Correlation Between Dr Peng and Integrated Electronic
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By analyzing existing cross correlation between Dr Peng Telecom and Integrated Electronic Systems, you can compare the effects of market volatilities on Dr Peng and Integrated Electronic 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 Dr Peng with a short position of Integrated Electronic. Check out your portfolio center. Please also check ongoing floating volatility patterns of Dr Peng and Integrated Electronic.
Diversification Opportunities for Dr Peng and Integrated Electronic
0.48 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between 600804 and Integrated is 0.48. Overlapping area represents the amount of risk that can be diversified away by holding Dr Peng Telecom and Integrated Electronic Systems in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Integrated Electronic and Dr Peng 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 Dr Peng Telecom are associated (or correlated) with Integrated Electronic. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Integrated Electronic has no effect on the direction of Dr Peng i.e., Dr Peng and Integrated Electronic go up and down completely randomly.
Pair Corralation between Dr Peng and Integrated Electronic
Assuming the 90 days trading horizon Dr Peng Telecom is expected to generate 0.81 times more return on investment than Integrated Electronic. However, Dr Peng Telecom is 1.24 times less risky than Integrated Electronic. It trades about -0.1 of its potential returns per unit of risk. Integrated Electronic Systems is currently generating about -0.15 per unit of risk. If you would invest 213.00 in Dr Peng Telecom on October 14, 2024 and sell it today you would lose (22.00) from holding Dr Peng Telecom or give up 10.33% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Dr Peng Telecom vs. Integrated Electronic Systems
Performance |
| Timeline |
| Dr Peng Telecom |
| Integrated Electronic |
Dr Peng and Integrated Electronic Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Dr Peng and Integrated Electronic
The main advantage of trading using opposite Dr Peng and Integrated Electronic positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Dr Peng position performs unexpectedly, Integrated Electronic 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 Integrated Electronic will offset losses from the drop in Integrated Electronic's long position.| Dr Peng vs. Kuangda Technology Group | Dr Peng vs. Dhc Software Co | Dr Peng vs. HUAQIN TECHNOLOGY LTD | Dr Peng vs. HanS Laser Tech |
| Integrated Electronic vs. Wuhan Yangtze Communication | Integrated Electronic vs. Dr Peng Telecom | Integrated Electronic vs. Beijing Kingsoft Office | Integrated Electronic vs. Eastern Communications Co |
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 ETF Categories module to list of ETF categories grouped based on various criteria, such as the investment strategy or type of investments.
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