Correlation Between Inly Media and Lander Sports
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By analyzing existing cross correlation between Inly Media Co and Lander Sports Development, you can compare the effects of market volatilities on Inly Media and Lander Sports 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 Inly Media with a short position of Lander Sports. Check out your portfolio center. Please also check ongoing floating volatility patterns of Inly Media and Lander Sports.
Diversification Opportunities for Inly Media and Lander Sports
0.75 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Inly and Lander is 0.75. Overlapping area represents the amount of risk that can be diversified away by holding Inly Media Co and Lander Sports Development in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Lander Sports Development and Inly Media 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 Inly Media Co are associated (or correlated) with Lander Sports. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Lander Sports Development has no effect on the direction of Inly Media i.e., Inly Media and Lander Sports go up and down completely randomly.
Pair Corralation between Inly Media and Lander Sports
Assuming the 90 days trading horizon Inly Media Co is expected to under-perform the Lander Sports. In addition to that, Inly Media is 1.69 times more volatile than Lander Sports Development. It trades about -0.05 of its total potential returns per unit of risk. Lander Sports Development is currently generating about 0.2 per unit of volatility. If you would invest 322.00 in Lander Sports Development on November 27, 2024 and sell it today you would earn a total of 21.00 from holding Lander Sports Development or generate 6.52% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Inly Media Co vs. Lander Sports Development
Performance |
| Timeline |
| Inly Media |
| Lander Sports Development |
Inly Media and Lander Sports Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Inly Media and Lander Sports
The main advantage of trading using opposite Inly Media and Lander Sports positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Inly Media position performs unexpectedly, Lander Sports 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 Lander Sports will offset losses from the drop in Lander Sports' long position.| Inly Media vs. Cultural Investment Holdings | Inly Media vs. Huaxia Fund Management | Inly Media vs. Postal Savings Bank | Inly Media vs. Beijing Jiaman Dress |
| Lander Sports vs. HanS Laser Tech | Lander Sports vs. Yingde Greatchem Chemicals | Lander Sports vs. HUAQIN TECHNOLOGY LTD | Lander Sports vs. Hubei Xingfa Chemicals |
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 Equity Valuation module to check real value of public entities based on technical and fundamental data.
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