Correlation Between SSAW Hotels and Easyhome New
Specify exactly 2 symbols:
By analyzing existing cross correlation between SSAW Hotels Resorts and Easyhome New Retail, you can compare the effects of market volatilities on SSAW Hotels and Easyhome New 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 SSAW Hotels with a short position of Easyhome New. Check out your portfolio center. Please also check ongoing floating volatility patterns of SSAW Hotels and Easyhome New.
Diversification Opportunities for SSAW Hotels and Easyhome New
-0.2 | Correlation Coefficient |
Good diversification
The 3 months correlation between SSAW and Easyhome is -0.2. Overlapping area represents the amount of risk that can be diversified away by holding SSAW Hotels Resorts and Easyhome New Retail in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Easyhome New Retail and SSAW Hotels 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 SSAW Hotels Resorts are associated (or correlated) with Easyhome New. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Easyhome New Retail has no effect on the direction of SSAW Hotels i.e., SSAW Hotels and Easyhome New go up and down completely randomly.
Pair Corralation between SSAW Hotels and Easyhome New
Assuming the 90 days trading horizon SSAW Hotels Resorts is expected to under-perform the Easyhome New. But the stock apears to be less risky and, when comparing its historical volatility, SSAW Hotels Resorts is 1.51 times less risky than Easyhome New. The stock trades about -0.11 of its potential returns per unit of risk. The Easyhome New Retail is currently generating about -0.03 of returns per unit of risk over similar time horizon. If you would invest 373.00 in Easyhome New Retail on October 24, 2024 and sell it today you would lose (18.00) from holding Easyhome New Retail or give up 4.83% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
SSAW Hotels Resorts vs. Easyhome New Retail
Performance |
| Timeline |
| SSAW Hotels Resorts |
| Easyhome New Retail |
SSAW Hotels and Easyhome New Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with SSAW Hotels and Easyhome New
The main advantage of trading using opposite SSAW Hotels and Easyhome New positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if SSAW Hotels position performs unexpectedly, Easyhome New 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 Easyhome New will offset losses from the drop in Easyhome New's long position.| SSAW Hotels vs. Nuode Investment Co | SSAW Hotels vs. Nanxing Furniture Machinery | SSAW Hotels vs. Shanghai Yaoji Playing | SSAW Hotels vs. Zhongrun Resources Investment |
| Easyhome New vs. Anhui Gujing Distillery | Easyhome New vs. V V Food | Easyhome New vs. Ye Chiu Metal | Easyhome New vs. Jiajia Food Group |
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 Sign In To Macroaxis module to sign in to explore Macroaxis' wealth optimization platform and fintech modules.
Other Complementary Tools
| Price Exposure Probability Analyze equity upside and downside potential for a given time horizon across multiple markets | |
| Investing Opportunities Build portfolios using our predefined set of ideas and optimize them against your investing preferences | |
| Alpha Finder Use alpha and beta coefficients to find investment opportunities after accounting for the risk | |
| Watchlist Optimization Optimize watchlists to build efficient portfolios or rebalance existing positions based on the mean-variance optimization algorithm | |
| Portfolio Volatility Check portfolio volatility and analyze historical return density to properly model market risk |