Correlation Between Olympic Circuit and ROPEOK Technology
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By analyzing existing cross correlation between Olympic Circuit Technology and ROPEOK Technology Group, you can compare the effects of market volatilities on Olympic Circuit and ROPEOK Technology 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 Olympic Circuit with a short position of ROPEOK Technology. Check out your portfolio center. Please also check ongoing floating volatility patterns of Olympic Circuit and ROPEOK Technology.
Diversification Opportunities for Olympic Circuit and ROPEOK Technology
0.93 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Olympic and ROPEOK is 0.93. Overlapping area represents the amount of risk that can be diversified away by holding Olympic Circuit Technology and ROPEOK Technology Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on ROPEOK Technology and Olympic Circuit 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 Olympic Circuit Technology are associated (or correlated) with ROPEOK Technology. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ROPEOK Technology has no effect on the direction of Olympic Circuit i.e., Olympic Circuit and ROPEOK Technology go up and down completely randomly.
Pair Corralation between Olympic Circuit and ROPEOK Technology
Assuming the 90 days trading horizon Olympic Circuit is expected to generate 1.04 times less return on investment than ROPEOK Technology. In addition to that, Olympic Circuit is 1.14 times more volatile than ROPEOK Technology Group. It trades about 0.15 of its total potential returns per unit of risk. ROPEOK Technology Group is currently generating about 0.18 per unit of volatility. If you would invest 622.00 in ROPEOK Technology Group on August 30, 2024 and sell it today you would earn a total of 310.00 from holding ROPEOK Technology Group or generate 49.84% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Olympic Circuit Technology vs. ROPEOK Technology Group
Performance |
| Timeline |
| Olympic Circuit Tech |
| ROPEOK Technology |
Olympic Circuit and ROPEOK Technology Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Olympic Circuit and ROPEOK Technology
The main advantage of trading using opposite Olympic Circuit and ROPEOK Technology positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Olympic Circuit position performs unexpectedly, ROPEOK Technology 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 ROPEOK Technology will offset losses from the drop in ROPEOK Technology's long position.| Olympic Circuit vs. Heren Health Co | Olympic Circuit vs. Impulse Qingdao Health | Olympic Circuit vs. Miracll Chemicals Co | Olympic Circuit vs. North Chemical Industries |
| ROPEOK Technology vs. Success Electronics | ROPEOK Technology vs. TongFu Microelectronics Co | ROPEOK Technology vs. Puyang Huicheng Electronic | ROPEOK Technology vs. Aurora Optoelectronics Co |
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 Latest Portfolios module to quick portfolio dashboard that showcases your latest portfolios.
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