Correlation Between Dongxing Sec and Linewell Software
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By analyzing existing cross correlation between Dongxing Sec Co and Linewell Software Co, you can compare the effects of market volatilities on Dongxing Sec and Linewell Software 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 Linewell Software. Check out your portfolio center. Please also check ongoing floating volatility patterns of Dongxing Sec and Linewell Software.
Diversification Opportunities for Dongxing Sec and Linewell Software
0.29 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Dongxing and Linewell is 0.29. Overlapping area represents the amount of risk that can be diversified away by holding Dongxing Sec Co and Linewell Software Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Linewell Software 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 Linewell Software. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Linewell Software has no effect on the direction of Dongxing Sec i.e., Dongxing Sec and Linewell Software go up and down completely randomly.
Pair Corralation between Dongxing Sec and Linewell Software
Assuming the 90 days trading horizon Dongxing Sec Co is expected to generate 1.22 times more return on investment than Linewell Software. However, Dongxing Sec is 1.22 times more volatile than Linewell Software Co. It trades about -0.18 of its potential returns per unit of risk. Linewell Software Co is currently generating about -0.33 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 | Very Weak |
| Accuracy | 95.45% |
| Values | Daily Returns |
Dongxing Sec Co vs. Linewell Software Co
Performance |
| Timeline |
| Dongxing Sec |
| Linewell Software |
Dongxing Sec and Linewell Software Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Dongxing Sec and Linewell Software
The main advantage of trading using opposite Dongxing Sec and Linewell Software positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Dongxing Sec position performs unexpectedly, Linewell Software 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 Linewell Software will offset losses from the drop in Linewell Software's long position.| Dongxing Sec vs. Chengdu Spaceon Electronics | Dongxing Sec vs. Anhui Transport Consulting | Dongxing Sec vs. JCHX Mining Management | Dongxing Sec vs. Chongqing Road Bridge |
| Linewell Software vs. China Life Insurance | Linewell Software vs. Cinda Securities Co | Linewell Software vs. Piotech Inc A | Linewell Software 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 Portfolio Anywhere module to track or share privately all of your investments from the convenience of any device.
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