Correlation Between AUPU Home and Keda Clean
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By analyzing existing cross correlation between AUPU Home Style and Keda Clean Energy, you can compare the effects of market volatilities on AUPU Home and Keda Clean 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 AUPU Home with a short position of Keda Clean. Check out your portfolio center. Please also check ongoing floating volatility patterns of AUPU Home and Keda Clean.
Diversification Opportunities for AUPU Home and Keda Clean
0.37 | Correlation Coefficient |
Weak diversification
The 3 months correlation between AUPU and Keda is 0.37. Overlapping area represents the amount of risk that can be diversified away by holding AUPU Home Style and Keda Clean Energy in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Keda Clean Energy and AUPU 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 AUPU Home Style are associated (or correlated) with Keda Clean. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Keda Clean Energy has no effect on the direction of AUPU Home i.e., AUPU Home and Keda Clean go up and down completely randomly.
Pair Corralation between AUPU Home and Keda Clean
Assuming the 90 days trading horizon AUPU Home Style is expected to generate 1.37 times more return on investment than Keda Clean. However, AUPU Home is 1.37 times more volatile than Keda Clean Energy. It trades about -0.06 of its potential returns per unit of risk. Keda Clean Energy is currently generating about -0.09 per unit of risk. If you would invest 1,123 in AUPU Home Style on October 30, 2024 and sell it today you would lose (63.00) from holding AUPU Home Style or give up 5.61% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
AUPU Home Style vs. Keda Clean Energy
Performance |
| Timeline |
| AUPU Home Style |
| Keda Clean Energy |
AUPU Home and Keda Clean Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with AUPU Home and Keda Clean
The main advantage of trading using opposite AUPU Home and Keda Clean positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if AUPU Home position performs unexpectedly, Keda Clean 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 Keda Clean will offset losses from the drop in Keda Clean's long position.| AUPU Home vs. Ziel Home Furnishing | AUPU Home vs. Shanghai Shuixing Home | AUPU Home vs. Hubei Geoway Investment | AUPU Home vs. Zhangjiagang Elegant Home |
| Keda Clean vs. City Development Environment | Keda Clean vs. Wuhan Hvsen Biotechnology | Keda Clean vs. Eit Environmental Development | Keda Clean vs. Shandong Iron and |
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 Commodity Directory module to find actively traded commodities issued by global exchanges.
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