Correlation Between Linktel Technologies and PetroChina
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By analyzing existing cross correlation between Linktel Technologies Co and PetroChina Co Ltd, you can compare the effects of market volatilities on Linktel Technologies and PetroChina 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 Linktel Technologies with a short position of PetroChina. Check out your portfolio center. Please also check ongoing floating volatility patterns of Linktel Technologies and PetroChina.
Diversification Opportunities for Linktel Technologies and PetroChina
0.01 | Correlation Coefficient |
Significant diversification
The 3 months correlation between Linktel and PetroChina is 0.01. Overlapping area represents the amount of risk that can be diversified away by holding Linktel Technologies Co and PetroChina Co Ltd in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on PetroChina and Linktel Technologies 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 Linktel Technologies Co are associated (or correlated) with PetroChina. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of PetroChina has no effect on the direction of Linktel Technologies i.e., Linktel Technologies and PetroChina go up and down completely randomly.
Pair Corralation between Linktel Technologies and PetroChina
Assuming the 90 days trading horizon Linktel Technologies Co is expected to generate 2.76 times more return on investment than PetroChina. However, Linktel Technologies is 2.76 times more volatile than PetroChina Co Ltd. It trades about 0.07 of its potential returns per unit of risk. PetroChina Co Ltd is currently generating about 0.07 per unit of risk. If you would invest 2,301 in Linktel Technologies Co on October 15, 2024 and sell it today you would earn a total of 4,474 from holding Linktel Technologies Co or generate 194.44% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Linktel Technologies Co vs. PetroChina Co Ltd
Performance |
| Timeline |
| Linktel Technologies |
| PetroChina |
Linktel Technologies and PetroChina Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Linktel Technologies and PetroChina
The main advantage of trading using opposite Linktel Technologies and PetroChina positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Linktel Technologies position performs unexpectedly, PetroChina 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 PetroChina will offset losses from the drop in PetroChina's long position.| Linktel Technologies vs. Do Fluoride Chemicals Co | Linktel Technologies vs. Luyin Investment Group | Linktel Technologies vs. China World Trade | Linktel Technologies vs. Kunwu Jiuding Investment |
| PetroChina vs. Qingdao Foods Co | PetroChina vs. Hubeiyichang Transportation Group | PetroChina vs. Guangdong Wens Foodstuff | PetroChina vs. Youyou Foods Co |
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 Transaction History module to view history of all your transactions and understand their impact on performance.
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