Correlation Between Lotus Health and Inner Mongolia
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By analyzing existing cross correlation between Lotus Health Group and Inner Mongolia Yuan, you can compare the effects of market volatilities on Lotus Health and Inner Mongolia 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 Lotus Health with a short position of Inner Mongolia. Check out your portfolio center. Please also check ongoing floating volatility patterns of Lotus Health and Inner Mongolia.
Diversification Opportunities for Lotus Health and Inner Mongolia
-0.4 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Lotus and Inner is -0.4. Overlapping area represents the amount of risk that can be diversified away by holding Lotus Health Group and Inner Mongolia Yuan in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Inner Mongolia Yuan and Lotus Health 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 Lotus Health Group are associated (or correlated) with Inner Mongolia. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Inner Mongolia Yuan has no effect on the direction of Lotus Health i.e., Lotus Health and Inner Mongolia go up and down completely randomly.
Pair Corralation between Lotus Health and Inner Mongolia
Assuming the 90 days trading horizon Lotus Health Group is expected to under-perform the Inner Mongolia. In addition to that, Lotus Health is 3.42 times more volatile than Inner Mongolia Yuan. It trades about -0.08 of its total potential returns per unit of risk. Inner Mongolia Yuan is currently generating about 0.03 per unit of volatility. If you would invest 568.00 in Inner Mongolia Yuan on October 20, 2024 and sell it today you would earn a total of 4.00 from holding Inner Mongolia Yuan or generate 0.7% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Lotus Health Group vs. Inner Mongolia Yuan
Performance |
| Timeline |
| Lotus Health Group |
| Inner Mongolia Yuan |
Lotus Health and Inner Mongolia Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Lotus Health and Inner Mongolia
The main advantage of trading using opposite Lotus Health and Inner Mongolia positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Lotus Health position performs unexpectedly, Inner Mongolia 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 Inner Mongolia will offset losses from the drop in Inner Mongolia's long position.| Lotus Health vs. Citic Offshore Helicopter | Lotus Health vs. Shanghai Ziyan Foods | Lotus Health vs. JuneYao Dairy Co | Lotus Health vs. Anji Foodstuff Co |
| Inner Mongolia vs. Liaoning Chengda Biotechnology | Inner Mongolia vs. Beijing Jiaman Dress | Inner Mongolia vs. Hubei Geoway Investment | Inner Mongolia vs. Cicc Fund Management |
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 Global Markets Map module to get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes.
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