Correlation Between Inly Media and Easyhome New
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By analyzing existing cross correlation between Inly Media Co and Easyhome New Retail, you can compare the effects of market volatilities on Inly Media and Easyhome New 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 Easyhome New. Check out your portfolio center. Please also check ongoing floating volatility patterns of Inly Media and Easyhome New.
Diversification Opportunities for Inly Media and Easyhome New
0.73 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Inly and Easyhome is 0.73. Overlapping area represents the amount of risk that can be diversified away by holding Inly Media Co and Easyhome New Retail in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Easyhome New Retail 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 Easyhome New. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Easyhome New Retail has no effect on the direction of Inly Media i.e., Inly Media and Easyhome New go up and down completely randomly.
Pair Corralation between Inly Media and Easyhome New
Assuming the 90 days trading horizon Inly Media Co is expected to generate 1.53 times more return on investment than Easyhome New. However, Inly Media is 1.53 times more volatile than Easyhome New Retail. It trades about 0.05 of its potential returns per unit of risk. Easyhome New Retail is currently generating about 0.02 per unit of risk. If you would invest 998.00 in Inly Media Co on November 27, 2024 and sell it today you would earn a total of 998.00 from holding Inly Media Co or generate 100.0% 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. Easyhome New Retail
Performance |
| Timeline |
| Inly Media |
| Easyhome New Retail |
Inly Media and Easyhome New Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Inly Media and Easyhome New
The main advantage of trading using opposite Inly Media and Easyhome New positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Inly Media position performs unexpectedly, Easyhome New 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 Easyhome New will offset losses from the drop in Easyhome New's 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 |
| Easyhome New vs. Jiahe Foods Industry | Easyhome New vs. Eastroc Beverage Group | Easyhome New vs. Shandong Huifa Foodstuff | Easyhome New vs. Queclink Wireless Solutions |
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 My Watchlist Analysis module to analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like.
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