Correlation Between Loctek Ergonomic and Inner Mongolia
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By analyzing existing cross correlation between Loctek Ergonomic Technology and Inner Mongolia Furui, you can compare the effects of market volatilities on Loctek Ergonomic 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 Loctek Ergonomic with a short position of Inner Mongolia. Check out your portfolio center. Please also check ongoing floating volatility patterns of Loctek Ergonomic and Inner Mongolia.
Diversification Opportunities for Loctek Ergonomic and Inner Mongolia
0.29 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Loctek and Inner is 0.29. Overlapping area represents the amount of risk that can be diversified away by holding Loctek Ergonomic Technology 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 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 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 Loctek Ergonomic i.e., Loctek Ergonomic and Inner Mongolia go up and down completely randomly.
Pair Corralation between Loctek Ergonomic and Inner Mongolia
Assuming the 90 days trading horizon Loctek Ergonomic Technology is expected to generate 0.48 times more return on investment than Inner Mongolia. However, Loctek Ergonomic Technology is 2.09 times less risky than Inner Mongolia. It trades about 0.2 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 1,638 in Loctek Ergonomic Technology on August 29, 2024 and sell it today you would earn a total of 170.00 from holding Loctek Ergonomic Technology or generate 10.38% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Loctek Ergonomic Technology vs. Inner Mongolia Furui
Performance |
| Timeline |
| Loctek Ergonomic Tec |
| Inner Mongolia Furui |
Loctek Ergonomic and Inner Mongolia Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Loctek Ergonomic and Inner Mongolia
The main advantage of trading using opposite Loctek Ergonomic and Inner Mongolia positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Loctek Ergonomic 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.| Loctek Ergonomic vs. Everjoy Health Group | Loctek Ergonomic vs. PKU HealthCare Corp | Loctek Ergonomic vs. Meinian Onehealth Healthcare | Loctek Ergonomic vs. Anhui Deli Household |
| 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 Forecasting module to use basic forecasting models to generate price predictions and determine price momentum.
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