Correlation Between Southern PublishingMedia and Epoxy Base
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By analyzing existing cross correlation between Southern PublishingMedia Co and Epoxy Base Electronic, you can compare the effects of market volatilities on Southern PublishingMedia and Epoxy Base 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 Southern PublishingMedia with a short position of Epoxy Base. Check out your portfolio center. Please also check ongoing floating volatility patterns of Southern PublishingMedia and Epoxy Base.
Diversification Opportunities for Southern PublishingMedia and Epoxy Base
0.9 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Southern and Epoxy is 0.9. Overlapping area represents the amount of risk that can be diversified away by holding Southern PublishingMedia Co and Epoxy Base Electronic in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Epoxy Base Electronic and Southern PublishingMedia 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 Southern PublishingMedia Co are associated (or correlated) with Epoxy Base. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Epoxy Base Electronic has no effect on the direction of Southern PublishingMedia i.e., Southern PublishingMedia and Epoxy Base go up and down completely randomly.
Pair Corralation between Southern PublishingMedia and Epoxy Base
Assuming the 90 days trading horizon Southern PublishingMedia Co is expected to under-perform the Epoxy Base. In addition to that, Southern PublishingMedia is 1.02 times more volatile than Epoxy Base Electronic. It trades about -0.02 of its total potential returns per unit of risk. Epoxy Base Electronic is currently generating about 0.03 per unit of volatility. If you would invest 487.00 in Epoxy Base Electronic on August 31, 2024 and sell it today you would earn a total of 98.00 from holding Epoxy Base Electronic or generate 20.12% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Southern PublishingMedia Co vs. Epoxy Base Electronic
Performance |
| Timeline |
| Southern PublishingMedia |
| Epoxy Base Electronic |
Southern PublishingMedia and Epoxy Base Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Southern PublishingMedia and Epoxy Base
The main advantage of trading using opposite Southern PublishingMedia and Epoxy Base positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Southern PublishingMedia position performs unexpectedly, Epoxy Base 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 Epoxy Base will offset losses from the drop in Epoxy Base's long position.| Southern PublishingMedia vs. BYD Co Ltd | Southern PublishingMedia vs. Agricultural Bank of | Southern PublishingMedia vs. Industrial and Commercial | Southern PublishingMedia vs. China State Construction |
| Epoxy Base vs. Linewell Software Co | Epoxy Base vs. Hubei Xingfa Chemicals | Epoxy Base vs. Shandong Polymer Biochemicals | Epoxy Base vs. Holitech Technology 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 Sync Your Broker module to sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors..
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