Correlation Between Qilu Bank and Inner Mongolia
Specify exactly 2 symbols:
By analyzing existing cross correlation between Qilu Bank Co and Inner Mongolia BaoTou, you can compare the effects of market volatilities on Qilu Bank and Inner Mongolia 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 Inner Mongolia. Check out your portfolio center. Please also check ongoing floating volatility patterns of Qilu Bank and Inner Mongolia.
Diversification Opportunities for Qilu Bank and Inner Mongolia
0.79 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Qilu and Inner is 0.79. Overlapping area represents the amount of risk that can be diversified away by holding Qilu Bank Co and Inner Mongolia BaoTou in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Inner Mongolia BaoTou 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 Inner Mongolia. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Inner Mongolia BaoTou has no effect on the direction of Qilu Bank i.e., Qilu Bank and Inner Mongolia go up and down completely randomly.
Pair Corralation between Qilu Bank and Inner Mongolia
Assuming the 90 days trading horizon Qilu Bank Co is expected to generate 0.92 times more return on investment than Inner Mongolia. However, Qilu Bank Co is 1.09 times less risky than Inner Mongolia. It trades about 0.04 of its potential returns per unit of risk. Inner Mongolia BaoTou is currently generating about 0.0 per unit of risk. If you would invest 394.00 in Qilu Bank Co on August 25, 2024 and sell it today you would earn a total of 106.00 from holding Qilu Bank Co or generate 26.9% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Qilu Bank Co vs. Inner Mongolia BaoTou
Performance |
| Timeline |
| Qilu Bank |
| Inner Mongolia BaoTou |
Qilu Bank and Inner Mongolia Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Qilu Bank and Inner Mongolia
The main advantage of trading using opposite Qilu Bank and Inner Mongolia positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Qilu Bank position performs unexpectedly, Inner Mongolia 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 Inner Mongolia will offset losses from the drop in Inner Mongolia's long position.| Qilu Bank vs. Lutian Machinery Co | Qilu Bank vs. Sinosteel Engineering and | Qilu Bank vs. Gansu Jiu Steel | Qilu Bank vs. GreenTech Environmental Co |
| Inner Mongolia vs. Focus Media Information | Inner Mongolia vs. Qilu Bank Co | Inner Mongolia vs. Dalian Zeus Entertainment | Inner Mongolia vs. Jiangsu Financial Leasing |
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 Price Exposure Probability module to analyze equity upside and downside potential for a given time horizon across multiple markets.
Other Complementary Tools
| Efficient Frontier Plot and analyze your portfolio and positions against risk-return landscape of the market. | |
| Portfolio Comparator Compare the composition, asset allocations and performance of any two portfolios in your account | |
| Companies Directory Evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals | |
| Piotroski F Score Get Piotroski F Score based on the binary analysis strategy of nine different fundamentals | |
| Risk-Return Analysis View associations between returns expected from investment and the risk you assume |