Correlation Between ROPEOK Technology and Shenzhen Centralcon
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By analyzing existing cross correlation between ROPEOK Technology Group and Shenzhen Centralcon Investment, you can compare the effects of market volatilities on ROPEOK Technology and Shenzhen Centralcon 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 ROPEOK Technology with a short position of Shenzhen Centralcon. Check out your portfolio center. Please also check ongoing floating volatility patterns of ROPEOK Technology and Shenzhen Centralcon.
Diversification Opportunities for ROPEOK Technology and Shenzhen Centralcon
0.94 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between ROPEOK and Shenzhen is 0.94. Overlapping area represents the amount of risk that can be diversified away by holding ROPEOK Technology Group and Shenzhen Centralcon Investment in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Shenzhen Centralcon and ROPEOK Technology 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 ROPEOK Technology Group are associated (or correlated) with Shenzhen Centralcon. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Shenzhen Centralcon has no effect on the direction of ROPEOK Technology i.e., ROPEOK Technology and Shenzhen Centralcon go up and down completely randomly.
Pair Corralation between ROPEOK Technology and Shenzhen Centralcon
Assuming the 90 days trading horizon ROPEOK Technology is expected to generate 1.41 times less return on investment than Shenzhen Centralcon. In addition to that, ROPEOK Technology is 1.08 times more volatile than Shenzhen Centralcon Investment. It trades about 0.06 of its total potential returns per unit of risk. Shenzhen Centralcon Investment is currently generating about 0.09 per unit of volatility. If you would invest 529.00 in Shenzhen Centralcon Investment on September 12, 2024 and sell it today you would earn a total of 21.00 from holding Shenzhen Centralcon Investment or generate 3.97% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
ROPEOK Technology Group vs. Shenzhen Centralcon Investment
Performance |
| Timeline |
| ROPEOK Technology |
| Shenzhen Centralcon |
ROPEOK Technology and Shenzhen Centralcon Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with ROPEOK Technology and Shenzhen Centralcon
The main advantage of trading using opposite ROPEOK Technology and Shenzhen Centralcon positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if ROPEOK Technology position performs unexpectedly, Shenzhen Centralcon 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 Shenzhen Centralcon will offset losses from the drop in Shenzhen Centralcon's long position.| ROPEOK Technology vs. Gansu Jiu Steel | ROPEOK Technology vs. Shandong Mining Machinery | ROPEOK Technology vs. Aba Chemicals Corp | ROPEOK Technology vs. BlueFocus Communication Group |
| Shenzhen Centralcon vs. Industrial and Commercial | Shenzhen Centralcon vs. China Construction Bank | Shenzhen Centralcon vs. Bank of China | Shenzhen Centralcon vs. Agricultural Bank of |
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 Sectors module to list of equity sectors categorizing publicly traded companies based on their primary business activities.
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