Correlation Between Super Dragon and Marssenger Kitchenware
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By analyzing existing cross correlation between Super Dragon Engineering Plastics and Marssenger Kitchenware Co, you can compare the effects of market volatilities on Super Dragon and Marssenger Kitchenware 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 Super Dragon with a short position of Marssenger Kitchenware. Check out your portfolio center. Please also check ongoing floating volatility patterns of Super Dragon and Marssenger Kitchenware.
Diversification Opportunities for Super Dragon and Marssenger Kitchenware
0.9 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Super and Marssenger is 0.9. Overlapping area represents the amount of risk that can be diversified away by holding Super Dragon Engineering Plast and Marssenger Kitchenware Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Marssenger Kitchenware and Super Dragon 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 Super Dragon Engineering Plastics are associated (or correlated) with Marssenger Kitchenware. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Marssenger Kitchenware has no effect on the direction of Super Dragon i.e., Super Dragon and Marssenger Kitchenware go up and down completely randomly.
Pair Corralation between Super Dragon and Marssenger Kitchenware
Assuming the 90 days trading horizon Super Dragon Engineering Plastics is expected to generate 0.94 times more return on investment than Marssenger Kitchenware. However, Super Dragon Engineering Plastics is 1.06 times less risky than Marssenger Kitchenware. It trades about 0.18 of its potential returns per unit of risk. Marssenger Kitchenware Co is currently generating about 0.14 per unit of risk. If you would invest 3,700 in Super Dragon Engineering Plastics on September 12, 2024 and sell it today you would earn a total of 461.00 from holding Super Dragon Engineering Plastics or generate 12.46% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Super Dragon Engineering Plast vs. Marssenger Kitchenware Co
Performance |
| Timeline |
| Super Dragon Enginee |
| Marssenger Kitchenware |
Super Dragon and Marssenger Kitchenware Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Super Dragon and Marssenger Kitchenware
The main advantage of trading using opposite Super Dragon and Marssenger Kitchenware positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Super Dragon position performs unexpectedly, Marssenger Kitchenware 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 Marssenger Kitchenware will offset losses from the drop in Marssenger Kitchenware's long position.| Super Dragon vs. Agricultural Bank of | Super Dragon vs. Industrial and Commercial | Super Dragon vs. Bank of China | Super Dragon vs. PetroChina Co Ltd |
| Marssenger Kitchenware vs. Lutian Machinery Co | Marssenger Kitchenware vs. PetroChina Co Ltd | Marssenger Kitchenware vs. Bank of China | Marssenger Kitchenware vs. Gansu Jiu Steel |
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 Commodity Directory module to find actively traded commodities issued by global exchanges.
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