Correlation Between Dongxing Sec and 360 Security
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By analyzing existing cross correlation between Dongxing Sec Co and 360 Security Technology, you can compare the effects of market volatilities on Dongxing Sec and 360 Security 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 Dongxing Sec with a short position of 360 Security. Check out your portfolio center. Please also check ongoing floating volatility patterns of Dongxing Sec and 360 Security.
Diversification Opportunities for Dongxing Sec and 360 Security
0.45 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Dongxing and 360 is 0.45. Overlapping area represents the amount of risk that can be diversified away by holding Dongxing Sec Co and 360 Security Technology in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on 360 Security Technology and Dongxing Sec 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 Dongxing Sec Co are associated (or correlated) with 360 Security. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of 360 Security Technology has no effect on the direction of Dongxing Sec i.e., Dongxing Sec and 360 Security go up and down completely randomly.
Pair Corralation between Dongxing Sec and 360 Security
Assuming the 90 days trading horizon Dongxing Sec Co is expected to generate 1.03 times more return on investment than 360 Security. However, Dongxing Sec is 1.03 times more volatile than 360 Security Technology. It trades about -0.18 of its potential returns per unit of risk. 360 Security Technology is currently generating about -0.49 per unit of risk. If you would invest 1,193 in Dongxing Sec Co on October 12, 2024 and sell it today you would lose (127.00) from holding Dongxing Sec Co or give up 10.65% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Dongxing Sec Co vs. 360 Security Technology
Performance |
| Timeline |
| Dongxing Sec |
| 360 Security Technology |
Dongxing Sec and 360 Security Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Dongxing Sec and 360 Security
The main advantage of trading using opposite Dongxing Sec and 360 Security positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Dongxing Sec position performs unexpectedly, 360 Security 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 360 Security will offset losses from the drop in 360 Security's long position.| Dongxing Sec vs. Shijiazhuang Tonhe Electronics | Dongxing Sec vs. Financial Street Holdings | Dongxing Sec vs. Agricultural Bank of | Dongxing Sec vs. Beijing YanDong MicroElectronic |
| 360 Security vs. China Life Insurance | 360 Security vs. Cinda Securities Co | 360 Security vs. Piotech Inc A | 360 Security vs. Dongxing Sec 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 Idea Optimizer module to use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio .
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