Correlation Between Markor International and Southern PublishingMedia
Specify exactly 2 symbols:
By analyzing existing cross correlation between Markor International Home and Southern PublishingMedia Co, you can compare the effects of market volatilities on Markor International and Southern PublishingMedia 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 Southern PublishingMedia. Check out your portfolio center. Please also check ongoing floating volatility patterns of Markor International and Southern PublishingMedia.
Diversification Opportunities for Markor International and Southern PublishingMedia
0.82 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Markor and Southern is 0.82. Overlapping area represents the amount of risk that can be diversified away by holding Markor International Home and Southern PublishingMedia Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Southern PublishingMedia 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 Southern PublishingMedia. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Southern PublishingMedia has no effect on the direction of Markor International i.e., Markor International and Southern PublishingMedia go up and down completely randomly.
Pair Corralation between Markor International and Southern PublishingMedia
Assuming the 90 days trading horizon Markor International Home is expected to under-perform the Southern PublishingMedia. In addition to that, Markor International is 1.24 times more volatile than Southern PublishingMedia Co. It trades about 0.0 of its total potential returns per unit of risk. Southern PublishingMedia Co is currently generating about 0.06 per unit of volatility. If you would invest 1,262 in Southern PublishingMedia Co on September 3, 2024 and sell it today you would earn a total of 241.00 from holding Southern PublishingMedia Co or generate 19.1% 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. Southern PublishingMedia Co
Performance |
| Timeline |
| Markor International Home |
| Southern PublishingMedia |
Markor International and Southern PublishingMedia Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Markor International and Southern PublishingMedia
The main advantage of trading using opposite Markor International and Southern PublishingMedia positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Markor International position performs unexpectedly, Southern PublishingMedia 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 Southern PublishingMedia will offset losses from the drop in Southern PublishingMedia'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 |
| Southern PublishingMedia vs. Gansu Jiu Steel | Southern PublishingMedia vs. Ming Yang Smart | Southern PublishingMedia vs. Aba Chemicals Corp | Southern PublishingMedia vs. Loctek Ergonomic Technology |
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 Balance Of Power module to check stock momentum by analyzing Balance Of Power indicator and other technical ratios.
Other Complementary Tools
| Commodity Directory Find actively traded commodities issued by global exchanges | |
| Commodity Channel Use Commodity Channel Index to analyze current equity momentum | |
| Portfolio Manager State of the art Portfolio Manager to monitor and improve performance of your invested capital | |
| Options Analysis Analyze and evaluate options and option chains as a potential hedge for your portfolios | |
| Bonds Directory Find actively traded corporate debentures issued by US companies |