Correlation Between Runjian Communication and Markor International
Specify exactly 2 symbols:
By analyzing existing cross correlation between Runjian Communication Co and Markor International Home, you can compare the effects of market volatilities on Runjian Communication 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 Runjian Communication with a short position of Markor International. Check out your portfolio center. Please also check ongoing floating volatility patterns of Runjian Communication and Markor International.
Diversification Opportunities for Runjian Communication and Markor International
0.17 | Correlation Coefficient |
Average diversification
The 3 months correlation between Runjian and Markor is 0.17. Overlapping area represents the amount of risk that can be diversified away by holding Runjian Communication 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 Runjian Communication 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 Runjian Communication 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 Runjian Communication i.e., Runjian Communication and Markor International go up and down completely randomly.
Pair Corralation between Runjian Communication and Markor International
Assuming the 90 days trading horizon Runjian Communication Co is expected to generate 1.07 times more return on investment than Markor International. However, Runjian Communication is 1.07 times more volatile than Markor International Home. It trades about -0.01 of its potential returns per unit of risk. Markor International Home is currently generating about -0.02 per unit of risk. If you would invest 4,609 in Runjian Communication Co on October 18, 2024 and sell it today you would lose (1,554) from holding Runjian Communication Co or give up 33.72% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 99.79% |
| Values | Daily Returns |
Runjian Communication Co vs. Markor International Home
Performance |
| Timeline |
| Runjian Communication |
| Markor International Home |
Runjian Communication and Markor International Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Runjian Communication and Markor International
The main advantage of trading using opposite Runjian Communication and Markor International positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Runjian Communication 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.| Runjian Communication vs. Liuzhou Chemical Industry | Runjian Communication vs. Shenyang Chemical Industry | Runjian Communication vs. Baoshan Iron Steel | Runjian Communication vs. Anyang Iron Steel |
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 Manager module to state of the art Portfolio Manager to monitor and improve performance of your invested capital.
Other Complementary Tools
| Portfolio Analyzer Portfolio analysis module that provides access to portfolio diagnostics and optimization engine | |
| Portfolio Center All portfolio management and optimization tools to improve performance of your portfolios | |
| Balance Of Power Check stock momentum by analyzing Balance Of Power indicator and other technical ratios | |
| Portfolio Rebalancing Analyze risk-adjusted returns against different time horizons to find asset-allocation targets | |
| Portfolio Diagnostics Use generated alerts and portfolio events aggregator to diagnose current holdings |