Correlation Between Imeik Technology and Peoples Insurance
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By analyzing existing cross correlation between Imeik Technology Development and Peoples Insurance of, you can compare the effects of market volatilities on Imeik Technology 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 Imeik Technology with a short position of Peoples Insurance. Check out your portfolio center. Please also check ongoing floating volatility patterns of Imeik Technology and Peoples Insurance.
Diversification Opportunities for Imeik Technology and Peoples Insurance
0.65 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Imeik and Peoples is 0.65. Overlapping area represents the amount of risk that can be diversified away by holding Imeik Technology Development and Peoples Insurance of in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Peoples Insurance and Imeik Technology 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 Imeik Technology Development 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 Imeik Technology i.e., Imeik Technology and Peoples Insurance go up and down completely randomly.
Pair Corralation between Imeik Technology and Peoples Insurance
Assuming the 90 days trading horizon Imeik Technology Development is expected to under-perform the Peoples Insurance. In addition to that, Imeik Technology is 1.1 times more volatile than Peoples Insurance of. It trades about -0.34 of its total potential returns per unit of risk. Peoples Insurance of is currently generating about -0.17 per unit of volatility. If you would invest 738.00 in Peoples Insurance of on October 20, 2024 and sell it today you would lose (54.00) from holding Peoples Insurance of or give up 7.32% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Imeik Technology Development vs. Peoples Insurance of
Performance |
| Timeline |
| Imeik Technology Dev |
| Peoples Insurance |
Imeik Technology and Peoples Insurance Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Imeik Technology and Peoples Insurance
The main advantage of trading using opposite Imeik Technology and Peoples Insurance positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Imeik Technology 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.| Imeik Technology vs. Silkroad Visual Technology | Imeik Technology vs. Jiangsu Broadcasting Cable | Imeik Technology vs. Runjian Communication Co | Imeik Technology vs. Unisplendour Corp |
| Peoples Insurance vs. Keeson Technology Corp | Peoples Insurance vs. Olympic Circuit Technology | Peoples Insurance vs. Shanghai Action Education | Peoples Insurance vs. Jiangsu Phoenix Publishing |
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 Investing Opportunities module to build portfolios using our predefined set of ideas and optimize them against your investing preferences.
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