Correlation Between Beijing Seeyon and Der International
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By analyzing existing cross correlation between Beijing Seeyon Internet and Der International Home, you can compare the effects of market volatilities on Beijing Seeyon and Der International 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 Beijing Seeyon with a short position of Der International. Check out your portfolio center. Please also check ongoing floating volatility patterns of Beijing Seeyon and Der International.
Diversification Opportunities for Beijing Seeyon and Der International
0.77 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Beijing and Der is 0.77. Overlapping area represents the amount of risk that can be diversified away by holding Beijing Seeyon Internet and Der International Home in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Der International Home and Beijing Seeyon 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 Beijing Seeyon Internet are associated (or correlated) with Der International. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Der International Home has no effect on the direction of Beijing Seeyon i.e., Beijing Seeyon and Der International go up and down completely randomly.
Pair Corralation between Beijing Seeyon and Der International
Assuming the 90 days trading horizon Beijing Seeyon Internet is expected to generate 0.97 times more return on investment than Der International. However, Beijing Seeyon Internet is 1.03 times less risky than Der International. It trades about -0.06 of its potential returns per unit of risk. Der International Home is currently generating about -0.13 per unit of risk. If you would invest 2,122 in Beijing Seeyon Internet on October 26, 2024 and sell it today you would lose (122.00) from holding Beijing Seeyon Internet or give up 5.75% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Beijing Seeyon Internet vs. Der International Home
Performance |
| Timeline |
| Beijing Seeyon Internet |
| Der International Home |
Beijing Seeyon and Der International Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Beijing Seeyon and Der International
The main advantage of trading using opposite Beijing Seeyon and Der International positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Beijing Seeyon position performs unexpectedly, Der International 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 Der International will offset losses from the drop in Der International's long position.| Beijing Seeyon vs. Fiberhome Telecommunication Technologies | Beijing Seeyon vs. Sinomach Automobile Co | Beijing Seeyon vs. Dazhong Transportation Group | Beijing Seeyon vs. Nanjing Putian Telecommunications |
| Der International vs. Beijing Seeyon Internet | Der International vs. Kuang Chi Technologies | Der International vs. Tongxing Environmental Protection | Der International vs. Cansino Biologics |
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 File Import module to quickly import all of your third-party portfolios from your local drive in csv format.
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