Correlation Between Dalian Thermal and Easyhome New
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By analyzing existing cross correlation between Dalian Thermal Power and Easyhome New Retail, you can compare the effects of market volatilities on Dalian Thermal and Easyhome New 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 Dalian Thermal with a short position of Easyhome New. Check out your portfolio center. Please also check ongoing floating volatility patterns of Dalian Thermal and Easyhome New.
Diversification Opportunities for Dalian Thermal and Easyhome New
-0.2 | Correlation Coefficient |
Good diversification
The 3 months correlation between Dalian and Easyhome is -0.2. Overlapping area represents the amount of risk that can be diversified away by holding Dalian Thermal Power and Easyhome New Retail in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Easyhome New Retail and Dalian Thermal 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 Dalian Thermal Power are associated (or correlated) with Easyhome New. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Easyhome New Retail has no effect on the direction of Dalian Thermal i.e., Dalian Thermal and Easyhome New go up and down completely randomly.
Pair Corralation between Dalian Thermal and Easyhome New
Assuming the 90 days trading horizon Dalian Thermal Power is expected to generate 1.46 times more return on investment than Easyhome New. However, Dalian Thermal is 1.46 times more volatile than Easyhome New Retail. It trades about 0.02 of its potential returns per unit of risk. Easyhome New Retail is currently generating about 0.0 per unit of risk. If you would invest 560.00 in Dalian Thermal Power on October 29, 2024 and sell it today you would earn a total of 59.00 from holding Dalian Thermal Power or generate 10.54% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Dalian Thermal Power vs. Easyhome New Retail
Performance |
| Timeline |
| Dalian Thermal Power |
| Easyhome New Retail |
Dalian Thermal and Easyhome New Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Dalian Thermal and Easyhome New
The main advantage of trading using opposite Dalian Thermal and Easyhome New positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Dalian Thermal position performs unexpectedly, Easyhome New 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 Easyhome New will offset losses from the drop in Easyhome New's long position.| Dalian Thermal vs. Xiamen Jihong Package | Dalian Thermal vs. Tederic Machinery Co | Dalian Thermal vs. Xiwang Foodstuffs Co | Dalian Thermal vs. Youyou Foods Co |
| Easyhome New vs. Shandong Publishing Media | Easyhome New vs. Shenzhen Noposion Agrochemicals | Easyhome New vs. Southern PublishingMedia Co | Easyhome New vs. Ningxia Younglight Chemicals |
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 Stocks Directory module to find actively traded stocks across global markets.
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