertainment |
| Beijing Lanxum Tech |
Dalian Zeus and Beijing Lanxum Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Dalian Zeus and Beijing Lanxum
The main advantage of trading using opposite Dalian Zeus and Beijing Lanxum positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Dalian Zeus position performs unexpectedly, Beijing Lanxum 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 Beijing Lanxum will offset losses from the drop in Beijing Lanxum's long position.| Dalian Zeus vs. Kweichow Moutai Co | Dalian Zeus vs. Shenzhen Mindray Bio Medical | Dalian Zeus vs. G bits Network Technology | Dalian Zeus vs. Beijing Roborock Technology |
| Beijing Lanxum vs. Xinjiang Tianrun Dairy | Beijing Lanxum vs. Namchow Food Group | Beijing Lanxum vs. Zhongyin Babi Food | Beijing Lanxum vs. Shenzhen Noposion Agrochemicals |
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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