Correlation Between Inspur Software and Guangdong Marubi
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By analyzing existing cross correlation between Inspur Software Co and Guangdong Marubi Biotechnology, you can compare the effects of market volatilities on Inspur Software and Guangdong Marubi 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 Guangdong Marubi. Check out your portfolio center. Please also check ongoing floating volatility patterns of Inspur Software and Guangdong Marubi.
Diversification Opportunities for Inspur Software and Guangdong Marubi
-0.21 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Inspur and Guangdong is -0.21. Overlapping area represents the amount of risk that can be diversified away by holding Inspur Software Co and Guangdong Marubi Biotechnology in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Guangdong Marubi Bio 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 Guangdong Marubi. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Guangdong Marubi Bio has no effect on the direction of Inspur Software i.e., Inspur Software and Guangdong Marubi go up and down completely randomly.
Pair Corralation between Inspur Software and Guangdong Marubi
Assuming the 90 days trading horizon Inspur Software Co is expected to generate 1.16 times more return on investment than Guangdong Marubi. However, Inspur Software is 1.16 times more volatile than Guangdong Marubi Biotechnology. It trades about 0.04 of its potential returns per unit of risk. Guangdong Marubi Biotechnology is currently generating about 0.04 per unit of risk. If you would invest 1,118 in Inspur Software Co on October 18, 2024 and sell it today you would earn a total of 274.00 from holding Inspur Software Co or generate 24.51% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Inspur Software Co vs. Guangdong Marubi Biotechnology
Performance |
| Timeline |
| Inspur Software |
| Guangdong Marubi Bio |
Inspur Software and Guangdong Marubi Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Inspur Software and Guangdong Marubi
The main advantage of trading using opposite Inspur Software and Guangdong Marubi positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Inspur Software position performs unexpectedly, Guangdong Marubi 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 Guangdong Marubi will offset losses from the drop in Guangdong Marubi's long position.| Inspur Software vs. Sichuan Jinshi Technology | Inspur Software vs. GreenTech Environmental Co | Inspur Software vs. Anyang Iron Steel | Inspur Software vs. Jonjee Hi tech Industrial |
| Guangdong Marubi vs. King Strong New Material | Guangdong Marubi vs. Shanghai Shibei Hi Tech | Guangdong Marubi vs. Fujian Newland Computer | Guangdong Marubi vs. Strait Innovation Internet |
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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