Correlation Between Markor International and Northern United
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By analyzing existing cross correlation between Markor International Home and Northern United Publishing, you can compare the effects of market volatilities on Markor International and Northern United 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 Northern United. Check out your portfolio center. Please also check ongoing floating volatility patterns of Markor International and Northern United.
Diversification Opportunities for Markor International and Northern United
0.91 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Markor and Northern is 0.91. Overlapping area represents the amount of risk that can be diversified away by holding Markor International Home and Northern United Publishing in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Northern United 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 Northern United. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Northern United Publ has no effect on the direction of Markor International i.e., Markor International and Northern United go up and down completely randomly.
Pair Corralation between Markor International and Northern United
Assuming the 90 days trading horizon Markor International is expected to generate 2.0 times less return on investment than Northern United. In addition to that, Markor International is 1.22 times more volatile than Northern United Publishing. It trades about 0.1 of its total potential returns per unit of risk. Northern United Publishing is currently generating about 0.25 per unit of volatility. If you would invest 627.00 in Northern United Publishing on September 5, 2024 and sell it today you would earn a total of 80.00 from holding Northern United Publishing or generate 12.76% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 95.65% |
| Values | Daily Returns |
Markor International Home vs. Northern United Publishing
Performance |
| Timeline |
| Markor International Home |
| Northern United Publ |
Markor International and Northern United Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Markor International and Northern United
The main advantage of trading using opposite Markor International and Northern United positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Markor International position performs unexpectedly, Northern United 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 Northern United will offset losses from the drop in Northern United'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 |
| Northern United vs. Double Medical Technology | Northern United vs. Markor International Home | Northern United vs. Der International Home | Northern United vs. Kontour Medical 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 Portfolio File Import module to quickly import all of your third-party portfolios from your local drive in csv format.
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