Correlation Between East Money and Do Fluoride
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By analyzing existing cross correlation between East Money Information and Do Fluoride Chemicals Co, you can compare the effects of market volatilities on East Money and Do Fluoride 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 East Money with a short position of Do Fluoride. Check out your portfolio center. Please also check ongoing floating volatility patterns of East Money and Do Fluoride.
Diversification Opportunities for East Money and Do Fluoride
0.82 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between East and 002407 is 0.82. Overlapping area represents the amount of risk that can be diversified away by holding East Money Information and Do Fluoride Chemicals Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Do Fluoride Chemicals and East Money 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 East Money Information are associated (or correlated) with Do Fluoride. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Do Fluoride Chemicals has no effect on the direction of East Money i.e., East Money and Do Fluoride go up and down completely randomly.
Pair Corralation between East Money and Do Fluoride
Assuming the 90 days trading horizon East Money Information is expected to generate 1.71 times more return on investment than Do Fluoride. However, East Money is 1.71 times more volatile than Do Fluoride Chemicals Co. It trades about 0.15 of its potential returns per unit of risk. Do Fluoride Chemicals Co is currently generating about 0.03 per unit of risk. If you would invest 1,069 in East Money Information on October 18, 2024 and sell it today you would earn a total of 1,263 from holding East Money Information or generate 118.15% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
East Money Information vs. Do Fluoride Chemicals Co
Performance |
| Timeline |
| East Money Information |
| Do Fluoride Chemicals |
East Money and Do Fluoride Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with East Money and Do Fluoride
The main advantage of trading using opposite East Money and Do Fluoride positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if East Money position performs unexpectedly, Do Fluoride 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 Do Fluoride will offset losses from the drop in Do Fluoride's long position.| East Money vs. Hunan Investment Group | East Money vs. Jinyu Bio Technology Co | East Money vs. Digiwin Software Co | East Money vs. Tianjin Ruixin Technology |
| Do Fluoride vs. East Money Information | Do Fluoride vs. GRINM Semiconductor Materials | Do Fluoride vs. Thinkon Semiconductor Jinzhou | Do Fluoride vs. Suzhou Oriental Semiconductor |
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 CEOs Directory module to screen CEOs from public companies around the world.
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