Correlation Between Inspur Software and Bingo Software
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By analyzing existing cross correlation between Inspur Software Co and Bingo Software Co, you can compare the effects of market volatilities on Inspur Software and Bingo Software 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 Bingo Software. Check out your portfolio center. Please also check ongoing floating volatility patterns of Inspur Software and Bingo Software.
Diversification Opportunities for Inspur Software and Bingo Software
0.24 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Inspur and Bingo is 0.24. Overlapping area represents the amount of risk that can be diversified away by holding Inspur Software Co and Bingo Software Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Bingo Software 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 Bingo Software. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bingo Software has no effect on the direction of Inspur Software i.e., Inspur Software and Bingo Software go up and down completely randomly.
Pair Corralation between Inspur Software and Bingo Software
Assuming the 90 days trading horizon Inspur Software Co is expected to under-perform the Bingo Software. But the stock apears to be less risky and, when comparing its historical volatility, Inspur Software Co is 1.45 times less risky than Bingo Software. The stock trades about 0.0 of its potential returns per unit of risk. The Bingo Software Co is currently generating about 0.18 of returns per unit of risk over similar time horizon. If you would invest 1,475 in Bingo Software Co on October 14, 2024 and sell it today you would earn a total of 925.00 from holding Bingo Software Co or generate 62.71% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Inspur Software Co vs. Bingo Software Co
Performance |
| Timeline |
| Inspur Software |
| Bingo Software |
Inspur Software and Bingo Software Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Inspur Software and Bingo Software
The main advantage of trading using opposite Inspur Software and Bingo Software positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Inspur Software position performs unexpectedly, Bingo Software 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 Bingo Software will offset losses from the drop in Bingo Software's long position.| Inspur Software vs. Jiangsu GDK Biotechnology | Inspur Software vs. Hubei Forbon Technology | Inspur Software vs. ROPEOK Technology Group | Inspur Software vs. Maxvision Technology Corp |
| Bingo Software vs. Great Sun Foods Co | Bingo Software vs. Xinjiang Tianrun Dairy | Bingo Software vs. Hangzhou Guotai Environmental | Bingo Software vs. Ping An Insurance |
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 Manager module to state of the art Portfolio Manager to monitor and improve performance of your invested capital.
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