Correlation Between Lotus Health and De Rucci
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By analyzing existing cross correlation between Lotus Health Group and De Rucci Healthy, you can compare the effects of market volatilities on Lotus Health and De Rucci 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 De Rucci. Check out your portfolio center. Please also check ongoing floating volatility patterns of Lotus Health and De Rucci.
Diversification Opportunities for Lotus Health and De Rucci
0.95 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Lotus and 001323 is 0.95. Overlapping area represents the amount of risk that can be diversified away by holding Lotus Health Group and De Rucci Healthy in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on De Rucci Healthy 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 De Rucci. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of De Rucci Healthy has no effect on the direction of Lotus Health i.e., Lotus Health and De Rucci go up and down completely randomly.
Pair Corralation between Lotus Health and De Rucci
Assuming the 90 days trading horizon Lotus Health Group is expected to generate 1.43 times more return on investment than De Rucci. However, Lotus Health is 1.43 times more volatile than De Rucci Healthy. It trades about 0.06 of its potential returns per unit of risk. De Rucci Healthy is currently generating about 0.03 per unit of risk. If you would invest 293.00 in Lotus Health Group on September 3, 2024 and sell it today you would earn a total of 237.00 from holding Lotus Health Group or generate 80.89% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Lotus Health Group vs. De Rucci Healthy
Performance |
| Timeline |
| Lotus Health Group |
| De Rucci Healthy |
Lotus Health and De Rucci Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Lotus Health and De Rucci
The main advantage of trading using opposite Lotus Health and De Rucci positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Lotus Health position performs unexpectedly, De Rucci 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 De Rucci will offset losses from the drop in De Rucci's long position.| Lotus Health vs. Beijing Wantai Biological | Lotus Health vs. Aluminum Corp of | Lotus Health vs. COL Digital Publishing | Lotus Health vs. Shaanxi Meineng Clean |
| De Rucci vs. PetroChina Co Ltd | De Rucci vs. China Mobile Limited | De Rucci vs. Industrial and Commercial | De Rucci vs. China Life Insurance |
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 Headlines Timeline module to stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity.
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