Correlation Between Lens Technology and Biwin Storage
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By analyzing existing cross correlation between Lens Technology Co and Biwin Storage Technology, you can compare the effects of market volatilities on Lens Technology and Biwin Storage 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 Lens Technology with a short position of Biwin Storage. Check out your portfolio center. Please also check ongoing floating volatility patterns of Lens Technology and Biwin Storage.
Diversification Opportunities for Lens Technology and Biwin Storage
0.28 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Lens and Biwin is 0.28. Overlapping area represents the amount of risk that can be diversified away by holding Lens Technology Co and Biwin Storage Technology in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Biwin Storage Technology and Lens 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 Lens Technology Co are associated (or correlated) with Biwin Storage. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Biwin Storage Technology has no effect on the direction of Lens Technology i.e., Lens Technology and Biwin Storage go up and down completely randomly.
Pair Corralation between Lens Technology and Biwin Storage
Assuming the 90 days trading horizon Lens Technology Co is expected to generate 2.03 times more return on investment than Biwin Storage. However, Lens Technology is 2.03 times more volatile than Biwin Storage Technology. It trades about 0.18 of its potential returns per unit of risk. Biwin Storage Technology is currently generating about -0.06 per unit of risk. If you would invest 2,196 in Lens Technology Co on October 28, 2024 and sell it today you would earn a total of 455.00 from holding Lens Technology Co or generate 20.72% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Lens Technology Co vs. Biwin Storage Technology
Performance |
| Timeline |
| Lens Technology |
| Biwin Storage Technology |
Lens Technology and Biwin Storage Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Lens Technology and Biwin Storage
The main advantage of trading using opposite Lens Technology and Biwin Storage positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Lens Technology position performs unexpectedly, Biwin Storage 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 Biwin Storage will offset losses from the drop in Biwin Storage's long position.| Lens Technology vs. StarPower Semiconductor | Lens Technology vs. Jiangnan Mould Plastic | Lens Technology vs. Yuanjie Semiconductor Technology | Lens Technology vs. GRINM Semiconductor Materials |
| Biwin Storage vs. Cloud Live Technology | Biwin Storage vs. Nanjing Putian Telecommunications | Biwin Storage vs. Shenzhen Coship Electronics | Biwin Storage vs. Shenzhen Hifuture Electric |
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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