Correlation Between Oppein Home and Cultural Investment
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By analyzing existing cross correlation between Oppein Home Group and Cultural Investment Holdings, you can compare the effects of market volatilities on Oppein Home and Cultural Investment 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 Cultural Investment. Check out your portfolio center. Please also check ongoing floating volatility patterns of Oppein Home and Cultural Investment.
Diversification Opportunities for Oppein Home and Cultural Investment
0.82 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Oppein and Cultural is 0.82. Overlapping area represents the amount of risk that can be diversified away by holding Oppein Home Group and Cultural Investment Holdings in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Cultural 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 Cultural Investment. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Cultural Investment has no effect on the direction of Oppein Home i.e., Oppein Home and Cultural Investment go up and down completely randomly.
Pair Corralation between Oppein Home and Cultural Investment
Assuming the 90 days trading horizon Oppein Home Group is expected to under-perform the Cultural Investment. In addition to that, Oppein Home is 3.89 times more volatile than Cultural Investment Holdings. It trades about -0.11 of its total potential returns per unit of risk. Cultural Investment Holdings is currently generating about -0.12 per unit of volatility. If you would invest 209.00 in Cultural Investment Holdings on November 28, 2024 and sell it today you would lose (3.00) from holding Cultural Investment Holdings or give up 1.44% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Oppein Home Group vs. Cultural Investment Holdings
Performance |
| Timeline |
| Oppein Home Group |
| Cultural Investment |
Oppein Home and Cultural Investment Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Oppein Home and Cultural Investment
The main advantage of trading using opposite Oppein Home and Cultural Investment positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Oppein Home position performs unexpectedly, Cultural Investment 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 Cultural Investment will offset losses from the drop in Cultural Investment's long position.| Oppein Home vs. Jointo Energy Investment | Oppein Home vs. Kunshan Guoli Electronic | Oppein Home vs. Shanghai Jinfeng Wine | Oppein Home vs. Jiangsu Financial Leasing |
| Cultural Investment vs. Chongqing Brewery Co | Cultural Investment vs. Jiangsu GDK Biotechnology | Cultural Investment vs. Guangdong Marubi Biotechnology | Cultural Investment vs. China Eastern Airlines |
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 Content Syndication module to quickly integrate customizable finance content to your own investment portal.
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