Correlation Between Duzhe Publishing and AVCON Information
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By analyzing existing cross correlation between Duzhe Publishing Media and AVCON Information Tech, you can compare the effects of market volatilities on Duzhe Publishing and AVCON Information 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 AVCON Information. Check out your portfolio center. Please also check ongoing floating volatility patterns of Duzhe Publishing and AVCON Information.
Diversification Opportunities for Duzhe Publishing and AVCON Information
0.71 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Duzhe and AVCON is 0.71. Overlapping area represents the amount of risk that can be diversified away by holding Duzhe Publishing Media and AVCON Information Tech in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on AVCON Information Tech 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 AVCON Information. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of AVCON Information Tech has no effect on the direction of Duzhe Publishing i.e., Duzhe Publishing and AVCON Information go up and down completely randomly.
Pair Corralation between Duzhe Publishing and AVCON Information
Assuming the 90 days trading horizon Duzhe Publishing Media is expected to under-perform the AVCON Information. But the stock apears to be less risky and, when comparing its historical volatility, Duzhe Publishing Media is 1.29 times less risky than AVCON Information. The stock trades about -0.35 of its potential returns per unit of risk. The AVCON Information Tech is currently generating about -0.26 of returns per unit of risk over similar time horizon. If you would invest 506.00 in AVCON Information Tech on October 17, 2024 and sell it today you would lose (120.00) from holding AVCON Information Tech or give up 23.72% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Duzhe Publishing Media vs. AVCON Information Tech
Performance |
| Timeline |
| Duzhe Publishing Media |
| AVCON Information Tech |
Duzhe Publishing and AVCON Information Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Duzhe Publishing and AVCON Information
The main advantage of trading using opposite Duzhe Publishing and AVCON Information positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Duzhe Publishing position performs unexpectedly, AVCON Information 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 AVCON Information will offset losses from the drop in AVCON Information's long position.| Duzhe Publishing vs. Meinian Onehealth Healthcare | Duzhe Publishing vs. Healthcare Co | Duzhe Publishing vs. Humanwell Healthcare Group | Duzhe Publishing vs. Shandong Sinoglory Health |
| AVCON Information vs. Sportsoul Co Ltd | AVCON Information vs. Heilongjiang Publishing Media | AVCON Information vs. Duzhe Publishing Media | AVCON Information vs. Shuhua Sports 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 Top Crypto Exchanges module to search and analyze digital assets across top global cryptocurrency exchanges.
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