Correlation Between Sino Platinum and Ingenic Semiconductor
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By analyzing existing cross correlation between Sino Platinum Metals Co and Ingenic Semiconductor, you can compare the effects of market volatilities on Sino Platinum and Ingenic Semiconductor 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 Sino Platinum with a short position of Ingenic Semiconductor. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sino Platinum and Ingenic Semiconductor.
Diversification Opportunities for Sino Platinum and Ingenic Semiconductor
0.73 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Sino and Ingenic is 0.73. Overlapping area represents the amount of risk that can be diversified away by holding Sino Platinum Metals Co and Ingenic Semiconductor in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Ingenic Semiconductor and Sino Platinum 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 Sino Platinum Metals Co are associated (or correlated) with Ingenic Semiconductor. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Ingenic Semiconductor has no effect on the direction of Sino Platinum i.e., Sino Platinum and Ingenic Semiconductor go up and down completely randomly.
Pair Corralation between Sino Platinum and Ingenic Semiconductor
Assuming the 90 days trading horizon Sino Platinum Metals Co is expected to generate 0.36 times more return on investment than Ingenic Semiconductor. However, Sino Platinum Metals Co is 2.78 times less risky than Ingenic Semiconductor. It trades about -0.06 of its potential returns per unit of risk. Ingenic Semiconductor is currently generating about -0.07 per unit of risk. If you would invest 1,417 in Sino Platinum Metals Co on October 16, 2024 and sell it today you would lose (22.00) from holding Sino Platinum Metals Co or give up 1.55% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Sino Platinum Metals Co vs. Ingenic Semiconductor
Performance |
| Timeline |
| Sino Platinum Metals |
| Ingenic Semiconductor |
Sino Platinum and Ingenic Semiconductor Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Sino Platinum and Ingenic Semiconductor
The main advantage of trading using opposite Sino Platinum and Ingenic Semiconductor positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sino Platinum position performs unexpectedly, Ingenic Semiconductor 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 Ingenic Semiconductor will offset losses from the drop in Ingenic Semiconductor's long position.| Sino Platinum vs. CareRay Digital Medical | Sino Platinum vs. Shanghai CEO Environmental | Sino Platinum vs. Medprin Regenerative Medical | Sino Platinum vs. Huaxia Fund Management |
| Ingenic Semiconductor vs. Duzhe Publishing Media | Ingenic Semiconductor vs. Guangdong Jingyi Metal | Ingenic Semiconductor vs. Sino Platinum Metals Co | Ingenic Semiconductor vs. Sichuan Yahua Industrial |
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 Commodity Directory module to find actively traded commodities issued by global exchanges.
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