Correlation Between Markor International and Gansu Huangtai
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By analyzing existing cross correlation between Markor International Home and Gansu Huangtai Wine marketing, you can compare the effects of market volatilities on Markor International and Gansu Huangtai 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 Markor International with a short position of Gansu Huangtai. Check out your portfolio center. Please also check ongoing floating volatility patterns of Markor International and Gansu Huangtai.
Diversification Opportunities for Markor International and Gansu Huangtai
0.92 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Markor and Gansu is 0.92. Overlapping area represents the amount of risk that can be diversified away by holding Markor International Home and Gansu Huangtai Wine marketing in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Gansu Huangtai Wine and Markor International 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 Markor International Home are associated (or correlated) with Gansu Huangtai. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Gansu Huangtai Wine has no effect on the direction of Markor International i.e., Markor International and Gansu Huangtai go up and down completely randomly.
Pair Corralation between Markor International and Gansu Huangtai
Assuming the 90 days trading horizon Markor International Home is expected to generate 0.86 times more return on investment than Gansu Huangtai. However, Markor International Home is 1.16 times less risky than Gansu Huangtai. It trades about 0.11 of its potential returns per unit of risk. Gansu Huangtai Wine marketing is currently generating about 0.07 per unit of risk. If you would invest 211.00 in Markor International Home on September 12, 2024 and sell it today you would earn a total of 15.00 from holding Markor International Home or generate 7.11% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 95.65% |
| Values | Daily Returns |
Markor International Home vs. Gansu Huangtai Wine marketing
Performance |
| Timeline |
| Markor International Home |
| Gansu Huangtai Wine |
Markor International and Gansu Huangtai Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Markor International and Gansu Huangtai
The main advantage of trading using opposite Markor International and Gansu Huangtai positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Markor International position performs unexpectedly, Gansu Huangtai 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 Gansu Huangtai will offset losses from the drop in Gansu Huangtai's long position.| Markor International vs. Lutian Machinery Co | Markor International vs. PetroChina Co Ltd | Markor International vs. Bank of China | Markor International vs. Gansu Jiu Steel |
| Gansu Huangtai vs. China Petroleum Chemical | Gansu Huangtai vs. PetroChina Co Ltd | Gansu Huangtai vs. China State Construction | Gansu Huangtai vs. China Railway 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 Volatility Analysis module to get historical volatility and risk analysis based on latest market data.
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