Correlation Between HaiXin Foods and Markor International
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By analyzing existing cross correlation between HaiXin Foods Co and Markor International Home, you can compare the effects of market volatilities on HaiXin Foods and Markor International 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 HaiXin Foods with a short position of Markor International. Check out your portfolio center. Please also check ongoing floating volatility patterns of HaiXin Foods and Markor International.
Diversification Opportunities for HaiXin Foods and Markor International
0.91 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between HaiXin and Markor is 0.91. Overlapping area represents the amount of risk that can be diversified away by holding HaiXin Foods Co and Markor International Home in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Markor International Home and HaiXin Foods 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 HaiXin Foods Co are associated (or correlated) with Markor International. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Markor International Home has no effect on the direction of HaiXin Foods i.e., HaiXin Foods and Markor International go up and down completely randomly.
Pair Corralation between HaiXin Foods and Markor International
Assuming the 90 days trading horizon HaiXin Foods Co is expected to generate 1.19 times more return on investment than Markor International. However, HaiXin Foods is 1.19 times more volatile than Markor International Home. It trades about -0.4 of its potential returns per unit of risk. Markor International Home is currently generating about -0.49 per unit of risk. If you would invest 641.00 in HaiXin Foods Co on October 14, 2024 and sell it today you would lose (236.00) from holding HaiXin Foods Co or give up 36.82% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
HaiXin Foods Co vs. Markor International Home
Performance |
| Timeline |
| HaiXin Foods |
| Markor International Home |
HaiXin Foods and Markor International Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with HaiXin Foods and Markor International
The main advantage of trading using opposite HaiXin Foods and Markor International positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if HaiXin Foods position performs unexpectedly, Markor International 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 Markor International will offset losses from the drop in Markor International's long position.| HaiXin Foods vs. Xinjiang Baodi Mining | HaiXin Foods vs. Sharetronic Data Technology | HaiXin Foods vs. Digiwin Software Co | HaiXin Foods vs. Tianjin Silvery Dragon |
| Markor International vs. Mengtian Home Group | Markor International vs. DO Home Collection | Markor International vs. Shandong Homey Aquatic | Markor International vs. Qumei Furniture Group |
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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