Correlation Between Markor International and Xinhua Winshare
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By analyzing existing cross correlation between Markor International Home and Xinhua Winshare Publishing, you can compare the effects of market volatilities on Markor International and Xinhua Winshare 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 Xinhua Winshare. Check out your portfolio center. Please also check ongoing floating volatility patterns of Markor International and Xinhua Winshare.
Diversification Opportunities for Markor International and Xinhua Winshare
-0.01 | Correlation Coefficient |
Good diversification
The 3 months correlation between Markor and Xinhua is -0.01. Overlapping area represents the amount of risk that can be diversified away by holding Markor International Home and Xinhua Winshare Publishing in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Xinhua Winshare Publ 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 Xinhua Winshare. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Xinhua Winshare Publ has no effect on the direction of Markor International i.e., Markor International and Xinhua Winshare go up and down completely randomly.
Pair Corralation between Markor International and Xinhua Winshare
Assuming the 90 days trading horizon Markor International Home is expected to under-perform the Xinhua Winshare. In addition to that, Markor International is 1.43 times more volatile than Xinhua Winshare Publishing. It trades about -0.01 of its total potential returns per unit of risk. Xinhua Winshare Publishing is currently generating about 0.02 per unit of volatility. If you would invest 1,397 in Xinhua Winshare Publishing on September 3, 2024 and sell it today you would earn a total of 61.00 from holding Xinhua Winshare Publishing or generate 4.37% 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. Xinhua Winshare Publishing
Performance |
| Timeline |
| Markor International Home |
| Xinhua Winshare Publ |
Markor International and Xinhua Winshare Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Markor International and Xinhua Winshare
The main advantage of trading using opposite Markor International and Xinhua Winshare positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Markor International position performs unexpectedly, Xinhua Winshare 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 Xinhua Winshare will offset losses from the drop in Xinhua Winshare's long position.| Markor International vs. PetroChina Co Ltd | Markor International vs. China Mobile Limited | Markor International vs. Industrial and Commercial | Markor International vs. China Life Insurance |
| Xinhua Winshare vs. Xiangtan Electrochemical Scientific | Xinhua Winshare vs. Yangmei Chemical Co | Xinhua Winshare vs. Wuxi Chemical Equipment | Xinhua Winshare vs. Dymatic Chemicals |
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 Positions Ratings module to determine portfolio positions ratings based on digital equity recommendations. Macroaxis instant position ratings are based on combination of fundamental analysis and risk-adjusted market performance.
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