Correlation Between Markor International and East Money
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By analyzing existing cross correlation between Markor International Home and East Money Information, you can compare the effects of market volatilities on Markor International and East Money 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 East Money. Check out your portfolio center. Please also check ongoing floating volatility patterns of Markor International and East Money.
Diversification Opportunities for Markor International and East Money
0.72 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Markor and East is 0.72. Overlapping area represents the amount of risk that can be diversified away by holding Markor International Home and East Money Information in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on East Money Information 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 East Money. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of East Money Information has no effect on the direction of Markor International i.e., Markor International and East Money go up and down completely randomly.
Pair Corralation between Markor International and East Money
Assuming the 90 days trading horizon Markor International Home is expected to under-perform the East Money. But the stock apears to be less risky and, when comparing its historical volatility, Markor International Home is 1.06 times less risky than East Money. The stock trades about -0.02 of its potential returns per unit of risk. The East Money Information is currently generating about 0.03 of returns per unit of risk over similar time horizon. If you would invest 1,922 in East Money Information on October 11, 2024 and sell it today you would earn a total of 334.00 from holding East Money Information or generate 17.38% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Markor International Home vs. East Money Information
Performance |
| Timeline |
| Markor International Home |
| East Money Information |
Markor International and East Money Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Markor International and East Money
The main advantage of trading using opposite Markor International and East Money positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Markor International position performs unexpectedly, East Money 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 East Money will offset losses from the drop in East Money's long position.| Markor International vs. Industrial Bank Co | Markor International vs. Anhui Deli Household | Markor International vs. Yindu Kitchen Equipment | Markor International vs. Chongqing Road Bridge |
| East Money vs. Markor International Home | East Money vs. CSSC Offshore Marine | East Money vs. Citic Offshore Helicopter | East Money vs. Mengtian Home 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 Portfolio Center module to all portfolio management and optimization tools to improve performance of your portfolios.
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