Correlation Between Epoxy Base and Zhejiang Zanyu
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By analyzing existing cross correlation between Epoxy Base Electronic and Zhejiang Zanyu Technology, you can compare the effects of market volatilities on Epoxy Base and Zhejiang Zanyu 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 Zhejiang Zanyu. Check out your portfolio center. Please also check ongoing floating volatility patterns of Epoxy Base and Zhejiang Zanyu.
Diversification Opportunities for Epoxy Base and Zhejiang Zanyu
0.89 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Epoxy and Zhejiang is 0.89. Overlapping area represents the amount of risk that can be diversified away by holding Epoxy Base Electronic and Zhejiang Zanyu Technology in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Zhejiang Zanyu Technology 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 Zhejiang Zanyu. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Zhejiang Zanyu Technology has no effect on the direction of Epoxy Base i.e., Epoxy Base and Zhejiang Zanyu go up and down completely randomly.
Pair Corralation between Epoxy Base and Zhejiang Zanyu
Assuming the 90 days trading horizon Epoxy Base Electronic is expected to generate 1.55 times more return on investment than Zhejiang Zanyu. However, Epoxy Base is 1.55 times more volatile than Zhejiang Zanyu Technology. It trades about 0.04 of its potential returns per unit of risk. Zhejiang Zanyu Technology is currently generating about 0.0 per unit of risk. If you would invest 472.00 in Epoxy Base Electronic on September 13, 2024 and sell it today you would earn a total of 163.00 from holding Epoxy Base Electronic or generate 34.53% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 99.79% |
| Values | Daily Returns |
Epoxy Base Electronic vs. Zhejiang Zanyu Technology
Performance |
| Timeline |
| Epoxy Base Electronic |
| Zhejiang Zanyu Technology |
Epoxy Base and Zhejiang Zanyu Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Epoxy Base and Zhejiang Zanyu
The main advantage of trading using opposite Epoxy Base and Zhejiang Zanyu positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Epoxy Base position performs unexpectedly, Zhejiang Zanyu 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 Zhejiang Zanyu will offset losses from the drop in Zhejiang Zanyu's long position.| Epoxy Base vs. Zijin Mining Group | Epoxy Base vs. Wanhua Chemical Group | Epoxy Base vs. Baoshan Iron Steel | Epoxy Base vs. Shandong Gold Mining |
| Zhejiang Zanyu vs. TongFu Microelectronics Co | Zhejiang Zanyu vs. Peoples Insurance of | Zhejiang Zanyu vs. Success Electronics | Zhejiang Zanyu 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 Money Managers module to screen money managers from public funds and ETFs managed around the world.
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