Correlation Between Marssenger Kitchenware and Lepu Medical
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By analyzing existing cross correlation between Marssenger Kitchenware Co and Lepu Medical Tech, you can compare the effects of market volatilities on Marssenger Kitchenware and Lepu Medical 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 Marssenger Kitchenware with a short position of Lepu Medical. Check out your portfolio center. Please also check ongoing floating volatility patterns of Marssenger Kitchenware and Lepu Medical.
Diversification Opportunities for Marssenger Kitchenware and Lepu Medical
0.65 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Marssenger and Lepu is 0.65. Overlapping area represents the amount of risk that can be diversified away by holding Marssenger Kitchenware Co and Lepu Medical Tech in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Lepu Medical Tech and Marssenger Kitchenware 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 Marssenger Kitchenware Co are associated (or correlated) with Lepu Medical. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Lepu Medical Tech has no effect on the direction of Marssenger Kitchenware i.e., Marssenger Kitchenware and Lepu Medical go up and down completely randomly.
Pair Corralation between Marssenger Kitchenware and Lepu Medical
Assuming the 90 days trading horizon Marssenger Kitchenware Co is expected to under-perform the Lepu Medical. In addition to that, Marssenger Kitchenware is 1.69 times more volatile than Lepu Medical Tech. It trades about -0.3 of its total potential returns per unit of risk. Lepu Medical Tech is currently generating about -0.26 per unit of volatility. If you would invest 1,202 in Lepu Medical Tech on October 17, 2024 and sell it today you would lose (112.00) from holding Lepu Medical Tech or give up 9.32% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Marssenger Kitchenware Co vs. Lepu Medical Tech
Performance |
| Timeline |
| Marssenger Kitchenware |
| Lepu Medical Tech |
Marssenger Kitchenware and Lepu Medical Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Marssenger Kitchenware and Lepu Medical
The main advantage of trading using opposite Marssenger Kitchenware and Lepu Medical positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Marssenger Kitchenware position performs unexpectedly, Lepu Medical 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 Lepu Medical will offset losses from the drop in Lepu Medical's long position.| Marssenger Kitchenware vs. Tjk Machinery Tianjin | Marssenger Kitchenware vs. Sinomach General Machinery | Marssenger Kitchenware vs. Shaanxi Broadcast TV | Marssenger Kitchenware vs. Sunny Loan Top |
| Lepu Medical vs. Wuhan Yangtze Communication | Lepu Medical vs. Dosilicon Co | Lepu Medical vs. Jinsanjiang Silicon Material | Lepu Medical vs. Zhejiang JIULI Hi tech |
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 Stocks Directory module to find actively traded stocks across global markets.
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