Correlation Between Qilu Bank and Dow Jones
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By analyzing existing cross correlation between Qilu Bank Co and Dow Jones Industrial, you can compare the effects of market volatilities on Qilu Bank and Dow Jones 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 Dow Jones. Check out your portfolio center. Please also check ongoing floating volatility patterns of Qilu Bank and Dow Jones.
Diversification Opportunities for Qilu Bank and Dow Jones
Very weak diversification
The 3 months correlation between Qilu and Dow is 0.53. Overlapping area represents the amount of risk that can be diversified away by holding Qilu Bank Co and Dow Jones Industrial in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Dow Jones Industrial 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 Dow Jones. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Dow Jones Industrial has no effect on the direction of Qilu Bank i.e., Qilu Bank and Dow Jones go up and down completely randomly.
Pair Corralation between Qilu Bank and Dow Jones
Assuming the 90 days trading horizon Qilu Bank Co is expected to under-perform the Dow Jones. In addition to that, Qilu Bank is 1.98 times more volatile than Dow Jones Industrial. It trades about -0.12 of its total potential returns per unit of risk. Dow Jones Industrial is currently generating about 0.26 per unit of volatility. If you would invest 4,238,757 in Dow Jones Industrial on August 29, 2024 and sell it today you would earn a total of 247,274 from holding Dow Jones Industrial or generate 5.83% 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. Dow Jones Industrial
Performance |
| Timeline |
Qilu Bank and Dow Jones Volatility Contrast
Predicted Return Density |
| Returns |
Qilu Bank Co
Pair trading matchups for Qilu Bank
Dow Jones Industrial
Pair trading matchups for Dow Jones
Pair Trading with Qilu Bank and Dow Jones
The main advantage of trading using opposite Qilu Bank and Dow Jones positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Qilu Bank position performs unexpectedly, Dow Jones 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 Dow Jones will offset losses from the drop in Dow Jones' long position.| Qilu Bank vs. Kweichow Moutai Co | Qilu Bank vs. Contemporary Amperex Technology | Qilu Bank vs. G bits Network Technology | Qilu Bank vs. BYD Co Ltd |
| Dow Jones vs. Kaltura | Dow Jones vs. Artisan Partners Asset | Dow Jones vs. US Global Investors | Dow Jones vs. Analog Devices |
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 ETF Categories module to list of ETF categories grouped based on various criteria, such as the investment strategy or type of investments.
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