Correlation Between Markor International and Eastroc Beverage
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By analyzing existing cross correlation between Markor International Home and Eastroc Beverage Group, you can compare the effects of market volatilities on Markor International and Eastroc Beverage 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 Eastroc Beverage. Check out your portfolio center. Please also check ongoing floating volatility patterns of Markor International and Eastroc Beverage.
Diversification Opportunities for Markor International and Eastroc Beverage
0.17 | Correlation Coefficient |
Average diversification
The 3 months correlation between Markor and Eastroc is 0.17. Overlapping area represents the amount of risk that can be diversified away by holding Markor International Home and Eastroc Beverage Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Eastroc Beverage 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 Eastroc Beverage. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Eastroc Beverage has no effect on the direction of Markor International i.e., Markor International and Eastroc Beverage go up and down completely randomly.
Pair Corralation between Markor International and Eastroc Beverage
Assuming the 90 days trading horizon Markor International Home is expected to under-perform the Eastroc Beverage. In addition to that, Markor International is 2.78 times more volatile than Eastroc Beverage Group. It trades about -0.49 of its total potential returns per unit of risk. Eastroc Beverage Group is currently generating about 0.31 per unit of volatility. If you would invest 25,127 in Eastroc Beverage Group on October 14, 2024 and sell it today you would earn a total of 2,569 from holding Eastroc Beverage Group or generate 10.22% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Markor International Home vs. Eastroc Beverage Group
Performance |
| Timeline |
| Markor International Home |
| Eastroc Beverage |
Markor International and Eastroc Beverage Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Markor International and Eastroc Beverage
The main advantage of trading using opposite Markor International and Eastroc Beverage positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Markor International position performs unexpectedly, Eastroc Beverage 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 Eastroc Beverage will offset losses from the drop in Eastroc Beverage's long position.| Markor International vs. Mengtian Home Group | Markor International vs. DO Home Collection | Markor International vs. Shandong Homey Aquatic | Markor International vs. Qumei Furniture Group |
| Eastroc Beverage vs. Emdoor Information Co | Eastroc Beverage vs. Qiming Information Technology | Eastroc Beverage vs. AVCON Information Tech | Eastroc Beverage vs. Zhongfu Information |
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 Global Markets Map module to get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes.
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