Correlation Between Loctek Ergonomic and Taiji Computer
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By analyzing existing cross correlation between Loctek Ergonomic Technology and Taiji Computer Corp, you can compare the effects of market volatilities on Loctek Ergonomic and Taiji Computer 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 Loctek Ergonomic with a short position of Taiji Computer. Check out your portfolio center. Please also check ongoing floating volatility patterns of Loctek Ergonomic and Taiji Computer.
Diversification Opportunities for Loctek Ergonomic and Taiji Computer
0.77 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Loctek and Taiji is 0.77. Overlapping area represents the amount of risk that can be diversified away by holding Loctek Ergonomic Technology and Taiji Computer Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Taiji Computer Corp and Loctek Ergonomic 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 Loctek Ergonomic Technology are associated (or correlated) with Taiji Computer. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Taiji Computer Corp has no effect on the direction of Loctek Ergonomic i.e., Loctek Ergonomic and Taiji Computer go up and down completely randomly.
Pair Corralation between Loctek Ergonomic and Taiji Computer
Assuming the 90 days trading horizon Loctek Ergonomic Technology is expected to under-perform the Taiji Computer. In addition to that, Loctek Ergonomic is 1.2 times more volatile than Taiji Computer Corp. It trades about -0.14 of its total potential returns per unit of risk. Taiji Computer Corp is currently generating about -0.15 per unit of volatility. If you would invest 2,648 in Taiji Computer Corp on September 25, 2024 and sell it today you would lose (187.00) from holding Taiji Computer Corp or give up 7.06% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Loctek Ergonomic Technology vs. Taiji Computer Corp
Performance |
| Timeline |
| Loctek Ergonomic Tec |
| Taiji Computer Corp |
Loctek Ergonomic and Taiji Computer Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Loctek Ergonomic and Taiji Computer
The main advantage of trading using opposite Loctek Ergonomic and Taiji Computer positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Loctek Ergonomic position performs unexpectedly, Taiji Computer 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 Taiji Computer will offset losses from the drop in Taiji Computer's long position.| Loctek Ergonomic vs. Ming Yang Smart | Loctek Ergonomic vs. 159681 | Loctek Ergonomic vs. 159005 | Loctek Ergonomic vs. Yes Optoelectronics Co |
| Taiji Computer vs. Kweichow Moutai Co | Taiji Computer vs. Shenzhen Mindray Bio Medical | Taiji Computer vs. Jiangsu Pacific Quartz | Taiji Computer vs. G bits Network Technology |
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 Portfolio File Import module to quickly import all of your third-party portfolios from your local drive in csv format.
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