Correlation Between Der International and Marssenger Kitchenware
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By analyzing existing cross correlation between Der International Home and Marssenger Kitchenware Co, you can compare the effects of market volatilities on Der International and Marssenger Kitchenware 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 Der International with a short position of Marssenger Kitchenware. Check out your portfolio center. Please also check ongoing floating volatility patterns of Der International and Marssenger Kitchenware.
Diversification Opportunities for Der International and Marssenger Kitchenware
0.86 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Der and Marssenger is 0.86. Overlapping area represents the amount of risk that can be diversified away by holding Der International Home and Marssenger Kitchenware Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Marssenger Kitchenware and Der International 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 Der International Home are associated (or correlated) with Marssenger Kitchenware. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Marssenger Kitchenware has no effect on the direction of Der International i.e., Der International and Marssenger Kitchenware go up and down completely randomly.
Pair Corralation between Der International and Marssenger Kitchenware
Assuming the 90 days trading horizon Der International Home is expected to generate 0.81 times more return on investment than Marssenger Kitchenware. However, Der International Home is 1.24 times less risky than Marssenger Kitchenware. It trades about 0.0 of its potential returns per unit of risk. Marssenger Kitchenware Co is currently generating about -0.02 per unit of risk. If you would invest 587.00 in Der International Home on September 3, 2024 and sell it today you would lose (75.00) from holding Der International Home or give up 12.78% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Der International Home vs. Marssenger Kitchenware Co
Performance |
| Timeline |
| Der International Home |
| Marssenger Kitchenware |
Der International and Marssenger Kitchenware Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Der International and Marssenger Kitchenware
The main advantage of trading using opposite Der International and Marssenger Kitchenware positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Der International position performs unexpectedly, Marssenger Kitchenware 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 Marssenger Kitchenware will offset losses from the drop in Marssenger Kitchenware's long position.| Der International vs. Marssenger Kitchenware Co | Der International vs. Shenzhen Noposion Agrochemicals | Der International vs. Chahua Modern Housewares | Der International vs. HUAQIN TECHNOLOGY LTD |
| Marssenger Kitchenware vs. PetroChina Co Ltd | Marssenger Kitchenware vs. China Mobile Limited | Marssenger Kitchenware vs. Industrial and Commercial | Marssenger Kitchenware vs. China Life Insurance |
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 CEOs Directory module to screen CEOs from public companies around the world.
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