Correlation Between Inspur Software and Winner Medical
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By analyzing existing cross correlation between Inspur Software Co and Winner Medical Co, you can compare the effects of market volatilities on Inspur Software 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 Inspur Software with a short position of Winner Medical. Check out your portfolio center. Please also check ongoing floating volatility patterns of Inspur Software and Winner Medical.
Diversification Opportunities for Inspur Software and Winner Medical
0.83 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Inspur and Winner is 0.83. Overlapping area represents the amount of risk that can be diversified away by holding Inspur Software Co and Winner Medical Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Winner Medical and Inspur Software 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 Inspur Software Co 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 Inspur Software i.e., Inspur Software and Winner Medical go up and down completely randomly.
Pair Corralation between Inspur Software and Winner Medical
Assuming the 90 days trading horizon Inspur Software Co is expected to generate 1.22 times more return on investment than Winner Medical. However, Inspur Software is 1.22 times more volatile than Winner Medical Co. It trades about 0.03 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 1,325 in Inspur Software Co on September 12, 2024 and sell it today you would earn a total of 292.00 from holding Inspur Software Co or generate 22.04% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Inspur Software Co vs. Winner Medical Co
Performance |
| Timeline |
| Inspur Software |
| Winner Medical |
Inspur Software and Winner Medical Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Inspur Software and Winner Medical
The main advantage of trading using opposite Inspur Software and Winner Medical positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Inspur Software 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.| Inspur Software vs. Liaoning Chengda Biotechnology | Inspur Software vs. Yingde Greatchem Chemicals | Inspur Software vs. Jiahe Foods Industry | Inspur Software vs. Guangdong Wens Foodstuff |
| Winner Medical vs. PKU HealthCare Corp | Winner Medical vs. Inspur Software Co | Winner Medical vs. Kingclean Electric Co | Winner Medical vs. Sanbo Hospital Management |
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 File Import module to quickly import all of your third-party portfolios from your local drive in csv format.
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