Correlation Between Vohringer Home and Shenzhen Glory
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By analyzing existing cross correlation between Vohringer Home Technology and Shenzhen Glory Medical, you can compare the effects of market volatilities on Vohringer Home and Shenzhen Glory 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 Vohringer Home with a short position of Shenzhen Glory. Check out your portfolio center. Please also check ongoing floating volatility patterns of Vohringer Home and Shenzhen Glory.
Diversification Opportunities for Vohringer Home and Shenzhen Glory
0.4 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Vohringer and Shenzhen is 0.4. Overlapping area represents the amount of risk that can be diversified away by holding Vohringer Home Technology and Shenzhen Glory Medical in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Shenzhen Glory Medical and Vohringer Home 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 Vohringer Home Technology are associated (or correlated) with Shenzhen Glory. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Shenzhen Glory Medical has no effect on the direction of Vohringer Home i.e., Vohringer Home and Shenzhen Glory go up and down completely randomly.
Pair Corralation between Vohringer Home and Shenzhen Glory
Assuming the 90 days trading horizon Vohringer Home Technology is expected to generate 1.15 times more return on investment than Shenzhen Glory. However, Vohringer Home is 1.15 times more volatile than Shenzhen Glory Medical. It trades about 0.01 of its potential returns per unit of risk. Shenzhen Glory Medical is currently generating about -0.03 per unit of risk. If you would invest 543.00 in Vohringer Home Technology on October 26, 2024 and sell it today you would lose (14.00) from holding Vohringer Home Technology or give up 2.58% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Vohringer Home Technology vs. Shenzhen Glory Medical
Performance |
| Timeline |
| Vohringer Home Technology |
| Shenzhen Glory Medical |
Vohringer Home and Shenzhen Glory Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Vohringer Home and Shenzhen Glory
The main advantage of trading using opposite Vohringer Home and Shenzhen Glory positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Vohringer Home position performs unexpectedly, Shenzhen Glory 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 Shenzhen Glory will offset losses from the drop in Shenzhen Glory's long position.| Vohringer Home vs. Mengtian Home Group | Vohringer Home vs. Marssenger Kitchenware Co | Vohringer Home vs. Markor International Home | Vohringer Home vs. Ziel Home Furnishing |
| Shenzhen Glory vs. CICC Fund Management | Shenzhen Glory vs. Wonders Information | Shenzhen Glory vs. Digital China Information | Shenzhen Glory vs. Bonree Data 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 Pattern Recognition module to use different Pattern Recognition models to time the market across multiple global exchanges.
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