Correlation Between Suzhou Oriental and Easyhome New
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By analyzing existing cross correlation between Suzhou Oriental Semiconductor and Easyhome New Retail, you can compare the effects of market volatilities on Suzhou Oriental and Easyhome New 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 Suzhou Oriental with a short position of Easyhome New. Check out your portfolio center. Please also check ongoing floating volatility patterns of Suzhou Oriental and Easyhome New.
Diversification Opportunities for Suzhou Oriental and Easyhome New
-0.49 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Suzhou and Easyhome is -0.49. Overlapping area represents the amount of risk that can be diversified away by holding Suzhou Oriental Semiconductor and Easyhome New Retail in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Easyhome New Retail and Suzhou Oriental 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 Suzhou Oriental Semiconductor are associated (or correlated) with Easyhome New. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Easyhome New Retail has no effect on the direction of Suzhou Oriental i.e., Suzhou Oriental and Easyhome New go up and down completely randomly.
Pair Corralation between Suzhou Oriental and Easyhome New
Assuming the 90 days trading horizon Suzhou Oriental Semiconductor is expected to under-perform the Easyhome New. In addition to that, Suzhou Oriental is 1.5 times more volatile than Easyhome New Retail. It trades about -0.06 of its total potential returns per unit of risk. Easyhome New Retail is currently generating about 0.02 per unit of volatility. If you would invest 378.00 in Easyhome New Retail on October 11, 2024 and sell it today you would earn a total of 25.00 from holding Easyhome New Retail or generate 6.61% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Suzhou Oriental Semiconductor vs. Easyhome New Retail
Performance |
| Timeline |
| Suzhou Oriental Semi |
| Easyhome New Retail |
Suzhou Oriental and Easyhome New Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Suzhou Oriental and Easyhome New
The main advantage of trading using opposite Suzhou Oriental and Easyhome New positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Suzhou Oriental position performs unexpectedly, Easyhome New 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 Easyhome New will offset losses from the drop in Easyhome New's long position.| Suzhou Oriental vs. Zhangjiagang Freetrade Science | Suzhou Oriental vs. Longxing Chemical Stock | Suzhou Oriental vs. Shenyang Chemical Industry | Suzhou Oriental vs. Guangdong Transtek Medical |
| Easyhome New vs. Maoming Petro Chemical Shihua | Easyhome New vs. Zhejiang JIULI Hi tech | Easyhome New vs. Kuang Chi Technologies | Easyhome New vs. Miracll Chemicals 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 Equity Valuation module to check real value of public entities based on technical and fundamental data.
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