Correlation Between Qumei Furniture and Integrated Electronic
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By analyzing existing cross correlation between Qumei Furniture Group and Integrated Electronic Systems, you can compare the effects of market volatilities on Qumei Furniture and Integrated Electronic 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 Qumei Furniture with a short position of Integrated Electronic. Check out your portfolio center. Please also check ongoing floating volatility patterns of Qumei Furniture and Integrated Electronic.
Diversification Opportunities for Qumei Furniture and Integrated Electronic
0.92 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Qumei and Integrated is 0.92. Overlapping area represents the amount of risk that can be diversified away by holding Qumei Furniture Group and Integrated Electronic Systems in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Integrated Electronic and Qumei Furniture 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 Qumei Furniture Group are associated (or correlated) with Integrated Electronic. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Integrated Electronic has no effect on the direction of Qumei Furniture i.e., Qumei Furniture and Integrated Electronic go up and down completely randomly.
Pair Corralation between Qumei Furniture and Integrated Electronic
Assuming the 90 days trading horizon Qumei Furniture Group is expected to generate 0.85 times more return on investment than Integrated Electronic. However, Qumei Furniture Group is 1.18 times less risky than Integrated Electronic. It trades about 0.22 of its potential returns per unit of risk. Integrated Electronic Systems is currently generating about 0.1 per unit of risk. If you would invest 327.00 in Qumei Furniture Group on September 13, 2024 and sell it today you would earn a total of 46.00 from holding Qumei Furniture Group or generate 14.07% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Qumei Furniture Group vs. Integrated Electronic Systems
Performance |
| Timeline |
| Qumei Furniture Group |
| Integrated Electronic |
Qumei Furniture and Integrated Electronic Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Qumei Furniture and Integrated Electronic
The main advantage of trading using opposite Qumei Furniture and Integrated Electronic positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Qumei Furniture position performs unexpectedly, Integrated Electronic 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 Integrated Electronic will offset losses from the drop in Integrated Electronic's long position.| Qumei Furniture vs. Beijing Wandong Medical | Qumei Furniture vs. CareRay Digital Medical | Qumei Furniture vs. Leyard Optoelectronic | Qumei Furniture vs. YiDong Electronics Technology |
| Integrated Electronic vs. Industrial and Commercial | Integrated Electronic vs. Agricultural Bank of | Integrated Electronic vs. China Construction Bank | Integrated Electronic vs. Bank of China |
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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