Correlation Between Cultural Investment and Allmed Medical
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By analyzing existing cross correlation between Cultural Investment Holdings and Allmed Medical Products, you can compare the effects of market volatilities on Cultural Investment and Allmed Medical 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 Cultural Investment with a short position of Allmed Medical. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cultural Investment and Allmed Medical.
Diversification Opportunities for Cultural Investment and Allmed Medical
0.71 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Cultural and Allmed is 0.71. Overlapping area represents the amount of risk that can be diversified away by holding Cultural Investment Holdings and Allmed Medical Products in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Allmed Medical Products and Cultural 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 Cultural Investment Holdings are associated (or correlated) with Allmed Medical. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Allmed Medical Products has no effect on the direction of Cultural Investment i.e., Cultural Investment and Allmed Medical go up and down completely randomly.
Pair Corralation between Cultural Investment and Allmed Medical
Assuming the 90 days trading horizon Cultural Investment Holdings is expected to generate 1.02 times more return on investment than Allmed Medical. However, Cultural Investment is 1.02 times more volatile than Allmed Medical Products. It trades about 0.16 of its potential returns per unit of risk. Allmed Medical Products is currently generating about 0.13 per unit of risk. If you would invest 189.00 in Cultural Investment Holdings on September 12, 2024 and sell it today you would earn a total of 55.00 from holding Cultural Investment Holdings or generate 29.1% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 98.28% |
| Values | Daily Returns |
Cultural Investment Holdings vs. Allmed Medical Products
Performance |
| Timeline |
| Cultural Investment |
| Allmed Medical Products |
Cultural Investment and Allmed Medical Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Cultural Investment and Allmed Medical
The main advantage of trading using opposite Cultural Investment and Allmed Medical positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cultural Investment position performs unexpectedly, Allmed Medical 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 Allmed Medical will offset losses from the drop in Allmed Medical's long position.| Cultural Investment vs. Industrial and Commercial | Cultural Investment vs. China Construction Bank | Cultural Investment vs. Agricultural Bank of | Cultural Investment vs. Bank of China |
| Allmed Medical vs. Shuhua Sports Co | Allmed Medical vs. Hengdian Entertainment Co | Allmed Medical vs. China Asset Management | Allmed Medical vs. Chengdu B ray Media |
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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