Correlation Between East Money and ButOne Information
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By analyzing existing cross correlation between East Money Information and ButOne Information Corp, you can compare the effects of market volatilities on East Money and ButOne Information 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 ButOne Information. Check out your portfolio center. Please also check ongoing floating volatility patterns of East Money and ButOne Information.
Diversification Opportunities for East Money and ButOne Information
0.54 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between East and ButOne is 0.54. Overlapping area represents the amount of risk that can be diversified away by holding East Money Information and ButOne Information Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on ButOne Information Corp 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 ButOne Information. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ButOne Information Corp has no effect on the direction of East Money i.e., East Money and ButOne Information go up and down completely randomly.
Pair Corralation between East Money and ButOne Information
Assuming the 90 days trading horizon East Money Information is expected to generate 1.14 times more return on investment than ButOne Information. However, East Money is 1.14 times more volatile than ButOne Information Corp. It trades about 0.08 of its potential returns per unit of risk. ButOne Information Corp is currently generating about 0.07 per unit of risk. If you would invest 1,309 in East Money Information on November 3, 2024 and sell it today you would earn a total of 985.00 from holding East Money Information or generate 75.25% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
East Money Information vs. ButOne Information Corp
Performance |
| Timeline |
| East Money Information |
| ButOne Information Corp |
East Money and ButOne Information Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with East Money and ButOne Information
The main advantage of trading using opposite East Money and ButOne Information positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if East Money position performs unexpectedly, ButOne Information 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 ButOne Information will offset losses from the drop in ButOne Information's long position.| East Money vs. HengFeng Information Technology | East Money vs. Dawning Information Industry | East Money vs. Invengo Information Technology | East Money vs. Wonders Information |
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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 Investing Opportunities module to build portfolios using our predefined set of ideas and optimize them against your investing preferences.
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