Correlation Between Sanbo Hospital and Easyhome New
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By analyzing existing cross correlation between Sanbo Hospital Management and Easyhome New Retail, you can compare the effects of market volatilities on Sanbo Hospital 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 Sanbo Hospital with a short position of Easyhome New. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sanbo Hospital and Easyhome New.
Diversification Opportunities for Sanbo Hospital and Easyhome New
-0.12 | Correlation Coefficient |
Good diversification
The 3 months correlation between Sanbo and Easyhome is -0.12. Overlapping area represents the amount of risk that can be diversified away by holding Sanbo Hospital Management 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 Sanbo Hospital 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 Sanbo Hospital Management 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 Sanbo Hospital i.e., Sanbo Hospital and Easyhome New go up and down completely randomly.
Pair Corralation between Sanbo Hospital and Easyhome New
Assuming the 90 days trading horizon Sanbo Hospital Management is expected to generate 1.67 times more return on investment than Easyhome New. However, Sanbo Hospital is 1.67 times more volatile than Easyhome New Retail. It trades about 0.04 of its potential returns per unit of risk. Easyhome New Retail is currently generating about 0.0 per unit of risk. If you would invest 2,960 in Sanbo Hospital Management on October 27, 2024 and sell it today you would earn a total of 1,550 from holding Sanbo Hospital Management or generate 52.36% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 87.97% |
| Values | Daily Returns |
Sanbo Hospital Management vs. Easyhome New Retail
Performance |
| Timeline |
| Sanbo Hospital Management |
| Easyhome New Retail |
Sanbo Hospital and Easyhome New Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Sanbo Hospital and Easyhome New
The main advantage of trading using opposite Sanbo Hospital and Easyhome New positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sanbo Hospital 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.| Sanbo Hospital vs. Bank of China | Sanbo Hospital vs. Kweichow Moutai Co | Sanbo Hospital vs. PetroChina Co Ltd | Sanbo Hospital vs. Bank of Communications |
| Easyhome New vs. Zoje Resources Investment | Easyhome New vs. Xiamen Insight Investment | Easyhome New vs. Guangzhou Dongfang Hotel | Easyhome New vs. Xiandai Investment 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 Sync Your Broker module to sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors..
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