Correlation Between Qilu Bank and Easyhome New
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By analyzing existing cross correlation between Qilu Bank Co and Easyhome New Retail, you can compare the effects of market volatilities on Qilu Bank 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 Qilu Bank with a short position of Easyhome New. Check out your portfolio center. Please also check ongoing floating volatility patterns of Qilu Bank and Easyhome New.
Diversification Opportunities for Qilu Bank and Easyhome New
0.57 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Qilu and Easyhome is 0.57. Overlapping area represents the amount of risk that can be diversified away by holding Qilu Bank Co 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 Qilu 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 Qilu Bank Co 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 Qilu Bank i.e., Qilu Bank and Easyhome New go up and down completely randomly.
Pair Corralation between Qilu Bank and Easyhome New
Assuming the 90 days trading horizon Qilu Bank Co is expected to generate 0.68 times more return on investment than Easyhome New. However, Qilu Bank Co is 1.47 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 0.03 per unit of risk. If you would invest 371.00 in Qilu Bank Co on September 14, 2024 and sell it today you would earn a total of 163.00 from holding Qilu Bank Co or generate 43.94% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Qilu Bank Co vs. Easyhome New Retail
Performance |
| Timeline |
| Qilu Bank |
| Easyhome New Retail |
Qilu Bank and Easyhome New Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Qilu Bank and Easyhome New
The main advantage of trading using opposite Qilu Bank and Easyhome New positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Qilu Bank 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.| Qilu Bank vs. Cultural Investment Holdings | Qilu Bank vs. Gome Telecom Equipment | Qilu Bank vs. Holitech Technology Co | Qilu Bank vs. Zotye Automobile Co |
| Easyhome New vs. Ming Yang Smart | Easyhome New vs. 159681 | Easyhome New vs. 159005 | Easyhome New vs. Loctek Ergonomic Technology |
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 Forecasting module to use basic forecasting models to generate price predictions and determine price momentum.
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