Correlation Between China Mobile and Easyhome New
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By analyzing existing cross correlation between China Mobile Limited and Easyhome New Retail, you can compare the effects of market volatilities on China Mobile and Easyhome New 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 China Mobile with a short position of Easyhome New. Check out your portfolio center. Please also check ongoing floating volatility patterns of China Mobile and Easyhome New.
Diversification Opportunities for China Mobile and Easyhome New
0.74 | Correlation Coefficient |
Poor diversification
The 3 months correlation between China and Easyhome is 0.74. Overlapping area represents the amount of risk that can be diversified away by holding China Mobile Limited and Easyhome New Retail in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Easyhome New Retail and China Mobile 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 China Mobile Limited are associated (or correlated) with Easyhome New. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Easyhome New Retail has no effect on the direction of China Mobile i.e., China Mobile and Easyhome New go up and down completely randomly.
Pair Corralation between China Mobile and Easyhome New
Assuming the 90 days trading horizon China Mobile Limited is expected to generate 0.66 times more return on investment than Easyhome New. However, China Mobile Limited is 1.52 times less risky than Easyhome New. It trades about 0.06 of its potential returns per unit of risk. Easyhome New Retail is currently generating about 0.0 per unit of risk. If you would invest 7,408 in China Mobile Limited on October 20, 2024 and sell it today you would earn a total of 3,502 from holding China Mobile Limited or generate 47.27% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
China Mobile Limited vs. Easyhome New Retail
Performance |
| Timeline |
| China Mobile Limited |
| Easyhome New Retail |
China Mobile and Easyhome New Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with China Mobile and Easyhome New
The main advantage of trading using opposite China Mobile and Easyhome New positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if China Mobile position performs unexpectedly, Easyhome New 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 Easyhome New will offset losses from the drop in Easyhome New's long position.| China Mobile vs. Glodon Software Co | China Mobile vs. Dezhan HealthCare Co | China Mobile vs. Andon Health Co | China Mobile vs. Anhui Huaren Health |
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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 Equity Search module to search for actively traded equities including funds and ETFs from over 30 global markets.
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