Correlation Between Glodon Software and Loctek Ergonomic
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By analyzing existing cross correlation between Glodon Software Co and Loctek Ergonomic Technology, you can compare the effects of market volatilities on Glodon Software and Loctek Ergonomic 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 Glodon Software with a short position of Loctek Ergonomic. Check out your portfolio center. Please also check ongoing floating volatility patterns of Glodon Software and Loctek Ergonomic.
Diversification Opportunities for Glodon Software and Loctek Ergonomic
0.82 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Glodon and Loctek is 0.82. Overlapping area represents the amount of risk that can be diversified away by holding Glodon Software Co and Loctek Ergonomic Technology in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Loctek Ergonomic Tec and Glodon Software 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 Glodon Software Co are associated (or correlated) with Loctek Ergonomic. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Loctek Ergonomic Tec has no effect on the direction of Glodon Software i.e., Glodon Software and Loctek Ergonomic go up and down completely randomly.
Pair Corralation between Glodon Software and Loctek Ergonomic
Assuming the 90 days trading horizon Glodon Software Co is expected to under-perform the Loctek Ergonomic. In addition to that, Glodon Software is 1.18 times more volatile than Loctek Ergonomic Technology. It trades about -0.04 of its total potential returns per unit of risk. Loctek Ergonomic Technology is currently generating about 0.19 per unit of volatility. If you would invest 1,589 in Loctek Ergonomic Technology on September 5, 2024 and sell it today you would earn a total of 169.00 from holding Loctek Ergonomic Technology or generate 10.64% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Glodon Software Co vs. Loctek Ergonomic Technology
Performance |
| Timeline |
| Glodon Software |
| Loctek Ergonomic Tec |
Glodon Software and Loctek Ergonomic Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Glodon Software and Loctek Ergonomic
The main advantage of trading using opposite Glodon Software and Loctek Ergonomic positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Glodon Software position performs unexpectedly, Loctek Ergonomic 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 Loctek Ergonomic will offset losses from the drop in Loctek Ergonomic's long position.| Glodon Software vs. BYD Co Ltd | Glodon Software vs. China Mobile Limited | Glodon Software vs. Agricultural Bank of | Glodon Software vs. Industrial and Commercial |
| Loctek Ergonomic vs. Nuode Investment Co | Loctek Ergonomic vs. Metro Investment Development | Loctek Ergonomic vs. Kunwu Jiuding Investment | Loctek Ergonomic vs. Glodon Software Co |
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 ETFs module to find actively traded Exchange Traded Funds (ETF) from around the world.
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