Correlation Between Metro Investment and Flat Glass
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By analyzing existing cross correlation between Metro Investment Development and Flat Glass Group, you can compare the effects of market volatilities on Metro Investment and Flat Glass 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 Metro Investment with a short position of Flat Glass. Check out your portfolio center. Please also check ongoing floating volatility patterns of Metro Investment and Flat Glass.
Diversification Opportunities for Metro Investment and Flat Glass
0.65 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Metro and Flat is 0.65. Overlapping area represents the amount of risk that can be diversified away by holding Metro Investment Development and Flat Glass Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Flat Glass Group and Metro Investment 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 Metro Investment Development are associated (or correlated) with Flat Glass. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Flat Glass Group has no effect on the direction of Metro Investment i.e., Metro Investment and Flat Glass go up and down completely randomly.
Pair Corralation between Metro Investment and Flat Glass
Assuming the 90 days trading horizon Metro Investment Development is expected to generate 0.78 times more return on investment than Flat Glass. However, Metro Investment Development is 1.29 times less risky than Flat Glass. It trades about 0.02 of its potential returns per unit of risk. Flat Glass Group is currently generating about -0.14 per unit of risk. If you would invest 452.00 in Metro Investment Development on September 1, 2024 and sell it today you would earn a total of 3.00 from holding Metro Investment Development or generate 0.66% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 95.65% |
| Values | Daily Returns |
Metro Investment Development vs. Flat Glass Group
Performance |
| Timeline |
| Metro Investment Dev |
| Flat Glass Group |
Metro Investment and Flat Glass Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Metro Investment and Flat Glass
The main advantage of trading using opposite Metro Investment and Flat Glass positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Metro Investment position performs unexpectedly, Flat Glass 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 Flat Glass will offset losses from the drop in Flat Glass' long position.| Metro Investment vs. BeiGene | Metro Investment vs. Kweichow Moutai Co | Metro Investment vs. Beijing Roborock Technology | Metro Investment vs. G bits Network Technology |
| Flat Glass vs. Metro Investment Development | Flat Glass vs. Nuode Investment Co | Flat Glass vs. Everjoy Health Group | Flat Glass vs. Zhongrun Resources Investment |
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 Manager module to state of the art Portfolio Manager to monitor and improve performance of your invested capital.
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