Correlation Between Markor International and Lootom Telcovideo
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By analyzing existing cross correlation between Markor International Home and Lootom Telcovideo Network, you can compare the effects of market volatilities on Markor International and Lootom Telcovideo 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 Lootom Telcovideo. Check out your portfolio center. Please also check ongoing floating volatility patterns of Markor International and Lootom Telcovideo.
Diversification Opportunities for Markor International and Lootom Telcovideo
0.83 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Markor and Lootom is 0.83. Overlapping area represents the amount of risk that can be diversified away by holding Markor International Home and Lootom Telcovideo Network in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Lootom Telcovideo Network 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 Lootom Telcovideo. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Lootom Telcovideo Network has no effect on the direction of Markor International i.e., Markor International and Lootom Telcovideo go up and down completely randomly.
Pair Corralation between Markor International and Lootom Telcovideo
Assuming the 90 days trading horizon Markor International Home is expected to generate 1.01 times more return on investment than Lootom Telcovideo. However, Markor International is 1.01 times more volatile than Lootom Telcovideo Network. It trades about 0.19 of its potential returns per unit of risk. Lootom Telcovideo Network is currently generating about -0.11 per unit of risk. If you would invest 175.00 in Markor International Home on August 30, 2024 and sell it today you would earn a total of 22.00 from holding Markor International Home or generate 12.57% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Markor International Home vs. Lootom Telcovideo Network
Performance |
| Timeline |
| Markor International Home |
| Lootom Telcovideo Network |
Markor International and Lootom Telcovideo Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Markor International and Lootom Telcovideo
The main advantage of trading using opposite Markor International and Lootom Telcovideo positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Markor International position performs unexpectedly, Lootom Telcovideo 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 Lootom Telcovideo will offset losses from the drop in Lootom Telcovideo's long position.| Markor International vs. Shanghai Yaoji Playing | Markor International vs. YLZ Information Tech | Markor International vs. Longmaster Information Tech | Markor International vs. Beijing Jiaman Dress |
| Lootom Telcovideo vs. China State Construction | Lootom Telcovideo vs. Huafa Industrial Co | Lootom Telcovideo vs. China International Capital | Lootom Telcovideo vs. Kweichow Moutai Co |
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 Risk-Return Analysis module to view associations between returns expected from investment and the risk you assume.
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