Correlation Between Duzhe Publishing and Bus Online
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By analyzing existing cross correlation between Duzhe Publishing Media and Bus Online Co, you can compare the effects of market volatilities on Duzhe Publishing and Bus Online 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 Bus Online. Check out your portfolio center. Please also check ongoing floating volatility patterns of Duzhe Publishing and Bus Online.
Diversification Opportunities for Duzhe Publishing and Bus Online
0.71 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Duzhe and Bus is 0.71. Overlapping area represents the amount of risk that can be diversified away by holding Duzhe Publishing Media and Bus Online Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Bus Online 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 Bus Online. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bus Online has no effect on the direction of Duzhe Publishing i.e., Duzhe Publishing and Bus Online go up and down completely randomly.
Pair Corralation between Duzhe Publishing and Bus Online
Assuming the 90 days trading horizon Duzhe Publishing Media is expected to generate 0.94 times more return on investment than Bus Online. However, Duzhe Publishing Media is 1.06 times less risky than Bus Online. It trades about 0.1 of its potential returns per unit of risk. Bus Online Co is currently generating about 0.04 per unit of risk. If you would invest 477.00 in Duzhe Publishing Media on November 2, 2024 and sell it today you would earn a total of 134.00 from holding Duzhe Publishing Media or generate 28.09% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Duzhe Publishing Media vs. Bus Online Co
Performance |
| Timeline |
| Duzhe Publishing Media |
| Bus Online |
Duzhe Publishing and Bus Online Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Duzhe Publishing and Bus Online
The main advantage of trading using opposite Duzhe Publishing and Bus Online positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Duzhe Publishing position performs unexpectedly, Bus Online 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 Bus Online will offset losses from the drop in Bus Online's long position.| Duzhe Publishing vs. CICC Fund Management | Duzhe Publishing vs. Zhejiang Construction Investment | Duzhe Publishing vs. Hunan Investment Group | Duzhe Publishing vs. Cultural Investment Holdings |
| Bus Online vs. Guangzhou KDT Machinery | Bus Online vs. Tederic Machinery Co | Bus Online vs. Ciwen Media Co | Bus Online vs. Zhejiang Yinlun Machinery |
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 Risk-Return Analysis module to view associations between returns expected from investment and the risk you assume.
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