Correlation Between Maxvision Technology and Changchun High
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By analyzing existing cross correlation between Maxvision Technology Corp and Changchun High New, you can compare the effects of market volatilities on Maxvision Technology and Changchun High 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 Maxvision Technology with a short position of Changchun High. Check out your portfolio center. Please also check ongoing floating volatility patterns of Maxvision Technology and Changchun High.
Diversification Opportunities for Maxvision Technology and Changchun High
0.28 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Maxvision and Changchun is 0.28. Overlapping area represents the amount of risk that can be diversified away by holding Maxvision Technology Corp and Changchun High New in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Changchun High New and Maxvision Technology 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 Maxvision Technology Corp are associated (or correlated) with Changchun High. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Changchun High New has no effect on the direction of Maxvision Technology i.e., Maxvision Technology and Changchun High go up and down completely randomly.
Pair Corralation between Maxvision Technology and Changchun High
Assuming the 90 days trading horizon Maxvision Technology Corp is expected to generate 1.31 times more return on investment than Changchun High. However, Maxvision Technology is 1.31 times more volatile than Changchun High New. It trades about -0.02 of its potential returns per unit of risk. Changchun High New is currently generating about -0.06 per unit of risk. If you would invest 3,331 in Maxvision Technology Corp on October 16, 2024 and sell it today you would lose (1,127) from holding Maxvision Technology Corp or give up 33.83% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Maxvision Technology Corp vs. Changchun High New
Performance |
| Timeline |
| Maxvision Technology Corp |
| Changchun High New |
Maxvision Technology and Changchun High Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Maxvision Technology and Changchun High
The main advantage of trading using opposite Maxvision Technology and Changchun High positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Maxvision Technology position performs unexpectedly, Changchun High 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 Changchun High will offset losses from the drop in Changchun High's long position.The idea behind Maxvision Technology Corp and Changchun High New pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.
| Changchun High vs. Maxvision Technology Corp | Changchun High vs. Kingsignal Technology Co | Changchun High vs. Bangyan Technology Co | Changchun High vs. Soyea Technology Co |
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 Sign In To Macroaxis module to sign in to explore Macroaxis' wealth optimization platform and fintech modules.
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