Correlation Between Oppein Home and Vanfund Urban
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By analyzing existing cross correlation between Oppein Home Group and Vanfund Urban Investment, you can compare the effects of market volatilities on Oppein Home and Vanfund Urban 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 Oppein Home with a short position of Vanfund Urban. Check out your portfolio center. Please also check ongoing floating volatility patterns of Oppein Home and Vanfund Urban.
Diversification Opportunities for Oppein Home and Vanfund Urban
0.92 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Oppein and Vanfund is 0.92. Overlapping area represents the amount of risk that can be diversified away by holding Oppein Home Group and Vanfund Urban Investment in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Vanfund Urban Investment and Oppein 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 Oppein Home Group are associated (or correlated) with Vanfund Urban. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Vanfund Urban Investment has no effect on the direction of Oppein Home i.e., Oppein Home and Vanfund Urban go up and down completely randomly.
Pair Corralation between Oppein Home and Vanfund Urban
Assuming the 90 days trading horizon Oppein Home Group is expected to generate 0.86 times more return on investment than Vanfund Urban. However, Oppein Home Group is 1.17 times less risky than Vanfund Urban. It trades about 0.07 of its potential returns per unit of risk. Vanfund Urban Investment is currently generating about -0.18 per unit of risk. If you would invest 6,730 in Oppein Home Group on September 27, 2024 and sell it today you would earn a total of 236.00 from holding Oppein Home Group or generate 3.51% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Oppein Home Group vs. Vanfund Urban Investment
Performance |
| Timeline |
| Oppein Home Group |
| Vanfund Urban Investment |
Oppein Home and Vanfund Urban Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Oppein Home and Vanfund Urban
The main advantage of trading using opposite Oppein Home and Vanfund Urban positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Oppein Home position performs unexpectedly, Vanfund Urban 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 Vanfund Urban will offset losses from the drop in Vanfund Urban's long position.| Oppein Home vs. Agricultural Bank of | Oppein Home vs. Industrial and Commercial | Oppein Home vs. Bank of China | Oppein Home vs. China Construction Bank |
| Vanfund Urban vs. Chengdu Xingrong Investment | Vanfund Urban vs. Jointo Energy Investment | Vanfund Urban vs. Oppein Home Group | Vanfund Urban vs. Hunan Mendale Hometextile |
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 Portfolio Optimization module to compute new portfolio that will generate highest expected return given your specified tolerance for risk.
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