Correlation Between Luyin Investment and Grandblue Environment
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By analyzing existing cross correlation between Luyin Investment Group and Grandblue Environment Co, you can compare the effects of market volatilities on Luyin Investment and Grandblue Environment 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 Grandblue Environment. Check out your portfolio center. Please also check ongoing floating volatility patterns of Luyin Investment and Grandblue Environment.
Diversification Opportunities for Luyin Investment and Grandblue Environment
0.75 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Luyin and Grandblue is 0.75. Overlapping area represents the amount of risk that can be diversified away by holding Luyin Investment Group and Grandblue Environment Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Grandblue Environment 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 Grandblue Environment. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Grandblue Environment has no effect on the direction of Luyin Investment i.e., Luyin Investment and Grandblue Environment go up and down completely randomly.
Pair Corralation between Luyin Investment and Grandblue Environment
Assuming the 90 days trading horizon Luyin Investment is expected to generate 1.02 times less return on investment than Grandblue Environment. In addition to that, Luyin Investment is 1.24 times more volatile than Grandblue Environment Co. It trades about 0.1 of its total potential returns per unit of risk. Grandblue Environment Co is currently generating about 0.13 per unit of volatility. If you would invest 2,222 in Grandblue Environment Co on September 21, 2024 and sell it today you would earn a total of 89.00 from holding Grandblue Environment Co or generate 4.01% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Luyin Investment Group vs. Grandblue Environment Co
Performance |
| Timeline |
| Luyin Investment |
| Grandblue Environment |
Luyin Investment and Grandblue Environment Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Luyin Investment and Grandblue Environment
The main advantage of trading using opposite Luyin Investment and Grandblue Environment positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Luyin Investment position performs unexpectedly, Grandblue Environment 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 Grandblue Environment will offset losses from the drop in Grandblue Environment's long position.| Luyin Investment vs. Wanhua Chemical Group | Luyin Investment vs. Baoshan Iron Steel | Luyin Investment vs. Shandong Gold Mining | Luyin Investment vs. Rongsheng Petrochemical Co |
| Grandblue Environment vs. Luyin Investment Group | Grandblue Environment vs. Kunwu Jiuding Investment | Grandblue Environment vs. Shanxi Lanhua Sci Tech | Grandblue Environment vs. Chengdu Xingrong Investment |
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 Idea Optimizer module to use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio .
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