Correlation Between AUPU Home and Industrial
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By analyzing existing cross correlation between AUPU Home Style and Industrial and Commercial, you can compare the effects of market volatilities on AUPU Home and Industrial 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 Industrial. Check out your portfolio center. Please also check ongoing floating volatility patterns of AUPU Home and Industrial.
Diversification Opportunities for AUPU Home and Industrial
-0.38 | Correlation Coefficient |
Very good diversification
The 3 months correlation between AUPU and Industrial is -0.38. Overlapping area represents the amount of risk that can be diversified away by holding AUPU Home Style and Industrial and Commercial in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Industrial and Commercial 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 Industrial. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Industrial and Commercial has no effect on the direction of AUPU Home i.e., AUPU Home and Industrial go up and down completely randomly.
Pair Corralation between AUPU Home and Industrial
Assuming the 90 days trading horizon AUPU Home is expected to generate 1.2 times less return on investment than Industrial. In addition to that, AUPU Home is 1.55 times more volatile than Industrial and Commercial. It trades about 0.04 of its total potential returns per unit of risk. Industrial and Commercial is currently generating about 0.08 per unit of volatility. If you would invest 666.00 in Industrial and Commercial on December 2, 2024 and sell it today you would earn a total of 21.00 from holding Industrial and Commercial or generate 3.15% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
AUPU Home Style vs. Industrial and Commercial
Performance |
| Timeline |
| AUPU Home Style |
| Industrial and Commercial |
AUPU Home and Industrial Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with AUPU Home and Industrial
The main advantage of trading using opposite AUPU Home and Industrial positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if AUPU Home position performs unexpectedly, Industrial 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 Industrial will offset losses from the drop in Industrial's long position.| AUPU Home vs. Xinjiang Beixin RoadBridge | AUPU Home vs. Hunan TV Broadcast | AUPU Home vs. TVZone Media Co | AUPU Home vs. Huawen Media Investment |
| Industrial vs. Highbroad Advanced Material | Industrial vs. Dazhong Transportation Group | Industrial vs. Tianshan Aluminum Group | Industrial vs. Fujian Longzhou Transportation |
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 Bonds Directory module to find actively traded corporate debentures issued by US companies.
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