Correlation Between Muyuan Foodstuff and Markor International
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By analyzing existing cross correlation between Muyuan Foodstuff Co and Markor International Home, you can compare the effects of market volatilities on Muyuan Foodstuff 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 Muyuan Foodstuff with a short position of Markor International. Check out your portfolio center. Please also check ongoing floating volatility patterns of Muyuan Foodstuff and Markor International.
Diversification Opportunities for Muyuan Foodstuff and Markor International
-0.12 | Correlation Coefficient |
Good diversification
The 3 months correlation between Muyuan and Markor is -0.12. Overlapping area represents the amount of risk that can be diversified away by holding Muyuan Foodstuff 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 Muyuan Foodstuff 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 Muyuan Foodstuff 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 Muyuan Foodstuff i.e., Muyuan Foodstuff and Markor International go up and down completely randomly.
Pair Corralation between Muyuan Foodstuff and Markor International
Assuming the 90 days trading horizon Muyuan Foodstuff Co is expected to generate 0.23 times more return on investment than Markor International. However, Muyuan Foodstuff Co is 4.28 times less risky than Markor International. It trades about -0.41 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 3,948 in Muyuan Foodstuff Co on October 14, 2024 and sell it today you would lose (328.00) from holding Muyuan Foodstuff Co or give up 8.31% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Muyuan Foodstuff Co vs. Markor International Home
Performance |
| Timeline |
| Muyuan Foodstuff |
| Markor International Home |
Muyuan Foodstuff and Markor International Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Muyuan Foodstuff and Markor International
The main advantage of trading using opposite Muyuan Foodstuff and Markor International positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Muyuan Foodstuff 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.| Muyuan Foodstuff vs. Guangdong Wens Foodstuff | Muyuan Foodstuff vs. Miracll Chemicals Co | Muyuan Foodstuff vs. HaiXin Foods Co | Muyuan Foodstuff vs. Gan Yuan Foods |
| 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 Sync Your Broker module to sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors..
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