Correlation Between APT Medical and Zhuhai Comleader
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By analyzing existing cross correlation between APT Medical and Zhuhai Comleader Information, you can compare the effects of market volatilities on APT Medical and Zhuhai Comleader 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 Zhuhai Comleader. Check out your portfolio center. Please also check ongoing floating volatility patterns of APT Medical and Zhuhai Comleader.
Diversification Opportunities for APT Medical and Zhuhai Comleader
0.25 | Correlation Coefficient |
Modest diversification
The 3 months correlation between APT and Zhuhai is 0.25. Overlapping area represents the amount of risk that can be diversified away by holding APT Medical and Zhuhai Comleader Information in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Zhuhai Comleader Inf 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 Zhuhai Comleader. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Zhuhai Comleader Inf has no effect on the direction of APT Medical i.e., APT Medical and Zhuhai Comleader go up and down completely randomly.
Pair Corralation between APT Medical and Zhuhai Comleader
Assuming the 90 days trading horizon APT Medical is expected to generate 0.8 times more return on investment than Zhuhai Comleader. However, APT Medical is 1.25 times less risky than Zhuhai Comleader. It trades about 0.05 of its potential returns per unit of risk. Zhuhai Comleader Information is currently generating about 0.0 per unit of risk. If you would invest 22,316 in APT Medical on August 31, 2024 and sell it today you would earn a total of 13,946 from holding APT Medical or generate 62.49% 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. Zhuhai Comleader Information
Performance |
| Timeline |
| APT Medical |
| Zhuhai Comleader Inf |
APT Medical and Zhuhai Comleader Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with APT Medical and Zhuhai Comleader
The main advantage of trading using opposite APT Medical and Zhuhai Comleader positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if APT Medical position performs unexpectedly, Zhuhai Comleader 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 Zhuhai Comleader will offset losses from the drop in Zhuhai Comleader's long position.| APT Medical vs. PetroChina Co Ltd | APT Medical vs. China Mobile Limited | APT Medical vs. Ping An Insurance | APT Medical vs. China Petroleum Chemical |
| Zhuhai Comleader vs. Kweichow Moutai Co | Zhuhai Comleader vs. NAURA Technology Group | Zhuhai Comleader vs. APT Medical | Zhuhai Comleader vs. Contemporary Amperex Technology |
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 Analyzer module to portfolio analysis module that provides access to portfolio diagnostics and optimization engine.
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