Correlation Between Thinkon Semiconductor and Cloud Live
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By analyzing existing cross correlation between Thinkon Semiconductor Jinzhou and Cloud Live Technology, you can compare the effects of market volatilities on Thinkon Semiconductor and Cloud Live 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 Thinkon Semiconductor with a short position of Cloud Live. Check out your portfolio center. Please also check ongoing floating volatility patterns of Thinkon Semiconductor and Cloud Live.
Diversification Opportunities for Thinkon Semiconductor and Cloud Live
0.56 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Thinkon and Cloud is 0.56. Overlapping area represents the amount of risk that can be diversified away by holding Thinkon Semiconductor Jinzhou and Cloud Live Technology in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Cloud Live Technology and Thinkon Semiconductor 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 Thinkon Semiconductor Jinzhou are associated (or correlated) with Cloud Live. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Cloud Live Technology has no effect on the direction of Thinkon Semiconductor i.e., Thinkon Semiconductor and Cloud Live go up and down completely randomly.
Pair Corralation between Thinkon Semiconductor and Cloud Live
Assuming the 90 days trading horizon Thinkon Semiconductor Jinzhou is expected to generate 0.56 times more return on investment than Cloud Live. However, Thinkon Semiconductor Jinzhou is 1.78 times less risky than Cloud Live. It trades about -0.32 of its potential returns per unit of risk. Cloud Live Technology is currently generating about -0.49 per unit of risk. If you would invest 2,628 in Thinkon Semiconductor Jinzhou on October 12, 2024 and sell it today you would lose (427.00) from holding Thinkon Semiconductor Jinzhou or give up 16.25% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Thinkon Semiconductor Jinzhou vs. Cloud Live Technology
Performance |
| Timeline |
| Thinkon Semiconductor |
| Cloud Live Technology |
Thinkon Semiconductor and Cloud Live Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Thinkon Semiconductor and Cloud Live
The main advantage of trading using opposite Thinkon Semiconductor and Cloud Live positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Thinkon Semiconductor position performs unexpectedly, Cloud Live 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 Cloud Live will offset losses from the drop in Cloud Live's long position.| Thinkon Semiconductor vs. CITIC Guoan Information | Thinkon Semiconductor vs. ButOne Information Corp | Thinkon Semiconductor vs. Shenzhen SDG Information | Thinkon Semiconductor vs. Zhongfu Information |
| Cloud Live vs. Gem Year Industrial Co | Cloud Live vs. Thinkon Semiconductor Jinzhou | Cloud Live vs. Rising Nonferrous Metals | Cloud Live vs. Qingdao Choho Industrial |
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 Positions Ratings module to determine portfolio positions ratings based on digital equity recommendations. Macroaxis instant position ratings are based on combination of fundamental analysis and risk-adjusted market performance.
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