Correlation Between Guotai Epoint and Zoje Resources
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By analyzing existing cross correlation between Guotai Epoint Software and Zoje Resources Investment, you can compare the effects of market volatilities on Guotai Epoint and Zoje Resources 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 Guotai Epoint with a short position of Zoje Resources. Check out your portfolio center. Please also check ongoing floating volatility patterns of Guotai Epoint and Zoje Resources.
Diversification Opportunities for Guotai Epoint and Zoje Resources
-0.27 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Guotai and Zoje is -0.27. Overlapping area represents the amount of risk that can be diversified away by holding Guotai Epoint Software and Zoje Resources Investment in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Zoje Resources Investment and Guotai Epoint 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 Guotai Epoint Software are associated (or correlated) with Zoje Resources. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Zoje Resources Investment has no effect on the direction of Guotai Epoint i.e., Guotai Epoint and Zoje Resources go up and down completely randomly.
Pair Corralation between Guotai Epoint and Zoje Resources
Assuming the 90 days trading horizon Guotai Epoint Software is expected to generate 0.62 times more return on investment than Zoje Resources. However, Guotai Epoint Software is 1.61 times less risky than Zoje Resources. It trades about -0.3 of its potential returns per unit of risk. Zoje Resources Investment is currently generating about -0.34 per unit of risk. If you would invest 3,133 in Guotai Epoint Software on October 16, 2024 and sell it today you would lose (403.00) from holding Guotai Epoint Software or give up 12.86% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Guotai Epoint Software vs. Zoje Resources Investment
Performance |
| Timeline |
| Guotai Epoint Software |
| Zoje Resources Investment |
Guotai Epoint and Zoje Resources Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Guotai Epoint and Zoje Resources
The main advantage of trading using opposite Guotai Epoint and Zoje Resources positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Guotai Epoint position performs unexpectedly, Zoje Resources 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 Zoje Resources will offset losses from the drop in Zoje Resources' long position.| Guotai Epoint vs. Time Publishing and | Guotai Epoint vs. Fuda Alloy Materials | Guotai Epoint vs. Shanghai Action Education | Guotai Epoint vs. Zhejiang Publishing Media |
| Zoje Resources vs. Ningbo MedicalSystem Biotechnology | Zoje Resources vs. Guotai Epoint Software | Zoje Resources vs. Shenzhen Topway Video | Zoje Resources vs. Thunder Software Technology |
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 Stock Tickers module to use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites.
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