Correlation Between Cultural Investment and Winner Medical
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By analyzing existing cross correlation between Cultural Investment Holdings and Winner Medical Co, you can compare the effects of market volatilities on Cultural Investment and Winner 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 Winner Medical. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cultural Investment and Winner Medical.
Diversification Opportunities for Cultural Investment and Winner Medical
0.51 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Cultural and Winner is 0.51. Overlapping area represents the amount of risk that can be diversified away by holding Cultural Investment Holdings and Winner Medical Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Winner Medical 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 Winner Medical. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Winner Medical has no effect on the direction of Cultural Investment i.e., Cultural Investment and Winner Medical go up and down completely randomly.
Pair Corralation between Cultural Investment and Winner Medical
Assuming the 90 days trading horizon Cultural Investment Holdings is expected to generate 1.55 times more return on investment than Winner Medical. However, Cultural Investment is 1.55 times more volatile than Winner Medical Co. It trades about 0.02 of its potential returns per unit of risk. Winner Medical Co is currently generating about 0.01 per unit of risk. If you would invest 218.00 in Cultural Investment Holdings on October 16, 2024 and sell it today you would lose (4.00) from holding Cultural Investment Holdings or give up 1.83% 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. Winner Medical Co
Performance |
| Timeline |
| Cultural Investment |
| Winner Medical |
Cultural Investment and Winner Medical Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Cultural Investment and Winner Medical
The main advantage of trading using opposite Cultural Investment and Winner Medical positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cultural Investment position performs unexpectedly, Winner 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 Winner Medical will offset losses from the drop in Winner Medical's long position.| Cultural Investment vs. Keeson Technology Corp | Cultural Investment vs. Bangyan Technology Co | Cultural Investment vs. Hubei Forbon Technology | Cultural Investment vs. Soyea Technology Co |
| Winner Medical vs. Holitech Technology Co | Winner Medical vs. Zotye Automobile Co | Winner Medical vs. Bus Online Co | Winner Medical vs. Cultural Investment Holdings |
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 Diagnostics module to use generated alerts and portfolio events aggregator to diagnose current holdings.
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