Correlation Between Loctek Ergonomic and Qilu Bank
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By analyzing existing cross correlation between Loctek Ergonomic Technology and Qilu Bank Co, you can compare the effects of market volatilities on Loctek Ergonomic and Qilu Bank 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 Qilu Bank. Check out your portfolio center. Please also check ongoing floating volatility patterns of Loctek Ergonomic and Qilu Bank.
Diversification Opportunities for Loctek Ergonomic and Qilu Bank
-0.58 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Loctek and Qilu is -0.58. Overlapping area represents the amount of risk that can be diversified away by holding Loctek Ergonomic Technology and Qilu Bank Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Qilu Bank 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 Qilu Bank. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Qilu Bank has no effect on the direction of Loctek Ergonomic i.e., Loctek Ergonomic and Qilu Bank go up and down completely randomly.
Pair Corralation between Loctek Ergonomic and Qilu Bank
Assuming the 90 days trading horizon Loctek Ergonomic is expected to generate 1.32 times less return on investment than Qilu Bank. In addition to that, Loctek Ergonomic is 1.83 times more volatile than Qilu Bank Co. It trades about 0.03 of its total potential returns per unit of risk. Qilu Bank Co is currently generating about 0.06 per unit of volatility. If you would invest 381.00 in Qilu Bank Co on November 5, 2024 and sell it today you would earn a total of 197.00 from holding Qilu Bank Co or generate 51.71% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Loctek Ergonomic Technology vs. Qilu Bank Co
Performance |
| Timeline |
| Loctek Ergonomic Tec |
| Qilu Bank |
Loctek Ergonomic and Qilu Bank Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Loctek Ergonomic and Qilu Bank
The main advantage of trading using opposite Loctek Ergonomic and Qilu Bank positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Loctek Ergonomic position performs unexpectedly, Qilu Bank 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 Qilu Bank will offset losses from the drop in Qilu Bank's long position.| Loctek Ergonomic vs. Beingmate Baby Child | Loctek Ergonomic vs. Huatian Hotel Group | Loctek Ergonomic vs. Fujian Wanchen Biotechnology | Loctek Ergonomic vs. China National Software |
| Qilu Bank vs. Sharetronic Data Technology | Qilu Bank vs. Sichuan Yahua Industrial | Qilu Bank vs. Dirui Industrial Co | Qilu Bank vs. Zhengzhou Coal Mining |
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 Idea Analyzer module to analyze all characteristics, volatility and risk-adjusted return of Macroaxis ideas.
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