Correlation Between Duzhe Publishing and De Rucci
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By analyzing existing cross correlation between Duzhe Publishing Media and De Rucci Healthy, you can compare the effects of market volatilities on Duzhe Publishing and De Rucci 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 Duzhe Publishing with a short position of De Rucci. Check out your portfolio center. Please also check ongoing floating volatility patterns of Duzhe Publishing and De Rucci.
Diversification Opportunities for Duzhe Publishing and De Rucci
0.92 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Duzhe and 001323 is 0.92. Overlapping area represents the amount of risk that can be diversified away by holding Duzhe Publishing Media and De Rucci Healthy in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on De Rucci Healthy and Duzhe Publishing 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 Duzhe Publishing Media are associated (or correlated) with De Rucci. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of De Rucci Healthy has no effect on the direction of Duzhe Publishing i.e., Duzhe Publishing and De Rucci go up and down completely randomly.
Pair Corralation between Duzhe Publishing and De Rucci
Assuming the 90 days trading horizon Duzhe Publishing Media is expected to generate 1.41 times more return on investment than De Rucci. However, Duzhe Publishing is 1.41 times more volatile than De Rucci Healthy. It trades about 0.17 of its potential returns per unit of risk. De Rucci Healthy is currently generating about 0.03 per unit of risk. If you would invest 610.00 in Duzhe Publishing Media on September 12, 2024 and sell it today you would earn a total of 69.00 from holding Duzhe Publishing Media or generate 11.31% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Duzhe Publishing Media vs. De Rucci Healthy
Performance |
| Timeline |
| Duzhe Publishing Media |
| De Rucci Healthy |
Duzhe Publishing and De Rucci Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Duzhe Publishing and De Rucci
The main advantage of trading using opposite Duzhe Publishing and De Rucci positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Duzhe Publishing position performs unexpectedly, De Rucci 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 De Rucci will offset losses from the drop in De Rucci's long position.| Duzhe Publishing vs. Kweichow Moutai Co | Duzhe Publishing vs. Shenzhen Mindray Bio Medical | Duzhe Publishing vs. G bits Network Technology | Duzhe Publishing vs. Beijing Roborock Technology |
| De Rucci vs. Lutian Machinery Co | De Rucci vs. PetroChina Co Ltd | De Rucci vs. Bank of China | De Rucci vs. Gansu Jiu Steel |
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 Technical Analysis module to check basic technical indicators and analysis based on most latest market data.
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