Correlation Between China Galaxy and Linewell Software
Specify exactly 2 symbols:
By analyzing existing cross correlation between China Galaxy Securities and Linewell Software Co, you can compare the effects of market volatilities on China Galaxy 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 China Galaxy with a short position of Linewell Software. Check out your portfolio center. Please also check ongoing floating volatility patterns of China Galaxy and Linewell Software.
Diversification Opportunities for China Galaxy and Linewell Software
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between China and Linewell is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding China Galaxy Securities and Linewell Software Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Linewell Software and China Galaxy 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 China Galaxy Securities 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 China Galaxy i.e., China Galaxy and Linewell Software go up and down completely randomly.
Pair Corralation between China Galaxy and Linewell Software
If you would invest 939.00 in Linewell Software Co on November 8, 2024 and sell it today you would earn a total of 461.00 from holding Linewell Software Co or generate 49.09% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.43% |
| Values | Daily Returns |
China Galaxy Securities vs. Linewell Software Co
Performance |
| Timeline |
| China Galaxy Securities |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| Linewell Software |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
OK
China Galaxy and Linewell Software Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with China Galaxy and Linewell Software
The main advantage of trading using opposite China Galaxy and Linewell Software positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if China Galaxy 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.The idea behind China Galaxy Securities and Linewell Software Co pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.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 Sectors module to list of equity sectors categorizing publicly traded companies based on their primary business activities.
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