Correlation Between Harvest Fund and ROPEOK Technology
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By analyzing existing cross correlation between Harvest Fund Management and ROPEOK Technology Group, you can compare the effects of market volatilities on Harvest Fund and ROPEOK Technology 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 Harvest Fund with a short position of ROPEOK Technology. Check out your portfolio center. Please also check ongoing floating volatility patterns of Harvest Fund and ROPEOK Technology.
Diversification Opportunities for Harvest Fund and ROPEOK Technology
-0.31 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Harvest and ROPEOK is -0.31. Overlapping area represents the amount of risk that can be diversified away by holding Harvest Fund Management and ROPEOK Technology Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on ROPEOK Technology and Harvest Fund 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 Harvest Fund Management are associated (or correlated) with ROPEOK Technology. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ROPEOK Technology has no effect on the direction of Harvest Fund i.e., Harvest Fund and ROPEOK Technology go up and down completely randomly.
Pair Corralation between Harvest Fund and ROPEOK Technology
Assuming the 90 days trading horizon Harvest Fund Management is expected to under-perform the ROPEOK Technology. But the stock apears to be less risky and, when comparing its historical volatility, Harvest Fund Management is 7.71 times less risky than ROPEOK Technology. The stock trades about -0.08 of its potential returns per unit of risk. The ROPEOK Technology Group is currently generating about 0.18 of returns per unit of risk over similar time horizon. If you would invest 622.00 in ROPEOK Technology Group on August 30, 2024 and sell it today you would earn a total of 310.00 from holding ROPEOK Technology Group or generate 49.84% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Harvest Fund Management vs. ROPEOK Technology Group
Performance |
| Timeline |
| Harvest Fund Management |
| ROPEOK Technology |
Harvest Fund and ROPEOK Technology Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Harvest Fund and ROPEOK Technology
The main advantage of trading using opposite Harvest Fund and ROPEOK Technology positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Harvest Fund position performs unexpectedly, ROPEOK Technology 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 ROPEOK Technology will offset losses from the drop in ROPEOK Technology's long position.| Harvest Fund vs. Wuhan Hvsen Biotechnology | Harvest Fund vs. Juneyao Airlines | Harvest Fund vs. Henzhen Zhaowei Machinery | Harvest Fund vs. Shandong Sino Agri United |
| ROPEOK Technology vs. Success Electronics | ROPEOK Technology vs. TongFu Microelectronics Co | ROPEOK Technology vs. Puyang Huicheng Electronic | ROPEOK Technology vs. Aurora Optoelectronics 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 Odds Of Bankruptcy module to get analysis of equity chance of financial distress in the next 2 years.
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