Correlation Between DO Home and Oppein Home
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By analyzing existing cross correlation between DO Home Collection and Oppein Home Group, you can compare the effects of market volatilities on DO Home and Oppein Home 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 DO Home with a short position of Oppein Home. Check out your portfolio center. Please also check ongoing floating volatility patterns of DO Home and Oppein Home.
Diversification Opportunities for DO Home and Oppein Home
0.97 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between 002798 and Oppein is 0.97. Overlapping area represents the amount of risk that can be diversified away by holding DO Home Collection and Oppein Home Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Oppein Home Group and DO Home 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 DO Home Collection are associated (or correlated) with Oppein Home. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Oppein Home Group has no effect on the direction of DO Home i.e., DO Home and Oppein Home go up and down completely randomly.
Pair Corralation between DO Home and Oppein Home
Assuming the 90 days trading horizon DO Home is expected to generate 1.58 times less return on investment than Oppein Home. But when comparing it to its historical volatility, DO Home Collection is 1.18 times less risky than Oppein Home. It trades about 0.17 of its potential returns per unit of risk. Oppein Home Group is currently generating about 0.23 of returns per unit of risk over similar time horizon. If you would invest 4,335 in Oppein Home Group on August 31, 2024 and sell it today you would earn a total of 2,725 from holding Oppein Home Group or generate 62.86% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
DO Home Collection vs. Oppein Home Group
Performance |
| Timeline |
| DO Home Collection |
| Oppein Home Group |
DO Home and Oppein Home Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with DO Home and Oppein Home
The main advantage of trading using opposite DO Home and Oppein Home positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if DO Home position performs unexpectedly, Oppein Home 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 Oppein Home will offset losses from the drop in Oppein Home's long position.| DO Home vs. Changchun BCHT Biotechnology | DO Home vs. Shandong Sino Agri United | DO Home vs. Maccura Biotechnology Co | DO Home vs. De Rucci Healthy |
| Oppein Home vs. China State Construction | Oppein Home vs. China Merchants Shekou | Oppein Home vs. Huafa Industrial Co | Oppein Home vs. China International Capital |
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 Portfolio Anywhere module to track or share privately all of your investments from the convenience of any device.
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