Correlation Between Oppein Home and Henan Shuanghui
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By analyzing existing cross correlation between Oppein Home Group and Henan Shuanghui Investment, you can compare the effects of market volatilities on Oppein Home and Henan Shuanghui 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 Henan Shuanghui. Check out your portfolio center. Please also check ongoing floating volatility patterns of Oppein Home and Henan Shuanghui.
Diversification Opportunities for Oppein Home and Henan Shuanghui
0.2 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Oppein and Henan is 0.2. Overlapping area represents the amount of risk that can be diversified away by holding Oppein Home Group and Henan Shuanghui Investment in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Henan Shuanghui Inve 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 Henan Shuanghui. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Henan Shuanghui Inve has no effect on the direction of Oppein Home i.e., Oppein Home and Henan Shuanghui go up and down completely randomly.
Pair Corralation between Oppein Home and Henan Shuanghui
Assuming the 90 days trading horizon Oppein Home Group is expected to under-perform the Henan Shuanghui. In addition to that, Oppein Home is 2.08 times more volatile than Henan Shuanghui Investment. It trades about -0.08 of its total potential returns per unit of risk. Henan Shuanghui Investment is currently generating about 0.16 per unit of volatility. If you would invest 2,451 in Henan Shuanghui Investment on October 30, 2024 and sell it today you would earn a total of 185.00 from holding Henan Shuanghui Investment or generate 7.55% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Oppein Home Group vs. Henan Shuanghui Investment
Performance |
| Timeline |
| Oppein Home Group |
| Henan Shuanghui Inve |
Oppein Home and Henan Shuanghui Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Oppein Home and Henan Shuanghui
The main advantage of trading using opposite Oppein Home and Henan Shuanghui positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Oppein Home position performs unexpectedly, Henan Shuanghui 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 Henan Shuanghui will offset losses from the drop in Henan Shuanghui's long position.| Oppein Home vs. Cloud Live Technology | Oppein Home vs. Nanjing Putian Telecommunications | Oppein Home vs. Shenzhen Coship Electronics | Oppein Home vs. Shenzhen Hifuture Electric |
| Henan Shuanghui vs. Kweichow Moutai Co | Henan Shuanghui vs. Contemporary Amperex Technology | Henan Shuanghui vs. G bits Network Technology | Henan Shuanghui vs. Beijing Roborock Technology |
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 Cryptocurrency Center module to build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency.
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