Correlation Between Markor International and Sinomach General
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By analyzing existing cross correlation between Markor International Home and Sinomach General Machinery, you can compare the effects of market volatilities on Markor International and Sinomach General 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 Sinomach General. Check out your portfolio center. Please also check ongoing floating volatility patterns of Markor International and Sinomach General.
Diversification Opportunities for Markor International and Sinomach General
0.93 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Markor and Sinomach is 0.93. Overlapping area represents the amount of risk that can be diversified away by holding Markor International Home and Sinomach General Machinery in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Sinomach General Mac 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 Sinomach General. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Sinomach General Mac has no effect on the direction of Markor International i.e., Markor International and Sinomach General go up and down completely randomly.
Pair Corralation between Markor International and Sinomach General
Assuming the 90 days trading horizon Markor International Home is expected to under-perform the Sinomach General. But the stock apears to be less risky and, when comparing its historical volatility, Markor International Home is 1.07 times less risky than Sinomach General. The stock trades about -0.01 of its potential returns per unit of risk. The Sinomach General Machinery is currently generating about 0.03 of returns per unit of risk over similar time horizon. If you would invest 1,322 in Sinomach General Machinery on September 5, 2024 and sell it today you would earn a total of 364.00 from holding Sinomach General Machinery or generate 27.53% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 99.79% |
| Values | Daily Returns |
Markor International Home vs. Sinomach General Machinery
Performance |
| Timeline |
| Markor International Home |
| Sinomach General Mac |
Markor International and Sinomach General Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Markor International and Sinomach General
The main advantage of trading using opposite Markor International and Sinomach General positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Markor International position performs unexpectedly, Sinomach General 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 Sinomach General will offset losses from the drop in Sinomach General's long position.| Markor International vs. Vanfund Urban Investment | Markor International vs. Luyin Investment Group | Markor International vs. Jiangsu Yueda Investment | Markor International vs. Jointo Energy Investment |
| Sinomach General vs. Caihong Display Devices | Sinomach General vs. Markor International Home | Sinomach General vs. Shanghai Shuixing Home | Sinomach General vs. Hunan Mendale Hometextile |
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 Fundamental Analysis module to view fundamental data based on most recent published financial statements.
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