Correlation Between Poly Real and Northking Information
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By analyzing existing cross correlation between Poly Real Estate and Northking Information Technology, you can compare the effects of market volatilities on Poly Real and Northking Information 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 Poly Real with a short position of Northking Information. Check out your portfolio center. Please also check ongoing floating volatility patterns of Poly Real and Northking Information.
Diversification Opportunities for Poly Real and Northking Information
0.81 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Poly and Northking is 0.81. Overlapping area represents the amount of risk that can be diversified away by holding Poly Real Estate and Northking Information Technolo in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Northking Information and Poly Real 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 Poly Real Estate are associated (or correlated) with Northking Information. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Northking Information has no effect on the direction of Poly Real i.e., Poly Real and Northking Information go up and down completely randomly.
Pair Corralation between Poly Real and Northking Information
Assuming the 90 days trading horizon Poly Real Estate is expected to under-perform the Northking Information. But the stock apears to be less risky and, when comparing its historical volatility, Poly Real Estate is 1.27 times less risky than Northking Information. The stock trades about -0.09 of its potential returns per unit of risk. The Northking Information Technology is currently generating about 0.26 of returns per unit of risk over similar time horizon. If you would invest 1,316 in Northking Information Technology on November 6, 2024 and sell it today you would earn a total of 116.00 from holding Northking Information Technology or generate 8.81% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Poly Real Estate vs. Northking Information Technolo
Performance |
| Timeline |
| Poly Real Estate |
| Northking Information |
Poly Real and Northking Information Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Poly Real and Northking Information
The main advantage of trading using opposite Poly Real and Northking Information positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Poly Real position performs unexpectedly, Northking Information 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 Northking Information will offset losses from the drop in Northking Information's long position.| Poly Real vs. V V Food | Poly Real vs. ROPEOK Technology Group | Poly Real vs. Jiajia Food Group | Poly Real vs. Namchow 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 Money Managers module to screen money managers from public funds and ETFs managed around the world.
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