Correlation Between Epoxy Base and Hygon Information
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By analyzing existing cross correlation between Epoxy Base Electronic and Hygon Information Technology, you can compare the effects of market volatilities on Epoxy Base and Hygon Information 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 Hygon Information. Check out your portfolio center. Please also check ongoing floating volatility patterns of Epoxy Base and Hygon Information.
Diversification Opportunities for Epoxy Base and Hygon Information
0.01 | Correlation Coefficient |
Significant diversification
The 3 months correlation between Epoxy and Hygon is 0.01. Overlapping area represents the amount of risk that can be diversified away by holding Epoxy Base Electronic and Hygon Information Technology in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Hygon Information 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 Hygon Information. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Hygon Information has no effect on the direction of Epoxy Base i.e., Epoxy Base and Hygon Information go up and down completely randomly.
Pair Corralation between Epoxy Base and Hygon Information
Assuming the 90 days trading horizon Epoxy Base is expected to generate 1.24 times less return on investment than Hygon Information. In addition to that, Epoxy Base is 1.07 times more volatile than Hygon Information Technology. It trades about 0.06 of its total potential returns per unit of risk. Hygon Information Technology is currently generating about 0.09 per unit of volatility. If you would invest 12,420 in Hygon Information Technology on October 14, 2024 and sell it today you would earn a total of 2,250 from holding Hygon Information Technology or generate 18.12% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Epoxy Base Electronic vs. Hygon Information Technology
Performance |
| Timeline |
| Epoxy Base Electronic |
| Hygon Information |
Epoxy Base and Hygon Information Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Epoxy Base and Hygon Information
The main advantage of trading using opposite Epoxy Base and Hygon Information positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Epoxy Base position performs unexpectedly, Hygon Information 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 Hygon Information will offset losses from the drop in Hygon Information's long position.| Epoxy Base vs. Silkroad Visual Technology | Epoxy Base vs. Chengdu Xinzhu RoadBridge | Epoxy Base vs. Telling Telecommunication Holding | Epoxy Base vs. Tongyu Communication |
| Hygon Information vs. Epoxy Base Electronic | Hygon Information vs. YiDong Electronics Technology | Hygon Information vs. Shanghai Yaoji Playing | Hygon Information vs. ButOne Information 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 Financial Widgets module to easily integrated Macroaxis content with over 30 different plug-and-play financial widgets.
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