Correlation Between Guangxi Wuzhou and Markor International
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By analyzing existing cross correlation between Guangxi Wuzhou Communications and Markor International Home, you can compare the effects of market volatilities on Guangxi Wuzhou and Markor International 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 Guangxi Wuzhou with a short position of Markor International. Check out your portfolio center. Please also check ongoing floating volatility patterns of Guangxi Wuzhou and Markor International.
Diversification Opportunities for Guangxi Wuzhou and Markor International
0.94 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Guangxi and Markor is 0.94. Overlapping area represents the amount of risk that can be diversified away by holding Guangxi Wuzhou Communications and Markor International Home in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Markor International Home and Guangxi Wuzhou 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 Guangxi Wuzhou Communications are associated (or correlated) with Markor International. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Markor International Home has no effect on the direction of Guangxi Wuzhou i.e., Guangxi Wuzhou and Markor International go up and down completely randomly.
Pair Corralation between Guangxi Wuzhou and Markor International
Assuming the 90 days trading horizon Guangxi Wuzhou is expected to generate 4.28 times less return on investment than Markor International. But when comparing it to its historical volatility, Guangxi Wuzhou Communications is 2.73 times less risky than Markor International. It trades about 0.13 of its potential returns per unit of risk. Markor International Home is currently generating about 0.21 of returns per unit of risk over similar time horizon. If you would invest 211.00 in Markor International Home on September 13, 2024 and sell it today you would earn a total of 38.00 from holding Markor International Home or generate 18.01% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Guangxi Wuzhou Communications vs. Markor International Home
Performance |
| Timeline |
| Guangxi Wuzhou Commu |
| Markor International Home |
Guangxi Wuzhou and Markor International Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Guangxi Wuzhou and Markor International
The main advantage of trading using opposite Guangxi Wuzhou and Markor International positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Guangxi Wuzhou position performs unexpectedly, Markor International 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 Markor International will offset losses from the drop in Markor International's long position.| Guangxi Wuzhou vs. Kweichow Moutai Co | Guangxi Wuzhou vs. Shenzhen Mindray Bio Medical | Guangxi Wuzhou vs. Jiangsu Pacific Quartz | Guangxi Wuzhou vs. G bits Network Technology |
| Markor International vs. Tianjin Silvery Dragon | Markor International vs. Xinjiang Baodi Mining | Markor International vs. Shanghai Rendu Biotechnology | Markor International vs. Yili Chuanning Biotechnology |
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 Premium Stories module to follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope.
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