Correlation Between Contemporary Amperex and DO Home
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By analyzing existing cross correlation between Contemporary Amperex Technology and DO Home Collection, you can compare the effects of market volatilities on Contemporary Amperex and DO Home 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 Contemporary Amperex with a short position of DO Home. Check out your portfolio center. Please also check ongoing floating volatility patterns of Contemporary Amperex and DO Home.
Diversification Opportunities for Contemporary Amperex and DO Home
0.61 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Contemporary and 002798 is 0.61. Overlapping area represents the amount of risk that can be diversified away by holding Contemporary Amperex Technolog and DO Home Collection in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on DO Home Collection and Contemporary Amperex 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 Contemporary Amperex Technology are associated (or correlated) with DO Home. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of DO Home Collection has no effect on the direction of Contemporary Amperex i.e., Contemporary Amperex and DO Home go up and down completely randomly.
Pair Corralation between Contemporary Amperex and DO Home
Assuming the 90 days trading horizon Contemporary Amperex Technology is expected to generate 0.54 times more return on investment than DO Home. However, Contemporary Amperex Technology is 1.84 times less risky than DO Home. It trades about 0.02 of its potential returns per unit of risk. DO Home Collection is currently generating about -0.05 per unit of risk. If you would invest 25,640 in Contemporary Amperex Technology on November 4, 2024 and sell it today you would earn a total of 60.00 from holding Contemporary Amperex Technology or generate 0.23% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Contemporary Amperex Technolog vs. DO Home Collection
Performance |
| Timeline |
| Contemporary Amperex |
| DO Home Collection |
Contemporary Amperex and DO Home Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Contemporary Amperex and DO Home
The main advantage of trading using opposite Contemporary Amperex and DO Home positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Contemporary Amperex position performs unexpectedly, DO Home 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 DO Home will offset losses from the drop in DO Home's long position.| Contemporary Amperex vs. Shenwu Energy Saving | Contemporary Amperex vs. HeNan Splendor Science | Contemporary Amperex vs. Guosheng Financial Holding | Contemporary Amperex vs. Jiangsu Yueda Investment |
| DO Home vs. Orinko Advanced Plastics | DO Home vs. Shandong Kuntai New | DO Home vs. Masterwork Machinery | DO Home vs. Linzhou Heavy Machinery |
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 Content Syndication module to quickly integrate customizable finance content to your own investment portal.
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