Correlation Between Epoxy Base and China Vanke
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By analyzing existing cross correlation between Epoxy Base Electronic and China Vanke Co, you can compare the effects of market volatilities on Epoxy Base and China Vanke 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 Epoxy Base with a short position of China Vanke. Check out your portfolio center. Please also check ongoing floating volatility patterns of Epoxy Base and China Vanke.
Diversification Opportunities for Epoxy Base and China Vanke
-0.04 | Correlation Coefficient |
Good diversification
The 3 months correlation between Epoxy and China is -0.04. Overlapping area represents the amount of risk that can be diversified away by holding Epoxy Base Electronic and China Vanke Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on China Vanke and Epoxy Base 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 Epoxy Base Electronic are associated (or correlated) with China Vanke. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of China Vanke has no effect on the direction of Epoxy Base i.e., Epoxy Base and China Vanke go up and down completely randomly.
Pair Corralation between Epoxy Base and China Vanke
Assuming the 90 days trading horizon Epoxy Base Electronic is expected to generate 1.95 times more return on investment than China Vanke. However, Epoxy Base is 1.95 times more volatile than China Vanke Co. It trades about 0.01 of its potential returns per unit of risk. China Vanke Co is currently generating about -0.12 per unit of risk. If you would invest 575.00 in Epoxy Base Electronic on October 26, 2024 and sell it today you would lose (12.00) from holding Epoxy Base Electronic or give up 2.09% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Epoxy Base Electronic vs. China Vanke Co
Performance |
| Timeline |
| Epoxy Base Electronic |
| China Vanke |
Epoxy Base and China Vanke Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Epoxy Base and China Vanke
The main advantage of trading using opposite Epoxy Base and China Vanke positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Epoxy Base position performs unexpectedly, China Vanke 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 China Vanke will offset losses from the drop in China Vanke's long position.| Epoxy Base vs. Eyebright Medical Technology | Epoxy Base vs. Jinyu Bio Technology Co | Epoxy Base vs. Hubei Forbon Technology | Epoxy Base vs. Uxi Unicomp Technology |
| China Vanke vs. Ningbo Kangqiang Electronics | China Vanke vs. Anhui Jianghuai Automobile | China Vanke vs. Huizhou Speed Wireless | China Vanke vs. Epoxy Base Electronic |
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 Search module to search for actively traded equities including funds and ETFs from over 30 global markets.
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