Correlation Between Eastroc Beverage and Industrial Bank
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By analyzing existing cross correlation between Eastroc Beverage Group and Industrial Bank Co, you can compare the effects of market volatilities on Eastroc Beverage and Industrial Bank 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 Eastroc Beverage with a short position of Industrial Bank. Check out your portfolio center. Please also check ongoing floating volatility patterns of Eastroc Beverage and Industrial Bank.
Diversification Opportunities for Eastroc Beverage and Industrial Bank
0.3 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Eastroc and Industrial is 0.3. Overlapping area represents the amount of risk that can be diversified away by holding Eastroc Beverage Group and Industrial Bank Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Industrial Bank and Eastroc Beverage 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 Eastroc Beverage Group are associated (or correlated) with Industrial Bank. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Industrial Bank has no effect on the direction of Eastroc Beverage i.e., Eastroc Beverage and Industrial Bank go up and down completely randomly.
Pair Corralation between Eastroc Beverage and Industrial Bank
Assuming the 90 days trading horizon Eastroc Beverage Group is expected to generate 1.28 times more return on investment than Industrial Bank. However, Eastroc Beverage is 1.28 times more volatile than Industrial Bank Co. It trades about 0.36 of its potential returns per unit of risk. Industrial Bank Co is currently generating about 0.23 per unit of risk. If you would invest 24,250 in Eastroc Beverage Group on October 12, 2024 and sell it today you would earn a total of 2,890 from holding Eastroc Beverage Group or generate 11.92% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Eastroc Beverage Group vs. Industrial Bank Co
Performance |
| Timeline |
| Eastroc Beverage |
| Industrial Bank |
Eastroc Beverage and Industrial Bank Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Eastroc Beverage and Industrial Bank
The main advantage of trading using opposite Eastroc Beverage and Industrial Bank positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Eastroc Beverage position performs unexpectedly, Industrial Bank 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 Industrial Bank will offset losses from the drop in Industrial Bank's long position.| Eastroc Beverage vs. Quectel Wireless Solutions | Eastroc Beverage vs. Henan Shuanghui Investment | Eastroc Beverage vs. Tieling Newcity Investment | Eastroc Beverage vs. Dongfeng Automobile Co |
| Industrial Bank vs. Gan Yuan Foods | Industrial Bank vs. Eastroc Beverage Group | Industrial Bank vs. Qingdao Foods Co | Industrial Bank vs. Great Sun Foods 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 Sign In To Macroaxis module to sign in to explore Macroaxis' wealth optimization platform and fintech modules.
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