Correlation Between Industrial Bank and De Rucci
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By analyzing existing cross correlation between Industrial Bank Co and De Rucci Healthy, you can compare the effects of market volatilities on Industrial Bank and De Rucci 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 Industrial Bank with a short position of De Rucci. Check out your portfolio center. Please also check ongoing floating volatility patterns of Industrial Bank and De Rucci.
Diversification Opportunities for Industrial Bank and De Rucci
-0.31 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Industrial and 001323 is -0.31. Overlapping area represents the amount of risk that can be diversified away by holding Industrial Bank Co and De Rucci Healthy in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on De Rucci Healthy and Industrial Bank 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 Industrial Bank Co are associated (or correlated) with De Rucci. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of De Rucci Healthy has no effect on the direction of Industrial Bank i.e., Industrial Bank and De Rucci go up and down completely randomly.
Pair Corralation between Industrial Bank and De Rucci
Assuming the 90 days trading horizon Industrial Bank Co is expected to generate 0.78 times more return on investment than De Rucci. However, Industrial Bank Co is 1.29 times less risky than De Rucci. It trades about 0.23 of its potential returns per unit of risk. De Rucci Healthy is currently generating about -0.08 per unit of risk. If you would invest 1,819 in Industrial Bank Co on November 2, 2024 and sell it today you would earn a total of 212.00 from holding Industrial Bank Co or generate 11.65% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Industrial Bank Co vs. De Rucci Healthy
Performance |
| Timeline |
| Industrial Bank |
| De Rucci Healthy |
Industrial Bank and De Rucci Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Industrial Bank and De Rucci
The main advantage of trading using opposite Industrial Bank and De Rucci positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Industrial Bank position performs unexpectedly, De Rucci 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 De Rucci will offset losses from the drop in De Rucci's long position.| Industrial Bank vs. Sharetronic Data Technology | Industrial Bank vs. Sinofibers Technology Co | Industrial Bank vs. Bank of Suzhou | Industrial Bank vs. Xiamen Bank Co |
| De Rucci vs. CICC Fund Management | De Rucci vs. Chengdu B ray Media | De Rucci vs. Duzhe Publishing Media | De Rucci vs. Guangzhou Jinyi Media |
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 Analyzer module to analyze all characteristics, volatility and risk-adjusted return of Macroaxis ideas.
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