Correlation Between APT Medical and Suzhou Oriental
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By analyzing existing cross correlation between APT Medical and Suzhou Oriental Semiconductor, you can compare the effects of market volatilities on APT Medical and Suzhou Oriental 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 Suzhou Oriental. Check out your portfolio center. Please also check ongoing floating volatility patterns of APT Medical and Suzhou Oriental.
Diversification Opportunities for APT Medical and Suzhou Oriental
-0.22 | Correlation Coefficient |
Very good diversification
The 3 months correlation between APT and Suzhou is -0.22. Overlapping area represents the amount of risk that can be diversified away by holding APT Medical and Suzhou Oriental Semiconductor in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Suzhou Oriental Semi 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 Suzhou Oriental. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Suzhou Oriental Semi has no effect on the direction of APT Medical i.e., APT Medical and Suzhou Oriental go up and down completely randomly.
Pair Corralation between APT Medical and Suzhou Oriental
Assuming the 90 days trading horizon APT Medical is expected to generate 0.96 times more return on investment than Suzhou Oriental. However, APT Medical is 1.04 times less risky than Suzhou Oriental. It trades about 0.12 of its potential returns per unit of risk. Suzhou Oriental Semiconductor is currently generating about 0.0 per unit of risk. If you would invest 36,292 in APT Medical on November 4, 2024 and sell it today you would earn a total of 1,558 from holding APT Medical or generate 4.29% 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. Suzhou Oriental Semiconductor
Performance |
| Timeline |
| APT Medical |
| Suzhou Oriental Semi |
APT Medical and Suzhou Oriental Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with APT Medical and Suzhou Oriental
The main advantage of trading using opposite APT Medical and Suzhou Oriental positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if APT Medical position performs unexpectedly, Suzhou Oriental 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 Suzhou Oriental will offset losses from the drop in Suzhou Oriental'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 |
| Suzhou Oriental vs. Bangyan Technology Co | Suzhou Oriental vs. Montage Technology Co | Suzhou Oriental vs. Tianjin Hi Tech Development | Suzhou Oriental vs. Guangzhou KingTeller 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 Sign In To Macroaxis module to sign in to explore Macroaxis' wealth optimization platform and fintech modules.
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