Correlation Between APT Medical and Telling Telecommunicatio
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By analyzing existing cross correlation between APT Medical and Telling Telecommunication Holding, you can compare the effects of market volatilities on APT Medical and Telling Telecommunicatio 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 APT Medical with a short position of Telling Telecommunicatio. Check out your portfolio center. Please also check ongoing floating volatility patterns of APT Medical and Telling Telecommunicatio.
Diversification Opportunities for APT Medical and Telling Telecommunicatio
-0.03 | Correlation Coefficient |
Good diversification
The 3 months correlation between APT and Telling is -0.03. Overlapping area represents the amount of risk that can be diversified away by holding APT Medical and Telling Telecommunication Hold in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Telling Telecommunicatio and APT Medical 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 APT Medical are associated (or correlated) with Telling Telecommunicatio. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Telling Telecommunicatio has no effect on the direction of APT Medical i.e., APT Medical and Telling Telecommunicatio go up and down completely randomly.
Pair Corralation between APT Medical and Telling Telecommunicatio
Assuming the 90 days trading horizon APT Medical is expected to generate 0.59 times more return on investment than Telling Telecommunicatio. However, APT Medical is 1.69 times less risky than Telling Telecommunicatio. It trades about 0.05 of its potential returns per unit of risk. Telling Telecommunication Holding is currently generating about -0.16 per unit of risk. If you would invest 36,001 in APT Medical on November 4, 2024 and sell it today you would earn a total of 1,849 from holding APT Medical or generate 5.14% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
APT Medical vs. Telling Telecommunication Hold
Performance |
| Timeline |
| APT Medical |
| Telling Telecommunicatio |
APT Medical and Telling Telecommunicatio Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with APT Medical and Telling Telecommunicatio
The main advantage of trading using opposite APT Medical and Telling Telecommunicatio positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if APT Medical position performs unexpectedly, Telling Telecommunicatio 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 Telling Telecommunicatio will offset losses from the drop in Telling Telecommunicatio's long position.| APT Medical vs. Heilongjiang Publishing Media | APT Medical vs. Shenzhen Zhongzhuang Construction | APT Medical vs. COL Digital Publishing | APT Medical vs. Jiangsu Phoenix Publishing |
| Telling Telecommunicatio vs. Zhejiang Yinlun Machinery | Telling Telecommunicatio vs. JuneYao Dairy Co | Telling Telecommunicatio vs. HaiXin Foods Co | Telling Telecommunicatio vs. Jiamei Food Packaging |
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 Bollinger Bands module to use Bollinger Bands indicator to analyze target price for a given investing horizon.
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