Correlation Between MayAir Technology and Poly Real
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By analyzing existing cross correlation between MayAir Technology Co and Poly Real Estate, you can compare the effects of market volatilities on MayAir Technology and Poly Real 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 MayAir Technology with a short position of Poly Real. Check out your portfolio center. Please also check ongoing floating volatility patterns of MayAir Technology and Poly Real.
Diversification Opportunities for MayAir Technology and Poly Real
0.91 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between MayAir and Poly is 0.91. Overlapping area represents the amount of risk that can be diversified away by holding MayAir Technology Co and Poly Real Estate in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Poly Real Estate and MayAir Technology 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 MayAir Technology Co are associated (or correlated) with Poly Real. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Poly Real Estate has no effect on the direction of MayAir Technology i.e., MayAir Technology and Poly Real go up and down completely randomly.
Pair Corralation between MayAir Technology and Poly Real
Assuming the 90 days trading horizon MayAir Technology Co is expected to generate 1.29 times more return on investment than Poly Real. However, MayAir Technology is 1.29 times more volatile than Poly Real Estate. It trades about 0.03 of its potential returns per unit of risk. Poly Real Estate is currently generating about -0.02 per unit of risk. If you would invest 2,937 in MayAir Technology Co on September 13, 2024 and sell it today you would earn a total of 763.00 from holding MayAir Technology Co or generate 25.98% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
MayAir Technology Co vs. Poly Real Estate
Performance |
| Timeline |
| MayAir Technology |
| Poly Real Estate |
MayAir Technology and Poly Real Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with MayAir Technology and Poly Real
The main advantage of trading using opposite MayAir Technology and Poly Real positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if MayAir Technology position performs unexpectedly, Poly Real 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 Poly Real will offset losses from the drop in Poly Real's long position.| MayAir Technology vs. New China Life | MayAir Technology vs. Ming Yang Smart | MayAir Technology vs. 159681 | MayAir Technology vs. 159005 |
| Poly Real vs. Hefei Metalforming Mach | Poly Real vs. Chengtun Mining Group | Poly Real vs. Ningbo Thermal Power | Poly Real vs. MayAir Technology 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 Risk-Return Analysis module to view associations between returns expected from investment and the risk you assume.
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