Correlation Between Cultural Investment and Ingenic Semiconductor
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By analyzing existing cross correlation between Cultural Investment Holdings and Ingenic Semiconductor, you can compare the effects of market volatilities on Cultural Investment 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 Cultural Investment with a short position of Ingenic Semiconductor. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cultural Investment and Ingenic Semiconductor.
Diversification Opportunities for Cultural Investment and Ingenic Semiconductor
0.49 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Cultural and Ingenic is 0.49. Overlapping area represents the amount of risk that can be diversified away by holding Cultural Investment Holdings and Ingenic Semiconductor in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Ingenic Semiconductor 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 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 Cultural Investment i.e., Cultural Investment and Ingenic Semiconductor go up and down completely randomly.
Pair Corralation between Cultural Investment and Ingenic Semiconductor
Assuming the 90 days trading horizon Cultural Investment Holdings is expected to under-perform the Ingenic Semiconductor. In addition to that, Cultural Investment is 1.18 times more volatile than Ingenic Semiconductor. It trades about -0.17 of its total potential returns per unit of risk. Ingenic Semiconductor is currently generating about -0.15 per unit of volatility. If you would invest 7,000 in Ingenic Semiconductor on October 12, 2024 and sell it today you would lose (739.00) from holding Ingenic Semiconductor or give up 10.56% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Cultural Investment Holdings vs. Ingenic Semiconductor
Performance |
| Timeline |
| Cultural Investment |
| Ingenic Semiconductor |
Cultural Investment and Ingenic Semiconductor Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Cultural Investment and Ingenic Semiconductor
The main advantage of trading using opposite Cultural Investment and Ingenic Semiconductor positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cultural Investment 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.| Cultural Investment vs. Fujian Longzhou Transportation | Cultural Investment vs. Xinjiang Beixin RoadBridge | Cultural Investment vs. Cansino Biologics | Cultural Investment vs. Shaanxi Broadcast TV |
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 Aroon Oscillator module to analyze current equity momentum using Aroon Oscillator and other momentum ratios.
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