Correlation Between Lushang Property and COL Digital
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By analyzing existing cross correlation between Lushang Property Co and COL Digital Publishing, you can compare the effects of market volatilities on Lushang Property and COL Digital 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 Lushang Property with a short position of COL Digital. Check out your portfolio center. Please also check ongoing floating volatility patterns of Lushang Property and COL Digital.
Diversification Opportunities for Lushang Property and COL Digital
-0.04 | Correlation Coefficient |
Good diversification
The 3 months correlation between Lushang and COL is -0.04. Overlapping area represents the amount of risk that can be diversified away by holding Lushang Property Co and COL Digital Publishing in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on COL Digital Publishing and Lushang Property 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 Lushang Property Co are associated (or correlated) with COL Digital. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of COL Digital Publishing has no effect on the direction of Lushang Property i.e., Lushang Property and COL Digital go up and down completely randomly.
Pair Corralation between Lushang Property and COL Digital
Assuming the 90 days trading horizon Lushang Property Co is expected to under-perform the COL Digital. But the stock apears to be less risky and, when comparing its historical volatility, Lushang Property Co is 1.25 times less risky than COL Digital. The stock trades about -0.1 of its potential returns per unit of risk. The COL Digital Publishing is currently generating about 0.19 of returns per unit of risk over similar time horizon. If you would invest 2,259 in COL Digital Publishing on November 5, 2024 and sell it today you would earn a total of 186.00 from holding COL Digital Publishing or generate 8.23% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Lushang Property Co vs. COL Digital Publishing
Performance |
| Timeline |
| Lushang Property |
| COL Digital Publishing |
Lushang Property and COL Digital Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Lushang Property and COL Digital
The main advantage of trading using opposite Lushang Property and COL Digital positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Lushang Property position performs unexpectedly, COL Digital 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 COL Digital will offset losses from the drop in COL Digital's long position.| Lushang Property vs. New Hope Dairy | Lushang Property vs. Quectel Wireless Solutions | Lushang Property vs. Guilin Seamild Foods | Lushang Property vs. Yan Tai Shuang |
| COL Digital vs. China Life Insurance | COL Digital vs. GRIPM Advanced Materials | COL Digital vs. Guangzhou Tinci Materials | COL Digital vs. Peoples Insurance of |
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 Stock Tickers module to use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites.
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