Correlation Between Epoxy Base and Suzhou Douson
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By analyzing existing cross correlation between Epoxy Base Electronic and Suzhou Douson Drilling, you can compare the effects of market volatilities on Epoxy Base and Suzhou Douson 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 Suzhou Douson. Check out your portfolio center. Please also check ongoing floating volatility patterns of Epoxy Base and Suzhou Douson.
Diversification Opportunities for Epoxy Base and Suzhou Douson
0.4 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Epoxy and Suzhou is 0.4. Overlapping area represents the amount of risk that can be diversified away by holding Epoxy Base Electronic and Suzhou Douson Drilling in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Suzhou Douson Drilling 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 Suzhou Douson. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Suzhou Douson Drilling has no effect on the direction of Epoxy Base i.e., Epoxy Base and Suzhou Douson go up and down completely randomly.
Pair Corralation between Epoxy Base and Suzhou Douson
Assuming the 90 days trading horizon Epoxy Base Electronic is expected to generate 1.03 times more return on investment than Suzhou Douson. However, Epoxy Base is 1.03 times more volatile than Suzhou Douson Drilling. It trades about 0.0 of its potential returns per unit of risk. Suzhou Douson Drilling is currently generating about 0.0 per unit of risk. If you would invest 575.00 in Epoxy Base Electronic on October 28, 2024 and sell it today you would lose (8.00) from holding Epoxy Base Electronic or give up 1.39% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Epoxy Base Electronic vs. Suzhou Douson Drilling
Performance |
| Timeline |
| Epoxy Base Electronic |
| Suzhou Douson Drilling |
Epoxy Base and Suzhou Douson Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Epoxy Base and Suzhou Douson
The main advantage of trading using opposite Epoxy Base and Suzhou Douson positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Epoxy Base position performs unexpectedly, Suzhou Douson 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 Suzhou Douson will offset losses from the drop in Suzhou Douson's long position.| Epoxy Base vs. Xizi Clean Energy | Epoxy Base vs. Ziel Home Furnishing | Epoxy Base vs. Zoy Home Furnishing | Epoxy Base vs. Shandong Longquan Pipeline |
| Suzhou Douson vs. Xiangyu Medical Co | Suzhou Douson vs. Kontour Medical Technology | Suzhou Douson vs. Tinavi Medical Technologies | Suzhou Douson vs. Nexchip Semiconductor Corp |
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 Portfolio Backtesting module to avoid under-diversification and over-optimization by backtesting your portfolios.
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