Correlation Between Loctek Ergonomic and V V
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By analyzing existing cross correlation between Loctek Ergonomic Technology and V V Food, you can compare the effects of market volatilities on Loctek Ergonomic and V V 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 V V. Check out your portfolio center. Please also check ongoing floating volatility patterns of Loctek Ergonomic and V V.
Diversification Opportunities for Loctek Ergonomic and V V
0.52 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Loctek and 600300 is 0.52. Overlapping area represents the amount of risk that can be diversified away by holding Loctek Ergonomic Technology and V V Food in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on V V Food 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 V V. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of V V Food has no effect on the direction of Loctek Ergonomic i.e., Loctek Ergonomic and V V go up and down completely randomly.
Pair Corralation between Loctek Ergonomic and V V
Assuming the 90 days trading horizon Loctek Ergonomic Technology is expected to under-perform the V V. But the stock apears to be less risky and, when comparing its historical volatility, Loctek Ergonomic Technology is 1.8 times less risky than V V. The stock trades about -0.16 of its potential returns per unit of risk. The V V Food is currently generating about 0.14 of returns per unit of risk over similar time horizon. If you would invest 302.00 in V V Food on September 29, 2024 and sell it today you would earn a total of 35.00 from holding V V Food or generate 11.59% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Loctek Ergonomic Technology vs. V V Food
Performance |
| Timeline |
| Loctek Ergonomic Tec |
| V V Food |
Loctek Ergonomic and V V Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Loctek Ergonomic and V V
The main advantage of trading using opposite Loctek Ergonomic and V V positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Loctek Ergonomic position performs unexpectedly, V V 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 V V will offset losses from the drop in V V's long position.| Loctek Ergonomic vs. Ming Yang Smart | Loctek Ergonomic vs. 159681 | Loctek Ergonomic vs. 159005 | Loctek Ergonomic vs. Yes Optoelectronics Co |
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 Piotroski F Score module to get Piotroski F Score based on the binary analysis strategy of nine different fundamentals.
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