Correlation Between Loctek Ergonomic and Sinotrans
Specify exactly 2 symbols:
By analyzing existing cross correlation between Loctek Ergonomic Technology and Sinotrans Ltd Class, you can compare the effects of market volatilities on Loctek Ergonomic and Sinotrans 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 Sinotrans. Check out your portfolio center. Please also check ongoing floating volatility patterns of Loctek Ergonomic and Sinotrans.
Diversification Opportunities for Loctek Ergonomic and Sinotrans
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Loctek and Sinotrans is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Loctek Ergonomic Technology and Sinotrans Ltd Class in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Sinotrans Class 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 Sinotrans. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Sinotrans Class has no effect on the direction of Loctek Ergonomic i.e., Loctek Ergonomic and Sinotrans go up and down completely randomly.
Pair Corralation between Loctek Ergonomic and Sinotrans
If you would invest 0.00 in Sinotrans Ltd Class on October 15, 2024 and sell it today you would earn a total of 0.00 from holding Sinotrans Ltd Class or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 5.0% |
| Values | Daily Returns |
Loctek Ergonomic Technology vs. Sinotrans Ltd Class
Performance |
| Timeline |
| Loctek Ergonomic Tec |
| Sinotrans Class |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Loctek Ergonomic and Sinotrans Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Loctek Ergonomic and Sinotrans
The main advantage of trading using opposite Loctek Ergonomic and Sinotrans positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Loctek Ergonomic position performs unexpectedly, Sinotrans 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 Sinotrans will offset losses from the drop in Sinotrans' long position.| Loctek Ergonomic vs. Jinxiandai Information Industry | Loctek Ergonomic vs. Shenzhen SDG Information | Loctek Ergonomic vs. Ningxia Younglight Chemicals | Loctek Ergonomic vs. Dawning Information Industry |
| Sinotrans vs. Nanjing Putian Telecommunications | Sinotrans vs. Guangxi Wuzhou Communications | Sinotrans vs. China Mobile Limited | Sinotrans vs. China National Software |
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 Global Correlations module to find global opportunities by holding instruments from different markets.
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