Correlation Between Guangzhou Tinci and Epoxy Base
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By analyzing existing cross correlation between Guangzhou Tinci Materials and Epoxy Base Electronic, you can compare the effects of market volatilities on Guangzhou Tinci and Epoxy Base 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 Guangzhou Tinci with a short position of Epoxy Base. Check out your portfolio center. Please also check ongoing floating volatility patterns of Guangzhou Tinci and Epoxy Base.
Diversification Opportunities for Guangzhou Tinci and Epoxy Base
0.35 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Guangzhou and Epoxy is 0.35. Overlapping area represents the amount of risk that can be diversified away by holding Guangzhou Tinci Materials and Epoxy Base Electronic in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Epoxy Base Electronic and Guangzhou Tinci 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 Guangzhou Tinci Materials are associated (or correlated) with Epoxy Base. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Epoxy Base Electronic has no effect on the direction of Guangzhou Tinci i.e., Guangzhou Tinci and Epoxy Base go up and down completely randomly.
Pair Corralation between Guangzhou Tinci and Epoxy Base
Assuming the 90 days trading horizon Guangzhou Tinci Materials is expected to under-perform the Epoxy Base. But the stock apears to be less risky and, when comparing its historical volatility, Guangzhou Tinci Materials is 1.4 times less risky than Epoxy Base. The stock trades about -0.05 of its potential returns per unit of risk. The Epoxy Base Electronic is currently generating about 0.02 of returns per unit of risk over similar time horizon. If you would invest 542.00 in Epoxy Base Electronic on November 6, 2024 and sell it today you would lose (2.00) from holding Epoxy Base Electronic or give up 0.37% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Guangzhou Tinci Materials vs. Epoxy Base Electronic
Performance |
| Timeline |
| Guangzhou Tinci Materials |
| Epoxy Base Electronic |
Guangzhou Tinci and Epoxy Base Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Guangzhou Tinci and Epoxy Base
The main advantage of trading using opposite Guangzhou Tinci and Epoxy Base positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Guangzhou Tinci position performs unexpectedly, Epoxy Base 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 Epoxy Base will offset losses from the drop in Epoxy Base's long position.| Guangzhou Tinci vs. Shenzhen Silver Basis | Guangzhou Tinci vs. Tianjin Silvery Dragon | Guangzhou Tinci vs. Fujian Oriental Silver | Guangzhou Tinci vs. Guocheng Mining Co |
| Epoxy Base vs. AUPU Home Style | Epoxy Base vs. Xiamen Goldenhome Co | Epoxy Base vs. Guangzhou Dongfang Hotel | Epoxy Base vs. Zbit Semiconductor A |
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 ETF Categories module to list of ETF categories grouped based on various criteria, such as the investment strategy or type of investments.
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