Correlation Between Loctek Ergonomic and ShuYu Civilian
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By analyzing existing cross correlation between Loctek Ergonomic Technology and ShuYu Civilian Pharmacy, you can compare the effects of market volatilities on Loctek Ergonomic and ShuYu Civilian 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 ShuYu Civilian. Check out your portfolio center. Please also check ongoing floating volatility patterns of Loctek Ergonomic and ShuYu Civilian.
Diversification Opportunities for Loctek Ergonomic and ShuYu Civilian
0.65 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Loctek and ShuYu is 0.65. Overlapping area represents the amount of risk that can be diversified away by holding Loctek Ergonomic Technology and ShuYu Civilian Pharmacy in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on ShuYu Civilian Pharmacy 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 ShuYu Civilian. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ShuYu Civilian Pharmacy has no effect on the direction of Loctek Ergonomic i.e., Loctek Ergonomic and ShuYu Civilian go up and down completely randomly.
Pair Corralation between Loctek Ergonomic and ShuYu Civilian
Assuming the 90 days trading horizon Loctek Ergonomic Technology is expected to generate 0.77 times more return on investment than ShuYu Civilian. However, Loctek Ergonomic Technology is 1.3 times less risky than ShuYu Civilian. It trades about -0.04 of its potential returns per unit of risk. ShuYu Civilian Pharmacy is currently generating about -0.1 per unit of risk. If you would invest 1,608 in Loctek Ergonomic Technology on October 17, 2024 and sell it today you would lose (79.00) from holding Loctek Ergonomic Technology or give up 4.91% 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. ShuYu Civilian Pharmacy
Performance |
| Timeline |
| Loctek Ergonomic Tec |
| ShuYu Civilian Pharmacy |
Loctek Ergonomic and ShuYu Civilian Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Loctek Ergonomic and ShuYu Civilian
The main advantage of trading using opposite Loctek Ergonomic and ShuYu Civilian positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Loctek Ergonomic position performs unexpectedly, ShuYu Civilian 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 ShuYu Civilian will offset losses from the drop in ShuYu Civilian's long position.| Loctek Ergonomic vs. Chahua Modern Housewares | Loctek Ergonomic vs. Kuang Chi Technologies | Loctek Ergonomic vs. Fiberhome Telecommunication Technologies | Loctek Ergonomic vs. Sichuan Jinshi Technology |
| ShuYu Civilian vs. Ming Yang Smart | ShuYu Civilian vs. 159681 | ShuYu Civilian vs. 159005 | ShuYu Civilian vs. Loctek Ergonomic 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 Holdings module to check your current holdings and cash postion to detemine if your portfolio needs rebalancing.
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