Correlation Between Zoy Home and Markor International
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By analyzing existing cross correlation between Zoy Home Furnishing and Markor International Home, you can compare the effects of market volatilities on Zoy Home and Markor International 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 Zoy Home with a short position of Markor International. Check out your portfolio center. Please also check ongoing floating volatility patterns of Zoy Home and Markor International.
Diversification Opportunities for Zoy Home and Markor International
0.89 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Zoy and Markor is 0.89. Overlapping area represents the amount of risk that can be diversified away by holding Zoy Home Furnishing and Markor International Home in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Markor International Home and Zoy 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 Zoy Home Furnishing are associated (or correlated) with Markor International. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Markor International Home has no effect on the direction of Zoy Home i.e., Zoy Home and Markor International go up and down completely randomly.
Pair Corralation between Zoy Home and Markor International
Assuming the 90 days trading horizon Zoy Home Furnishing is expected to generate 1.01 times more return on investment than Markor International. However, Zoy Home is 1.01 times more volatile than Markor International Home. It trades about -0.21 of its potential returns per unit of risk. Markor International Home is currently generating about -0.49 per unit of risk. If you would invest 1,246 in Zoy Home Furnishing on October 14, 2024 and sell it today you would lose (238.00) from holding Zoy Home Furnishing or give up 19.1% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Zoy Home Furnishing vs. Markor International Home
Performance |
| Timeline |
| Zoy Home Furnishing |
| Markor International Home |
Zoy Home and Markor International Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Zoy Home and Markor International
The main advantage of trading using opposite Zoy Home and Markor International positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Zoy Home position performs unexpectedly, Markor International 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 Markor International will offset losses from the drop in Markor International's long position.| Zoy Home vs. Jiajia Food Group | Zoy Home vs. Wuhan Yangtze Communication | Zoy Home vs. Zhongyin Babi Food | Zoy Home vs. Telling Telecommunication Holding |
| Markor International vs. Mengtian Home Group | Markor International vs. DO Home Collection | Markor International vs. Shandong Homey Aquatic | Markor International vs. Qumei Furniture Group |
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 Technical Analysis module to check basic technical indicators and analysis based on most latest market data.
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