Correlation Between Duzhe Publishing and Loctek Ergonomic
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By analyzing existing cross correlation between Duzhe Publishing Media and Loctek Ergonomic Technology, you can compare the effects of market volatilities on Duzhe Publishing and Loctek Ergonomic 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 Loctek Ergonomic. Check out your portfolio center. Please also check ongoing floating volatility patterns of Duzhe Publishing and Loctek Ergonomic.
Diversification Opportunities for Duzhe Publishing and Loctek Ergonomic
0.97 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Duzhe and Loctek is 0.97. Overlapping area represents the amount of risk that can be diversified away by holding Duzhe Publishing Media and Loctek Ergonomic Technology in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Loctek Ergonomic Tec 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 Loctek Ergonomic. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Loctek Ergonomic Tec has no effect on the direction of Duzhe Publishing i.e., Duzhe Publishing and Loctek Ergonomic go up and down completely randomly.
Pair Corralation between Duzhe Publishing and Loctek Ergonomic
Assuming the 90 days trading horizon Duzhe Publishing Media is expected to generate 0.99 times more return on investment than Loctek Ergonomic. However, Duzhe Publishing Media is 1.01 times less risky than Loctek Ergonomic. It trades about 0.22 of its potential returns per unit of risk. Loctek Ergonomic Technology is currently generating about 0.22 per unit of risk. If you would invest 564.00 in Duzhe Publishing Media on September 2, 2024 and sell it today you would earn a total of 66.00 from holding Duzhe Publishing Media or generate 11.7% 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. Loctek Ergonomic Technology
Performance |
| Timeline |
| Duzhe Publishing Media |
| Loctek Ergonomic Tec |
Duzhe Publishing and Loctek Ergonomic Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Duzhe Publishing and Loctek Ergonomic
The main advantage of trading using opposite Duzhe Publishing and Loctek Ergonomic positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Duzhe Publishing position performs unexpectedly, Loctek Ergonomic 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 Loctek Ergonomic will offset losses from the drop in Loctek Ergonomic's long position.| Duzhe Publishing vs. Cambricon Technologies Corp | Duzhe Publishing vs. Loongson Technology Corp | Duzhe Publishing vs. Shenzhen Fortune Trend | Duzhe Publishing vs. Chongqing Road Bridge |
| Loctek Ergonomic vs. Zhuhai Comleader Information | Loctek Ergonomic vs. YLZ Information Tech | Loctek Ergonomic vs. Longmaster Information Tech | Loctek Ergonomic vs. Fujian Boss Software |
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 Theme Ratings module to determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance.
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