Correlation Between Time Publishing and Focus Media
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By analyzing existing cross correlation between Time Publishing and and Focus Media Information, you can compare the effects of market volatilities on Time Publishing and Focus Media 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 Time Publishing with a short position of Focus Media. Check out your portfolio center. Please also check ongoing floating volatility patterns of Time Publishing and Focus Media.
Diversification Opportunities for Time Publishing and Focus Media
0.65 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Time and Focus is 0.65. Overlapping area represents the amount of risk that can be diversified away by holding Time Publishing and and Focus Media Information in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Focus Media Information and Time Publishing 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 Time Publishing and are associated (or correlated) with Focus Media. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Focus Media Information has no effect on the direction of Time Publishing i.e., Time Publishing and Focus Media go up and down completely randomly.
Pair Corralation between Time Publishing and Focus Media
Assuming the 90 days trading horizon Time Publishing and is expected to under-perform the Focus Media. In addition to that, Time Publishing is 1.71 times more volatile than Focus Media Information. It trades about -0.02 of its total potential returns per unit of risk. Focus Media Information is currently generating about 0.05 per unit of volatility. If you would invest 571.00 in Focus Media Information on September 12, 2024 and sell it today you would earn a total of 128.00 from holding Focus Media Information or generate 22.42% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Time Publishing and vs. Focus Media Information
Performance |
| Timeline |
| Time Publishing |
| Focus Media Information |
Time Publishing and Focus Media Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Time Publishing and Focus Media
The main advantage of trading using opposite Time Publishing and Focus Media positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Time Publishing position performs unexpectedly, Focus Media 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 Focus Media will offset losses from the drop in Focus Media's long position.| Time Publishing vs. Kweichow Moutai Co | Time Publishing vs. Shenzhen Mindray Bio Medical | Time Publishing vs. G bits Network Technology | Time Publishing vs. Beijing Roborock Technology |
| Focus Media vs. Gansu Jiu Steel | Focus Media vs. Shandong Mining Machinery | Focus Media vs. Aba Chemicals Corp | Focus Media vs. BlueFocus Communication Group |
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 Holdings module to check your current holdings and cash postion to detemine if your portfolio needs rebalancing.
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