Correlation Between Markor International and Hunan Mendale
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By analyzing existing cross correlation between Markor International Home and Hunan Mendale Hometextile, you can compare the effects of market volatilities on Markor International and Hunan Mendale 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 Hunan Mendale. Check out your portfolio center. Please also check ongoing floating volatility patterns of Markor International and Hunan Mendale.
Diversification Opportunities for Markor International and Hunan Mendale
-0.14 | Correlation Coefficient |
Good diversification
The 3 months correlation between Markor and Hunan is -0.14. Overlapping area represents the amount of risk that can be diversified away by holding Markor International Home and Hunan Mendale Hometextile in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Hunan Mendale Hometextile 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 Hunan Mendale. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Hunan Mendale Hometextile has no effect on the direction of Markor International i.e., Markor International and Hunan Mendale go up and down completely randomly.
Pair Corralation between Markor International and Hunan Mendale
Assuming the 90 days trading horizon Markor International is expected to generate 1.15 times less return on investment than Hunan Mendale. But when comparing it to its historical volatility, Markor International Home is 1.18 times less risky than Hunan Mendale. It trades about 0.37 of its potential returns per unit of risk. Hunan Mendale Hometextile is currently generating about 0.36 of returns per unit of risk over similar time horizon. If you would invest 309.00 in Hunan Mendale Hometextile on November 27, 2024 and sell it today you would earn a total of 69.00 from holding Hunan Mendale Hometextile or generate 22.33% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Markor International Home vs. Hunan Mendale Hometextile
Performance |
| Timeline |
| Markor International Home |
| Hunan Mendale Hometextile |
Markor International and Hunan Mendale Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Markor International and Hunan Mendale
The main advantage of trading using opposite Markor International and Hunan Mendale positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Markor International position performs unexpectedly, Hunan Mendale 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 Hunan Mendale will offset losses from the drop in Hunan Mendale's long position.| Markor International vs. Baoshan Iron Steel | Markor International vs. Sinosteel Engineering and | Markor International vs. Keda Clean Energy | Markor International vs. Hainan Airlines Co |
| Hunan Mendale vs. Gan Yuan Foods | Hunan Mendale vs. Xiangpiaopiao Food Co | Hunan Mendale vs. Suzhou Oriental Semiconductor | Hunan Mendale vs. Air China Ltd |
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 Cryptocurrency Center module to build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency.
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