Correlation Between Der International and Camel Group
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By analyzing existing cross correlation between Der International Home and Camel Group Co, you can compare the effects of market volatilities on Der International and Camel Group 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 Camel Group. Check out your portfolio center. Please also check ongoing floating volatility patterns of Der International and Camel Group.
Diversification Opportunities for Der International and Camel Group
0.93 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Der and Camel is 0.93. Overlapping area represents the amount of risk that can be diversified away by holding Der International Home and Camel Group Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Camel Group 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 Camel Group. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Camel Group has no effect on the direction of Der International i.e., Der International and Camel Group go up and down completely randomly.
Pair Corralation between Der International and Camel Group
Assuming the 90 days trading horizon Der International Home is expected to under-perform the Camel Group. In addition to that, Der International is 1.65 times more volatile than Camel Group Co. It trades about 0.0 of its total potential returns per unit of risk. Camel Group Co is currently generating about 0.0 per unit of volatility. If you would invest 888.00 in Camel Group Co on August 24, 2024 and sell it today you would lose (25.00) from holding Camel Group Co or give up 2.82% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Der International Home vs. Camel Group Co
Performance |
| Timeline |
| Der International Home |
| Camel Group |
Der International and Camel Group Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Der International and Camel Group
The main advantage of trading using opposite Der International and Camel Group positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Der International position performs unexpectedly, Camel Group 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 Camel Group will offset losses from the drop in Camel Group's long position.| Der International vs. Chengdu Kanghua Biological | Der International vs. Beijing Wantai Biological | Der International vs. Suzhou Novoprotein Scientific | Der International vs. Aluminum Corp of |
| Camel Group vs. Der International Home | Camel Group vs. Nanxing Furniture Machinery | Camel Group vs. Healthcare Co | Camel Group vs. Zoy Home Furnishing |
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 Positions Ratings module to determine portfolio positions ratings based on digital equity recommendations. Macroaxis instant position ratings are based on combination of fundamental analysis and risk-adjusted market performance.
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