Correlation Between Dosilicon and Lepu Medical
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By analyzing existing cross correlation between Dosilicon Co and Lepu Medical Tech, you can compare the effects of market volatilities on Dosilicon and Lepu Medical 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 Dosilicon with a short position of Lepu Medical. Check out your portfolio center. Please also check ongoing floating volatility patterns of Dosilicon and Lepu Medical.
Diversification Opportunities for Dosilicon and Lepu Medical
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Dosilicon and Lepu is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Dosilicon Co and Lepu Medical Tech in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Lepu Medical Tech and Dosilicon 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 Dosilicon Co are associated (or correlated) with Lepu Medical. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Lepu Medical Tech has no effect on the direction of Dosilicon i.e., Dosilicon and Lepu Medical go up and down completely randomly.
Pair Corralation between Dosilicon and Lepu Medical
Assuming the 90 days trading horizon Dosilicon Co is expected to generate 2.28 times more return on investment than Lepu Medical. However, Dosilicon is 2.28 times more volatile than Lepu Medical Tech. It trades about 0.06 of its potential returns per unit of risk. Lepu Medical Tech is currently generating about -0.26 per unit of risk. If you would invest 2,479 in Dosilicon Co on October 17, 2024 and sell it today you would earn a total of 87.00 from holding Dosilicon Co or generate 3.51% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Dosilicon Co vs. Lepu Medical Tech
Performance |
| Timeline |
| Dosilicon |
| Lepu Medical Tech |
Dosilicon and Lepu Medical Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Dosilicon and Lepu Medical
The main advantage of trading using opposite Dosilicon and Lepu Medical positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Dosilicon position performs unexpectedly, Lepu Medical 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 Lepu Medical will offset losses from the drop in Lepu Medical's long position.| Dosilicon vs. East Money Information | Dosilicon vs. Dawning Information Industry | Dosilicon vs. Shuhua Sports Co | Dosilicon vs. Emdoor Information Co |
| Lepu Medical vs. Wuhan Yangtze Communication | Lepu Medical vs. Dosilicon Co | Lepu Medical vs. Jinsanjiang Silicon Material | Lepu Medical vs. Zhejiang JIULI Hi tech |
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 Correlation Analysis module to reduce portfolio risk simply by holding instruments which are not perfectly correlated.
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