Correlation Between 159005 and Inner Mongolia
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By analyzing existing cross correlation between 159005 and Inner Mongolia Furui, you can compare the effects of market volatilities on 159005 and Inner Mongolia 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 159005 with a short position of Inner Mongolia. Check out your portfolio center. Please also check ongoing floating volatility patterns of 159005 and Inner Mongolia.
Diversification Opportunities for 159005 and Inner Mongolia
-0.07 | Correlation Coefficient |
Good diversification
The 3 months correlation between 159005 and Inner is -0.07. Overlapping area represents the amount of risk that can be diversified away by holding 159005 and Inner Mongolia Furui in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Inner Mongolia Furui and 159005 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 159005 are associated (or correlated) with Inner Mongolia. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Inner Mongolia Furui has no effect on the direction of 159005 i.e., 159005 and Inner Mongolia go up and down completely randomly.
Pair Corralation between 159005 and Inner Mongolia
Assuming the 90 days trading horizon 159005 is expected to generate 0.01 times more return on investment than Inner Mongolia. However, 159005 is 181.01 times less risky than Inner Mongolia. It trades about 0.21 of its potential returns per unit of risk. Inner Mongolia Furui is currently generating about -0.25 per unit of risk. If you would invest 9,987 in 159005 on August 29, 2024 and sell it today you would earn a total of 13.00 from holding 159005 or generate 0.13% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
159005 vs. Inner Mongolia Furui
Performance |
| Timeline |
| 159005 |
| Inner Mongolia Furui |
159005 and Inner Mongolia Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with 159005 and Inner Mongolia
The main advantage of trading using opposite 159005 and Inner Mongolia positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if 159005 position performs unexpectedly, Inner Mongolia 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 Inner Mongolia will offset losses from the drop in Inner Mongolia's long position.| 159005 vs. Shenzhen MTC Co | 159005 vs. Ming Yang Smart | 159005 vs. Changzhou Almaden Co | 159005 vs. Loctek Ergonomic Technology |
| Inner Mongolia vs. Industrial and Commercial | Inner Mongolia vs. Agricultural Bank of | Inner Mongolia vs. China Construction Bank | Inner Mongolia vs. Bank of China |
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 Equity Valuation module to check real value of public entities based on technical and fundamental data.
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