Correlation Between Cultural Investment and Thinkingdom Media
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By analyzing existing cross correlation between Cultural Investment Holdings and Thinkingdom Media Group, you can compare the effects of market volatilities on Cultural Investment and Thinkingdom 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 Cultural Investment with a short position of Thinkingdom Media. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cultural Investment and Thinkingdom Media.
Diversification Opportunities for Cultural Investment and Thinkingdom Media
-0.02 | Correlation Coefficient |
Good diversification
The 3 months correlation between Cultural and Thinkingdom is -0.02. Overlapping area represents the amount of risk that can be diversified away by holding Cultural Investment Holdings and Thinkingdom Media Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Thinkingdom Media 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 Thinkingdom Media. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Thinkingdom Media has no effect on the direction of Cultural Investment i.e., Cultural Investment and Thinkingdom Media go up and down completely randomly.
Pair Corralation between Cultural Investment and Thinkingdom Media
Assuming the 90 days trading horizon Cultural Investment Holdings is expected to under-perform the Thinkingdom Media. But the stock apears to be less risky and, when comparing its historical volatility, Cultural Investment Holdings is 1.08 times less risky than Thinkingdom Media. The stock trades about -0.03 of its potential returns per unit of risk. The Thinkingdom Media Group is currently generating about 0.08 of returns per unit of risk over similar time horizon. If you would invest 1,737 in Thinkingdom Media Group on November 6, 2024 and sell it today you would earn a total of 243.00 from holding Thinkingdom Media Group or generate 13.99% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Cultural Investment Holdings vs. Thinkingdom Media Group
Performance |
| Timeline |
| Cultural Investment |
| Thinkingdom Media |
Cultural Investment and Thinkingdom Media Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Cultural Investment and Thinkingdom Media
The main advantage of trading using opposite Cultural Investment and Thinkingdom Media positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cultural Investment position performs unexpectedly, Thinkingdom 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 Thinkingdom Media will offset losses from the drop in Thinkingdom Media's long position.| Cultural Investment vs. Zhengzhou Coal Mining | Cultural Investment vs. Easyhome New Retail | Cultural Investment vs. Time Publishing and | Cultural Investment vs. Shenzhen Silver Basis |
| Thinkingdom Media vs. Advanced Technology Materials | Thinkingdom Media vs. Beijing Lier High | Thinkingdom Media vs. Financial Street Holdings | Thinkingdom Media vs. Fuda Alloy Materials |
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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