Correlation Between Marssenger Kitchenware and Peoples Insurance
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By analyzing existing cross correlation between Marssenger Kitchenware Co and Peoples Insurance of, you can compare the effects of market volatilities on Marssenger Kitchenware and Peoples Insurance 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 Peoples Insurance. Check out your portfolio center. Please also check ongoing floating volatility patterns of Marssenger Kitchenware and Peoples Insurance.
Diversification Opportunities for Marssenger Kitchenware and Peoples Insurance
0.82 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Marssenger and Peoples is 0.82. Overlapping area represents the amount of risk that can be diversified away by holding Marssenger Kitchenware Co and Peoples Insurance of in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Peoples Insurance 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 Peoples Insurance. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Peoples Insurance has no effect on the direction of Marssenger Kitchenware i.e., Marssenger Kitchenware and Peoples Insurance go up and down completely randomly.
Pair Corralation between Marssenger Kitchenware and Peoples Insurance
Assuming the 90 days trading horizon Marssenger Kitchenware Co is expected to under-perform the Peoples Insurance. In addition to that, Marssenger Kitchenware is 1.99 times more volatile than Peoples Insurance of. It trades about -0.03 of its total potential returns per unit of risk. Peoples Insurance of is currently generating about 0.06 per unit of volatility. If you would invest 515.00 in Peoples Insurance of on September 28, 2024 and sell it today you would earn a total of 252.00 from holding Peoples Insurance of or generate 48.93% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Marssenger Kitchenware Co vs. Peoples Insurance of
Performance |
| Timeline |
| Marssenger Kitchenware |
| Peoples Insurance |
Marssenger Kitchenware and Peoples Insurance Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Marssenger Kitchenware and Peoples Insurance
The main advantage of trading using opposite Marssenger Kitchenware and Peoples Insurance positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Marssenger Kitchenware position performs unexpectedly, Peoples Insurance 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 Peoples Insurance will offset losses from the drop in Peoples Insurance's long position.| Marssenger Kitchenware vs. Agricultural Bank of | Marssenger Kitchenware vs. Industrial and Commercial | Marssenger Kitchenware vs. Bank of China | Marssenger Kitchenware vs. China Construction Bank |
| Peoples Insurance vs. Industrial and Commercial | Peoples Insurance vs. Agricultural Bank of | Peoples Insurance vs. China Construction Bank | Peoples Insurance vs. Bank of China |
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 Bollinger Bands module to use Bollinger Bands indicator to analyze target price for a given investing horizon.
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