Correlation Between Thinkon Semiconductor and Do Fluoride
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By analyzing existing cross correlation between Thinkon Semiconductor Jinzhou and Do Fluoride Chemicals Co, you can compare the effects of market volatilities on Thinkon Semiconductor and Do Fluoride 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 Do Fluoride. Check out your portfolio center. Please also check ongoing floating volatility patterns of Thinkon Semiconductor and Do Fluoride.
Diversification Opportunities for Thinkon Semiconductor and Do Fluoride
0.87 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Thinkon and 002407 is 0.87. Overlapping area represents the amount of risk that can be diversified away by holding Thinkon Semiconductor Jinzhou and Do Fluoride Chemicals Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Do Fluoride Chemicals 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 Do Fluoride. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Do Fluoride Chemicals has no effect on the direction of Thinkon Semiconductor i.e., Thinkon Semiconductor and Do Fluoride go up and down completely randomly.
Pair Corralation between Thinkon Semiconductor and Do Fluoride
Assuming the 90 days trading horizon Thinkon Semiconductor Jinzhou is expected to generate 1.43 times more return on investment than Do Fluoride. However, Thinkon Semiconductor is 1.43 times more volatile than Do Fluoride Chemicals Co. It trades about 0.05 of its potential returns per unit of risk. Do Fluoride Chemicals Co is currently generating about 0.03 per unit of risk. If you would invest 1,911 in Thinkon Semiconductor Jinzhou on October 18, 2024 and sell it today you would earn a total of 357.00 from holding Thinkon Semiconductor Jinzhou or generate 18.68% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Thinkon Semiconductor Jinzhou vs. Do Fluoride Chemicals Co
Performance |
| Timeline |
| Thinkon Semiconductor |
| Do Fluoride Chemicals |
Thinkon Semiconductor and Do Fluoride Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Thinkon Semiconductor and Do Fluoride
The main advantage of trading using opposite Thinkon Semiconductor and Do Fluoride positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Thinkon Semiconductor position performs unexpectedly, Do Fluoride 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 Do Fluoride will offset losses from the drop in Do Fluoride's long position.| Thinkon Semiconductor vs. North Copper Shanxi | Thinkon Semiconductor vs. Guocheng Mining Co | Thinkon Semiconductor vs. Chengtun Mining Group | Thinkon Semiconductor vs. Xinjiang Beixin RoadBridge |
| Do Fluoride vs. East Money Information | Do Fluoride vs. GRINM Semiconductor Materials | Do Fluoride vs. Thinkon Semiconductor Jinzhou | Do Fluoride vs. Suzhou Oriental Semiconductor |
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 Portfolio Comparator module to compare the composition, asset allocations and performance of any two portfolios in your account.
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