Correlation Between Luyin Investment and Shenzhen
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By analyzing existing cross correlation between Luyin Investment Group and Shenzhen AV Display Co, you can compare the effects of market volatilities on Luyin Investment and Shenzhen 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 Shenzhen. Check out your portfolio center. Please also check ongoing floating volatility patterns of Luyin Investment and Shenzhen.
Diversification Opportunities for Luyin Investment and Shenzhen
0.58 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Luyin and Shenzhen is 0.58. Overlapping area represents the amount of risk that can be diversified away by holding Luyin Investment Group and Shenzhen AV Display Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Shenzhen AV Display 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 Shenzhen. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Shenzhen AV Display has no effect on the direction of Luyin Investment i.e., Luyin Investment and Shenzhen go up and down completely randomly.
Pair Corralation between Luyin Investment and Shenzhen
Assuming the 90 days trading horizon Luyin Investment Group is expected to generate 0.86 times more return on investment than Shenzhen. However, Luyin Investment Group is 1.17 times less risky than Shenzhen. It trades about -0.07 of its potential returns per unit of risk. Shenzhen AV Display Co is currently generating about -0.07 per unit of risk. If you would invest 635.00 in Luyin Investment Group on November 3, 2024 and sell it today you would lose (49.00) from holding Luyin Investment Group or give up 7.72% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Luyin Investment Group vs. Shenzhen AV Display Co
Performance |
| Timeline |
| Luyin Investment |
| Shenzhen AV Display |
Luyin Investment and Shenzhen Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Luyin Investment and Shenzhen
The main advantage of trading using opposite Luyin Investment and Shenzhen positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Luyin Investment position performs unexpectedly, Shenzhen 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 Shenzhen will offset losses from the drop in Shenzhen's long position.| Luyin Investment vs. Yoantion Industrial IncLtd | Luyin Investment vs. Beijing Yanjing Brewery | Luyin Investment vs. Chison Medical Technologies | Luyin Investment vs. Hengli Industrial Development |
| Shenzhen vs. Nanjing Putian Telecommunications | Shenzhen vs. Liuzhou Chemical Industry | Shenzhen vs. Xilong Chemical Co | Shenzhen vs. China Life 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 Odds Of Bankruptcy module to get analysis of equity chance of financial distress in the next 2 years.
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