Correlation Between Maxvision Technology and BTG Hotels
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By analyzing existing cross correlation between Maxvision Technology Corp and BTG Hotels Group, you can compare the effects of market volatilities on Maxvision Technology and BTG Hotels 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 BTG Hotels. Check out your portfolio center. Please also check ongoing floating volatility patterns of Maxvision Technology and BTG Hotels.
Diversification Opportunities for Maxvision Technology and BTG Hotels
0.91 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Maxvision and BTG is 0.91. Overlapping area represents the amount of risk that can be diversified away by holding Maxvision Technology Corp and BTG Hotels Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on BTG Hotels Group 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 BTG Hotels. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BTG Hotels Group has no effect on the direction of Maxvision Technology i.e., Maxvision Technology and BTG Hotels go up and down completely randomly.
Pair Corralation between Maxvision Technology and BTG Hotels
Assuming the 90 days trading horizon Maxvision Technology Corp is expected to generate 1.34 times more return on investment than BTG Hotels. However, Maxvision Technology is 1.34 times more volatile than BTG Hotels Group. It trades about 0.24 of its potential returns per unit of risk. BTG Hotels Group is currently generating about 0.21 per unit of risk. If you would invest 2,433 in Maxvision Technology Corp on September 14, 2024 and sell it today you would earn a total of 351.00 from holding Maxvision Technology Corp or generate 14.43% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Maxvision Technology Corp vs. BTG Hotels Group
Performance |
| Timeline |
| Maxvision Technology Corp |
| BTG Hotels Group |
Maxvision Technology and BTG Hotels Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Maxvision Technology and BTG Hotels
The main advantage of trading using opposite Maxvision Technology and BTG Hotels positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Maxvision Technology position performs unexpectedly, BTG Hotels 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 BTG Hotels will offset losses from the drop in BTG Hotels' long position.| Maxvision Technology vs. Ming Yang Smart | Maxvision Technology vs. 159681 | Maxvision Technology vs. 159005 | Maxvision Technology vs. Loctek Ergonomic Technology |
| BTG Hotels vs. Iat Automobile Technology | BTG Hotels vs. Shaanxi Broadcast TV | BTG Hotels vs. Zhengping RoadBridge Constr | BTG Hotels vs. Maxvision Technology Corp |
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 Premium Stories module to follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope.
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