Correlation Between Biwin Storage and Integrated Electronic
Specify exactly 2 symbols:
By analyzing existing cross correlation between Biwin Storage Technology and Integrated Electronic Systems, you can compare the effects of market volatilities on Biwin Storage and Integrated Electronic 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 Biwin Storage with a short position of Integrated Electronic. Check out your portfolio center. Please also check ongoing floating volatility patterns of Biwin Storage and Integrated Electronic.
Diversification Opportunities for Biwin Storage and Integrated Electronic
0.8 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Biwin and Integrated is 0.8. Overlapping area represents the amount of risk that can be diversified away by holding Biwin Storage Technology and Integrated Electronic Systems in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Integrated Electronic and Biwin Storage 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 Biwin Storage Technology are associated (or correlated) with Integrated Electronic. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Integrated Electronic has no effect on the direction of Biwin Storage i.e., Biwin Storage and Integrated Electronic go up and down completely randomly.
Pair Corralation between Biwin Storage and Integrated Electronic
Assuming the 90 days trading horizon Biwin Storage Technology is expected to under-perform the Integrated Electronic. In addition to that, Biwin Storage is 1.09 times more volatile than Integrated Electronic Systems. It trades about -0.03 of its total potential returns per unit of risk. Integrated Electronic Systems is currently generating about 0.17 per unit of volatility. If you would invest 677.00 in Integrated Electronic Systems on September 5, 2024 and sell it today you would earn a total of 84.00 from holding Integrated Electronic Systems or generate 12.41% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Biwin Storage Technology vs. Integrated Electronic Systems
Performance |
| Timeline |
| Biwin Storage Technology |
| Integrated Electronic |
Biwin Storage and Integrated Electronic Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Biwin Storage and Integrated Electronic
The main advantage of trading using opposite Biwin Storage and Integrated Electronic positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Biwin Storage position performs unexpectedly, Integrated Electronic 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 Integrated Electronic will offset losses from the drop in Integrated Electronic's long position.| Biwin Storage vs. Guangdong Shenglu Telecommunication | Biwin Storage vs. Sunwave Communications Co | Biwin Storage vs. Jiangnan Mould Plastic | Biwin Storage vs. Ningxia Building Materials |
| Integrated Electronic vs. Biwin Storage Technology | Integrated Electronic vs. PetroChina Co Ltd | Integrated Electronic vs. Industrial and Commercial | Integrated Electronic vs. China Construction Bank |
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 Holdings module to check your current holdings and cash postion to detemine if your portfolio needs rebalancing.
Other Complementary Tools
| Equity Valuation Check real value of public entities based on technical and fundamental data | |
| Portfolio Backtesting Avoid under-diversification and over-optimization by backtesting your portfolios | |
| Volatility Analysis Get historical volatility and risk analysis based on latest market data | |
| Stocks Directory Find actively traded stocks across global markets | |
| Stock Screener Find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook. |