Correlation Between Beken Corp and Tianjin LVYIN
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By analyzing existing cross correlation between Beken Corp and Tianjin LVYIN Landscape, you can compare the effects of market volatilities on Beken Corp and Tianjin LVYIN 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 Beken Corp with a short position of Tianjin LVYIN. Check out your portfolio center. Please also check ongoing floating volatility patterns of Beken Corp and Tianjin LVYIN.
Diversification Opportunities for Beken Corp and Tianjin LVYIN
0.88 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Beken and Tianjin is 0.88. Overlapping area represents the amount of risk that can be diversified away by holding Beken Corp and Tianjin LVYIN Landscape in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Tianjin LVYIN Landscape and Beken Corp 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 Beken Corp are associated (or correlated) with Tianjin LVYIN. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Tianjin LVYIN Landscape has no effect on the direction of Beken Corp i.e., Beken Corp and Tianjin LVYIN go up and down completely randomly.
Pair Corralation between Beken Corp and Tianjin LVYIN
Assuming the 90 days trading horizon Beken Corp is expected to generate 1.13 times more return on investment than Tianjin LVYIN. However, Beken Corp is 1.13 times more volatile than Tianjin LVYIN Landscape. It trades about 0.13 of its potential returns per unit of risk. Tianjin LVYIN Landscape is currently generating about -0.03 per unit of risk. If you would invest 2,809 in Beken Corp on September 25, 2024 and sell it today you would earn a total of 286.00 from holding Beken Corp or generate 10.18% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Beken Corp vs. Tianjin LVYIN Landscape
Performance |
| Timeline |
| Beken Corp |
| Tianjin LVYIN Landscape |
Beken Corp and Tianjin LVYIN Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Beken Corp and Tianjin LVYIN
The main advantage of trading using opposite Beken Corp and Tianjin LVYIN positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Beken Corp position performs unexpectedly, Tianjin LVYIN 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 Tianjin LVYIN will offset losses from the drop in Tianjin LVYIN's long position.| Beken Corp vs. Industrial and Commercial | Beken Corp vs. China Construction Bank | Beken Corp vs. Agricultural Bank of | Beken Corp vs. Bank of China |
| Tianjin LVYIN vs. Ming Yang Smart | Tianjin LVYIN vs. 159681 | Tianjin LVYIN vs. 159005 | Tianjin LVYIN vs. Loctek Ergonomic Technology |
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 File Import module to quickly import all of your third-party portfolios from your local drive in csv format.
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