Correlation Between Luyin Investment and Sharetronic Data
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By analyzing existing cross correlation between Luyin Investment Group and Sharetronic Data Technology, you can compare the effects of market volatilities on Luyin Investment and Sharetronic Data 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 Luyin Investment with a short position of Sharetronic Data. Check out your portfolio center. Please also check ongoing floating volatility patterns of Luyin Investment and Sharetronic Data.
Diversification Opportunities for Luyin Investment and Sharetronic Data
0.93 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Luyin and Sharetronic is 0.93. Overlapping area represents the amount of risk that can be diversified away by holding Luyin Investment Group and Sharetronic Data Technology in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Sharetronic Data Tec and Luyin 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 Luyin Investment Group are associated (or correlated) with Sharetronic Data. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Sharetronic Data Tec has no effect on the direction of Luyin Investment i.e., Luyin Investment and Sharetronic Data go up and down completely randomly.
Pair Corralation between Luyin Investment and Sharetronic Data
Assuming the 90 days trading horizon Luyin Investment is expected to generate 9.21 times less return on investment than Sharetronic Data. But when comparing it to its historical volatility, Luyin Investment Group is 1.98 times less risky than Sharetronic Data. It trades about 0.02 of its potential returns per unit of risk. Sharetronic Data Technology is currently generating about 0.1 of returns per unit of risk over similar time horizon. If you would invest 4,561 in Sharetronic Data Technology on September 14, 2024 and sell it today you would earn a total of 6,209 from holding Sharetronic Data Technology or generate 136.13% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 99.62% |
| Values | Daily Returns |
Luyin Investment Group vs. Sharetronic Data Technology
Performance |
| Timeline |
| Luyin Investment |
| Sharetronic Data Tec |
Luyin Investment and Sharetronic Data Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Luyin Investment and Sharetronic Data
The main advantage of trading using opposite Luyin Investment and Sharetronic Data positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Luyin Investment position performs unexpectedly, Sharetronic Data 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 Sharetronic Data will offset losses from the drop in Sharetronic Data's long position.| Luyin Investment vs. Zijin Mining Group | Luyin Investment vs. Wanhua Chemical Group | Luyin Investment vs. Baoshan Iron Steel | Luyin Investment vs. Shandong Gold Mining |
| Sharetronic Data vs. ButOne Information Corp | Sharetronic Data vs. Zoje Resources Investment | Sharetronic Data vs. Luyin Investment Group | Sharetronic Data vs. Tianshan Aluminum Group |
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 Price Ceiling Movement module to calculate and plot Price Ceiling Movement for different equity instruments.
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