Correlation Between APT Medical and Thunder Software
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By analyzing existing cross correlation between APT Medical and Thunder Software Technology, you can compare the effects of market volatilities on APT Medical and Thunder Software 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 Thunder Software. Check out your portfolio center. Please also check ongoing floating volatility patterns of APT Medical and Thunder Software.
Diversification Opportunities for APT Medical and Thunder Software
0.26 | Correlation Coefficient |
Modest diversification
The 3 months correlation between APT and Thunder is 0.26. Overlapping area represents the amount of risk that can be diversified away by holding APT Medical and Thunder Software Technology in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Thunder Software Tec 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 Thunder Software. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Thunder Software Tec has no effect on the direction of APT Medical i.e., APT Medical and Thunder Software go up and down completely randomly.
Pair Corralation between APT Medical and Thunder Software
Assuming the 90 days trading horizon APT Medical is expected to generate 0.51 times more return on investment than Thunder Software. However, APT Medical is 1.95 times less risky than Thunder Software. It trades about 0.07 of its potential returns per unit of risk. Thunder Software Technology is currently generating about -0.14 per unit of risk. If you would invest 36,189 in APT Medical on December 11, 2024 and sell it today you would earn a total of 744.00 from holding APT Medical or generate 2.06% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
APT Medical vs. Thunder Software Technology
Performance |
| Timeline |
| APT Medical |
| Thunder Software Tec |
APT Medical and Thunder Software Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with APT Medical and Thunder Software
The main advantage of trading using opposite APT Medical and Thunder Software positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if APT Medical position performs unexpectedly, Thunder Software 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 Thunder Software will offset losses from the drop in Thunder Software's long position.| APT Medical vs. Shengda Mining Co | APT Medical vs. Caihong Display Devices | APT Medical vs. China World Trade | APT Medical vs. Tibet Huayu Mining |
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 Efficient Frontier module to plot and analyze your portfolio and positions against risk-return landscape of the market..
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