Correlation Between Epoxy Base and Winner Medical Co
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By analyzing existing cross correlation between Epoxy Base Electronic and Winner Medical Co, you can compare the effects of market volatilities on Epoxy Base and Winner Medical Co 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 Winner Medical Co. Check out your portfolio center. Please also check ongoing floating volatility patterns of Epoxy Base and Winner Medical Co.
Diversification Opportunities for Epoxy Base and Winner Medical Co
-0.07 | Correlation Coefficient |
Good diversification
The 3 months correlation between Epoxy and Winner is -0.07. Overlapping area represents the amount of risk that can be diversified away by holding Epoxy Base Electronic and Winner Medical Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Winner Medical Co 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 Winner Medical Co. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Winner Medical Co has no effect on the direction of Epoxy Base i.e., Epoxy Base and Winner Medical Co go up and down completely randomly.
Pair Corralation between Epoxy Base and Winner Medical Co
Assuming the 90 days trading horizon Epoxy Base Electronic is expected to generate 1.4 times more return on investment than Winner Medical Co. However, Epoxy Base is 1.4 times more volatile than Winner Medical Co. It trades about 0.45 of its potential returns per unit of risk. Winner Medical Co is currently generating about -0.21 per unit of risk. If you would invest 553.00 in Epoxy Base Electronic on November 29, 2024 and sell it today you would earn a total of 136.00 from holding Epoxy Base Electronic or generate 24.59% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Epoxy Base Electronic vs. Winner Medical Co
Performance |
| Timeline |
| Epoxy Base Electronic |
| Winner Medical Co |
Epoxy Base and Winner Medical Co Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Epoxy Base and Winner Medical Co
The main advantage of trading using opposite Epoxy Base and Winner Medical Co positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Epoxy Base position performs unexpectedly, Winner Medical Co 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 Winner Medical Co will offset losses from the drop in Winner Medical Co's long position.| Epoxy Base vs. Zhejiang Yinlun Machinery | Epoxy Base vs. Lander Sports Development | Epoxy Base vs. MayAir Technology Co | Epoxy Base vs. Huitong Construction Group |
| Winner Medical Co vs. Spring Airlines Co | Winner Medical Co vs. Huawen Media Investment | Winner Medical Co vs. Shengda Mining Co | Winner Medical Co vs. Zijin Mining Group |
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 Stock Screener module to find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook..
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